Business Information and Help

Matt asked:


I am about to start a new business entity (probably an LLC), but I have already been earning income (intended for this business) under my name and personal bank account, since the LLC has not been formed yet and I do not have a business bank acount yet.

I will probably be filing IRS Form 8832 so that the LLC is taxed like a corporation, and can seperate my personal income tax from my business income tax.

Can I transfer income related to the business that i personally received before starting the LLC into the LLC so that the business would be taxed on it, and it would not be applicable towards my personal tax? How would this be done?

The income was received within the 2006 tax year, so I’m assuming i may need to start the LLC within 2006 as well?

P C asked:


I am starting a new division of my advertising agency that has been is business for 25 years. I am looking to give huge incentives in travel packages and purchasing product or services from the business that would become a new client. But I am looking for people that know something I don’t about getting to the companies that could utilize these sevices. Services that are 100% professinal and operated by mature professionals. This is moblie billboard that are pulled in high traffic areas from 6am to 2 am. Thanks for you input !

Amanda asked:


My husband runs his own subcontracting business and he is needing to apply for a business credit card. I researched some and so far Discover’s business card seems good. Any other ideas?