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Hurricane Irene Impact & Going LLC

While we were not greatly impacted by the hurricane we did have to reschedule clients from Saturday (8/27). We had several regular clients as well as two parties (one Queen and one Princess party) that needed to be rescheduled. We had no damage from the weather but our power was off and on that day.  We are so very thankful that power is the only thing that we lost that day. At home though, we lost power from 9 a.m. Saturday until 4 p.m. Tuesday. So it was great to have the salon to go to during the day....It was a great retreat for me this week.

On another note, we finally took the steps of forming an LLC for Tickled Pink Salon. So we are now officially known as Tickled Pink Salon, LLC. This is something I wanted to do right from the start but it kept getting put on a back burner. But with us dealing with so many kids in the salon we (my husband and I) felt like this was necessary and so we went ahead and got it done. We did not use an attorney. We went to the NC Secretary of State website, printed off the instructions, printed off the forms, filled them out, and mailed them in with the payment to the state. It was very easy and pain free. We received notice within two weeks that it was accepted and approved. And we are very excited about it.

— Melodie, Tickled Pink Salon & Nail Spa, Clayton, N.C.

Print | posted on Wednesday, August 31, 2011 10:43 AM

Comments

 re: Hurricane Irene Impact & Going LLC

Gravatar left by vickie foster at 8/31/2011 7:19 PM
I have thought about doing this for a long time. My tax guy wants me to. Thanks for bringing this up, I should stop putting it off!

 re: Hurricane Irene Impact & Going LLC

Gravatar left by Joelle at 9/2/2011 8:19 PM
Besides.the.obvious.of.protecting yourself personally what are.the.other benefits of being an Llc. Tax breaks.etc??? I have.wanted to do this.for a long time.myself.

# re: Hurricane Irene Impact & Going LLC

Gravatar left by Melodie - Tickled Pink Salon at 9/3/2011 3:19 AM
My reasons are for personal protection. I don't fully understand all the tax issues involved (I leave that to my accountant) but just knew this was something that I needed to do to protect myself personally.

 re: Hurricane Irene Impact & Going LLC

Gravatar left by Genell-Nailed by Et Cetera Beaut at 9/12/2011 1:01 PM
Hi, I'm thinking of going the LLC route as well. I recently heard something about not being able to pay yourself if you intend on being a LLC as well. Wondering if you have any insight on the matter?

# re: Hurricane Irene Impact & Going LLC

Gravatar left by Melodie Hand at 9/26/2011 1:33 PM
Hi Genell,
I am unaware of not being able to pay yourself with an LLC. This is definitely a question for your CPA. Right now I am not drawing a paycheck as I am putting back into the business for growth. But it doesn't make sense not to be able to draw a paycheck from an LLC. I would think you would set yourself up as an employee???? Ask your CPA to be sure though because this is not my area of expertise. Good luck.

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