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Archive for April, 2010

April 27th, 2010 - 11:28 am § in bookkeeping, business start up, General Info

USE Tax

What is USE tax and why do we have to pay it? There is a common misconception in business that when you purchase something and the vendor/supplier does not charge you sales tax for whatever reason, the business is not responsible to pay the sales tax.  They treat it like a discount, a bonus, yippee[...]

April 12th, 2010 - 2:26 pm § in bookkeeping, business start up, General Info

Sales Tax Issues

When business owners start up a new business one of the challenges for them is state sales tax.  What is taxable?  How much do I collect?  When do I have to send the tax into the state?  All good questions that a new business owner will have. Chances are that if you will be selling […][...]

April 6th, 2010 - 3:58 pm § in bookkeeping

State Registration

State of Wisconsin Registration Once you have your business name and business checking account established you must register with the State of Wisconsin since you will be conducting business in the state, as well as possibly collecting sales tax. If you are selling anything tangible you will be requ[...]

April 6th, 2010 - 2:33 pm § in bookkeeping, business start up, General Info

Your Federal ID Number

TO FED ID  or not  TO FED ID? In my current blog series of the list of items that one needs to do when starting up a business, we find ourselves with yet another question, do I need to have a federal ID number or not?  In my opinion, I don’t see any reason not […][...]

April 6th, 2010 - 11:31 am § in bookkeeping, business start up, General Info

How to set up an LLC in Wisconsin

Setting up an LLC in the State of Wisconsin is extremely simple. As always, care should be given prior to completing the following tasks to avoid further cost and the hassle of correcting simple mistakes.  If you have decided to form an LLC, the following two steps are needed: An LLC may be set up [...]

April 6th, 2010 - 11:03 am § in bookkeeping, business start up, General Info

Which type of entity is for you?

One of the very first administrative decisions you must make after deciding to go into business is what type of entity, or business structure do you want or need?  Depending on which structure you choose, there will be legal and tax considerations that go along with the selection. Available Busines[...]

April 6th, 2010 - 9:40 am § in bookkeeping, business start up, General Info

The order of things…

What to do first and why! Over the past decade I have either set up myself, or helped set up numerous businesses in the State of Wisconsin.  If done correctly it’s a simple task that sets up the administrative blueprint for your company.  If not set up correctly it may be costly and time consumi[...]