NetWorthBasics.com

HOW IT WORKS – ENTITIES

TABLE OF CONTENTS

				*HOW IT WORKS –*
				*ENTITIES*

				Developed for use exclusively by:
				Our customers/clients.

This information is an attempt to answer a few questions about your business entity. It is
not all inclusive but rather a place to turn to for a first reference when questions arise.

AT THE START:		. . . . . . . . .			2	*View*
	What needs to be done now.

PAYROLL DEPOSITS – OVERVIEW:		. . . . . . . . .			3	*View*
	Simple overview

THE FIRST QUARTER		. . . . . . . . .			4	*View*
	How an example quarter works – dates, filings

THE FIRST YEAR		. . . . . . . . .			5	*View*
	The deadlines, the filings

CHANGES		. . . . . . . . .			6	*View*
	salaries, location – addresses

BOOKS		. . . . . . . . .			7	*View*

THE CHECKBOOK (or Journal)-all entries ( *View* )must show category or account (*View*) .					8,9

Example MINUTES: (n/a for Proprietorships)		. . . . . . . . .			10	*View*
	for annual company meeting minutes, etc.

SOME REQUIREMENTS / SUGGESTIONS		. . . . . . . . .			11	*View*
	payrolls, salary, minutes, 1099s, workmans comp., loans, client money saving tips

COMPUTER USAGE		. . . . . . . . .			12	*View*

How we work: invoicing, past due accounts, canceled services				. . . . . . . . .	13	*View*

ASSET SOLD/ BOUGHT, DEPRECIATION		. . . . . . . . .			14	*View*

ANNUAL BUSINESS REVIEW – Use w/ annual meeting.			. . . . . . . . .		15	*View*

A HIGHLIGHT OF RECENT CHANGES				see blog
1099s	who gets them, what amounts reported		. . . . . . . . .	see website or IRS Publ 334
Comparing entities		. . . . . . . . .		On consultation basis
Some options available		. . . . . . . . .		On consultation basis
	renting office space, To hire family or not