Abacus CPAs November 2016
Registered Agents
by: Christina Cooper
When creating a Limited Liability Company, also known as an LLC, there are several requirements that must be met in order to successfully file for a LLC. One of those requirements is to have a Registered Agent. The term Registered Agent is a term that many business owners have never heard of. Below you will find a few frequently asked questions regarding a Registered Agent, in hopes this helps you understand what a Registered Agent is and the role it plays in your business.
[1] What is a Registered Agent?
Answer: Given you are in the transportation industry, and spend the majority of your time over the road, a Registered Agent serves as the receiver of important legal and tax documents for your business. Documents received can include, but are not limited to: [1] important mail sent by the State, [2] tax documents sent by the department of taxation, and [3] Service of Process, also known as Notice of Litigation, which are documents that initiate a lawsuit of some sort. A Registered Agent will receive these documents on behalf of your business and will then work with you, as the business owner, to ensure you have also received a copy of the information received.
[2] Who may serve or act as a Registered Agent?
Answer: A Registered Agent may be either [1] an individual who is a resident of the state in which the LLC is formulated in and whose business office address is identical with the entity's (i.e.: LLC) registered office, OR [2] a corporation authorized to transact business in the state in which the LLC is formulated in, and whose business office address is identical with the entity's (i.e.: LLC) registered office. It is important to note that a Registered Agent must also be available at their address during normal business hours: Monday - Friday, 8:00 am - 5:00 pm.
[3] Can my entity's (i.e.: LLC) registered office address be the address for a mailing service company (i.e.: Mailboxes, Etc. or a UPS Store)?
Answer: No. It is also important to note that a Registered Agent's address will be publicly accessible (meaning it is a matter of public record and anyone can access it).
[4] Can I change the Registered Agent of my business?
Answer: Yes. At any point a business owner can change who serves as the Registered Agent for his or her company. For most states, in order to accomplish this, a Statement of Change of Registered Agent form must be completed and signed by the business owner and filed with the State.  Keep in mind the Registered Agent must be in the same state your LLC is registered in.
Please feel free to contact Abacus CPAs, LLC for any questions or concerns you have regarding your LLC or Registered Agent!

by Shawn Koder
We often get the question, "How much money should I set-aside to ensure I have enough to pay my business taxes?" from our clients.   Here is our answer!

Abacus CPAs recommends that all of our Lease Drivers set aside 25-28% of their weekly net income.  We can't know the absolute number you will need, but feel confident that will be a good guideline to prepare you for your quarterly income taxes.

 If you have further questions , please contact one of our tax professionals at Abacus CPAs (417) 823-7171

On The Road Recipes!
by Cindy Abner  
Easy Crockpot Beef Chili
1 lb ground beef (or 28 oz can Keystone Ground Beef-pre-cooked)
1 pkg McCormick Chili Seasoning Mix
1 can diced tomatoes or chili-ready tomatoes, undrained
1 can Kidney Beans, undrained
1 can chili beans, undrained
1 ½ teaspoon salt
¼ cup chopped pickled jalapeños or green chiles, drained (optional)
Shredded cheddar cheese
Saltine Crackers
Brown the ground beef in the electric skillet and drain the fat, using the lid. (If you empty one of your cans of beans into the crockpot, you can drain the fat into the can to dispose.)
Transfer beef into the crockpot.  Stir in seasoning mix, tomatoes, both cans of beans, and salt.  Cover and cook for up to 8 hours on low and up to 6 hours on high.
For a little kick, stir in ¼ cup jalapeños or green chiles, drained.
Top with shredded cheddar cheese. 
Leftovers can be refrigerated or frozen.

Services Include

Tax Return Preparation
Quarterly Estimates
Strategic Growth Plans
Debt Structuring
LLC Formation
Registered Agent Services
Tax Problem-Resolution
Business Consulting
Audit Assurance
Financial Statements
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(Please note that you will be placed on a short hold in order of caller and the first available representative will be able to help you!  Our offices are open Monday - Friday 8am-5pm CST)

 You can also find helpful information at
Cindy's Corner 
Tips from a former driver!

'Tis the season to plan for time off the road to be home for Thanksgiving and Christmas.  The sooner you let your Fleet Manager know about your plans, the better chance there will be that he or she can get you a load going back home.  If you wait until the last minute you may have to bobtail home, which is hard on the pocketbook. 
If you are working over the holidays, make sure to take advantage of the special meals that the terminals and truck stops offer during this time.  It will be a chance to share with others and avoid the lonely feeling of being in a truck all day. 
For those of you not working the holidays, remember to be thankful for those who are! Their sacrifice during this time makes it possible for you to spend time with your families and keep the freight rolling.
We appreciate all of you!  
Happy Thanksgiving!!

____ __________________
  A Truck Driver's Order 
A young man, at his first job as a waiter in a diner, has a truck driver sit down at the counter and order, "Gimme three flat tires and a couple of headlights."

Bewildered, he goes to the kitchen and tells the cook, "I think this guy's in the wrong store, look at what he ordered!"

The cook says, "He wants three pancakes and two eggs sunny-side up."

The waiter takes a bowl of beans to the truck driver.

He looks at it and growls, "What's this? I didn't order this!"

The young man tells him, "The cook says that while you're waiting for your parts, you might as well gas up!"