Re: Tax stamp write off?
First write a business plan!
Then create the LLC and get a seperate banking account. Think of the LLC as a seperate person you are creating on paper. Dont mix money between the personal accounts and the business account make sure you have transaction records for every expense and dollar reecieved. You can put personal funds into the LLC for start up cash that can be written off. Document and keep records of the personal money you put into the account.
Second pay the tax out of the LLC bank account. Its not a write off, but an expense just like you were buying office supplies. The cost of the suppressor will also come out of this accout. The Supressor will be owned by the LLC, and not you personally.
Get business cards and market your services in the area for varmint control based on the business plan. Document what you have done in the ways to generate revenue and keep this on file. As long as you are making a good faith effort to generate revenue, and can document the things you have done, the IRS cant say its a hobby. (or at least you can fight it)
If you ever get rid fo the LLC, you have to pay a transfer fee again to put it in your name. As long as the LLC exists, you will have to file a tax return for the LLC even if it had no sales. Putting a Class 3 in a LLC is something you have to ask yourself if its really worth it due to the long term accounting requirements of a LLC. You could just as easily put it in your name and have no requirements. The savings you get from the write off will be eaten up immediately from what the accountant charges to do the tax returns.
I started a business that is an LLC, and its done very well. I have my supressor under the LLC, but I think a trust is a better way to go.
