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!
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.