Bought the cart, now I need a horse... (LLC Taxes!)

My friend and I have established ourselves with the state government (here in the US, for all you non-Americans ) as an LLC. After we did, the question of taxes and accounting came up.

I've done some research since then, but haven't really been able to find much in the line of accounting for an LLC. So, the question to you generous lot: Do you know of any resources for taxes and accounting for an LLC?

Thanks!

well, i have started a self employed biz, llc, and was 2 steps from s-corp.
what is it you mean by resources for tax's? accounting yea look up accounting firms
or are you looking to do all the book work yourself?
anyhow your state should have all the info you need on self,llc,s-corp,inc.
on there website. I forget the inc company i used they had a link for every standard and the state you wanted to start in. just look up starting llc. any site you got to will somewhere have a link to your state and its law's and guide line's for whatever form of biz you start. DONT KNOW if any of this helped but lol hope it pointed you where you were wanting to go. further explain, i will help if i can.

Each state has its own set of rules and regulations regarding taxes and whatnot. Generally there are sites to point you directly to all of the business info you could possibly want, short of going to a lawyer. I don't know what state you're in, but for basic info, or maybe even ideas on what type of things you would want to know and may not know you want to know, you can visit these 2 sites (These are for florida). This may give you some examples, or explain a few things better.. Or well.. if you're in Florida, then even better...

MyFlorida.com
Sunbiz

Also, you may be able to find out some useful/helpful info at your local
SBA (Small Business Administration)
or
SCORE

Hope this helps.

its been a few years since the last i was starting a business,
but that score site is awesome, I got hooked up with a guy in my state a half hour away from me, he called me spent an hour on the phone with me and after he told me everything i needed to know he offered to to meet with me if i needed.
all free, that place is awesome look there for any help with starting a business

None of the suggesions above can hold a candle to the repository of small business books at Nolo Press.

Look em' up on the web. They'll have what you are looking for!

LLC taxation is different from that of a corporation or other business entities in a number of ways. First, the LLC does not pay federal taxes on its earnings through the year. Do not misconstrue that as reading “tax free” because that is not true. However, the way that the taxes are paid is different. A corporation is a separate tax entity and will pay taxes as a whole with the corporate members paying taxes on their individual earnings as well. A LLC is a pass through entity so there are no taxes levied on it.



Limited Liability Company taxation does not tax the company because the earnings do not technically stay with that company; they pass through to the business owners whether there is one, two or fifteen of them to deal with.



Corporate taxation is different from LLC taxation in other ways as well. For instance, once the corporate taxes have been assessed, the amounts that are levied against the corporate members might be very different as well. Each corporate member may pay a different amount of tax because their individual earning level will be different. For the LLC all of the owners will get a share that is equal to the amount they have invested in terms of both time and money and will be equally taxed for those amounts by the government. How those taxes are assessed and what forms will need to be filed is an individual thing and has many factors that must be figured before a definitive answer can be devised. It is best to consult a CPA who can explain these figures more clearly.