Hi everyone! I’ve just filed my first LLC & am planning to open a vintage boutique in my city- I’m completely new to owning a legitimate business of my own. I thought this would be a great question to ask as I know I’ll be making many mistakes in my first year of business.
Please feel free to comment your favorite mistake!
Make sure you pay your workmans comp
Underrated advice
Learnt that the hard way. Knew nothing about it till they came knocking on my office door.
Uh oh…I’m a single member LLC. Do I have to pay workers comp??
I am too and I have no employees and I do not pay that
No, owners/officers are able to be exempt from WC. But if you hire anyone as W2 or 1099 you should have it for them.