So…I haven’t really posted anything recently.  Besides grieving, which really is not for the faint of heart, I went back to school to take some more accounting classes.  My degree is in Business Administration, and I transferred to a four-year after taking classes for a Small Business/Entrepreneur Associate in Arts degree.  So I have taken my fair share of business classes, however not so many accounting. Of course, I have life experience, but according to the Cal CPA, I don’t have quite enough on the accounting side to sit for the CPA exam. I started up again in May, and have been going strong ever since.

Anyways, about legalities.  I finally sat down and started writing my business plan.  It is really important to have one, even if you are not seeking financial help.  This is my fourth one.  Years ago, the first business I was going to start was a pet sitting business with my sister.  We were going to call it Me & My Sis Pet Sit.  That didn’t pan out, since life got in the way, and I moved about two hours away from her.  My next business was my wedding planning company, A Joyeux Day Weddings & Events.  I had that for several years, but it was more of a hobby at the end.  My next venture was with my late husband, C & E Catering, we did a few events together, However, he was an awesome chef, and his career took off. It’s hard to have a catering biz, if your husband is working weekends!

Then we come to Cross Professional Business Services, LLC.  Yes, I finally did it, and actually for the first time have a Limited Liability Company.  I have been reviewed for compliance, and approved by the California Secretary of State.  I had an EIN, business banking account, DBA, and resellers permit with A Joyeux Day, but I filed taxes as a sole proprietor. My biggest issue with the LLC in the past was paying the $800 within four months of opening, but new legislation was passed last year, and you do not have to file the $800 until April, at least for those that open businesses in the next couple of years.Anyways, back to becoming a Limited Liability Company.  It was really simple.  I filled out a form on the Secretary of State’s website on Thursday, August 19th, and was approved on Monday, August 23rd. It was $75, with a certified copy.  I pushed back my opening until October 1st, so I am not one officially, yet.  I am my own registered agent.  Once October rolls around, I just have to send them my Statement of Information which will cost another $20.  I have to renew every two years in October for $20.  Not too bad, since I am able to limit my business liability, and give some more credibility to my new business venture.

After I was approved for the LLC, I got an Employer Identification Number.  I had one for A Joyeux Day, but I am pretty sure I had to wait for it the mail, after applying online.  Nowadays it is even quicker, you get the number while still on the IRS site. When you have your own business, it’s always better to have an EIN, even if you are a sole proprietor.  You don’t want your social security number out there.  It is also better to use an EIN to open up a business bank account, which as a bookkeeper, I am telling you now, you need to keep your personal and business finances separate.  If you don’t, you are dabbling, and have a hobby, not a business. Plus, everything gets really mixed up, and it will cost you a bit to get it all straightened out.