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What is the use of annual report filing?

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Judah wrote on : Wed Mar 24th,2010 Back to Article

Why is this information so heavily relied on by commercial, financial, and legal sectors? How is it used and for what purpose? And I read on this site this site that LLC's didn't have the paperwork that other business had, for instance it was mentioned that you didn't need payroll with an LLC. What about recipts of purchase and how do you account for tips or "Palm Money" ?

Reply : infotaxsquare.com

Dear Judah: Thanks for choosing InfoTaxSquare.com for your business. Yes, payroll is not mandatory for members in LLC and you can claim any legitimate expenses incurred for your business.

If you have any question please either email us at support@infotaxsquare.com or call at 516.822.3100. We will be more than happy to assist you.

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