Tuesday, November 6, 2012

Want to form an LLC in Arizona, but I need tons of help.? ? Legal Office

So here?s the deal, I?m a 19 year old in a band in Phoenix and we are going on a big tour this summer. A friend mentioned to me something about forming an LLC to protect ourselves incase we get in any kind of accident, at which point I looked into it further. The more I look into it, the better it sounds. But I don?t have the slightest idea where to start. I would think we would be taxed as a sole proprietorship, under my name, but how would our taxes work if our only source of income is from selling t shirts, and that occurs in a different state every night? Our profit from that usually ends up being anywhere from $500-1000 / night, is that all taxable? And if so, would our high list of expenses be deductible from that? And then, how do we prove any sort transaction, since we don?t print recepts with each sale? The only real records we keep are handwritten tally?s each night. Thanks!

Source: http://attorney.solve-up.com/attorney/want-to-form-an-llc-in-arizona-but-i-need-tons-of-help/

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