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[wethefreepeople]

In 2020 I lost my job due to the pandemic, and started a small llc in a last ditch effort to keep living independently. I employed myself for 2 years with freelance graphic work and web design. Trouble is I did zero accounting or record keeping, just basically worked and paid myself and made it through the pandemic, until I managed to get a new full time job with a great company on the digital resume that I built up.

My life is probably in the most stable place it's ever been now, and that stability is giving me more room to consider all the mistakes I made with my business. I want to get my company in compliance again, and get my past filings up to date so that I can put the lid on that coffin and focus on my current job. Trouble is I have no idea where to start. I know this sounds ridiculous and irresponsible, so I'll take whatever criticism's due. I just want to get this behind me and any advice is greatly appreciated.

 

[bealive]

@wethefreepeople Many entrepreneurs have been here. I personally have been there twice. Learn from this and grow.

Call an accountant, get a list of what they need, get all of it within a week for them and get them going on it.

If you don’t have the money to pay irs if you owe, then you set up a payment plan. They like it when you find them vs them finding you.

 

[nrnowlinma]

@wethefreepeople I understand, I work with companies in this predicament. First step is clean up the books so that you can accurately file the past due taxes. Note, it's not easy nor cheap, as the filings will likely trigger fines and penalty's. Find as many receipts and invoices as you can related to the business and reach out to myself or another accountant/bookkeeper for this work so you can get it done! It's always better to take it on the head and do the right thing! I do not teach during clean up, but I do offer the chance to set things up and do more teaching and check in's to help, so it's an option for you as well!