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Understanding the organization’s goals and the best way to achieve them.

LLCs can fail due to lack of planning, insufficient capital, poor management, or market conditions.

An example of a strategic plan in business might include a company deciding to expand its product line to capture a new customer segment.

Lack of market demand for the product or service.

Yes, if the LLC elects to be taxed as an S-corporation, the owner can be treated as an employee and receive a salary.

Kansas business income tax is based on the business owner’s personal income tax rate for LLCs, as it’s a pass-through entity.

The 5 components of business strategy are: Vision and Mission, Objectives, Strategic Initiatives or Actions, Resource Allocation, and Performance Measurement.

Paying yourself for your business can be done in several ways, depending on factors such as your business structure, cash flow, and personal financial needs. Here are common methods for paying yourself for your business… Owner’s Draw or Distribution As the owner of a sole proprietorship or a single-member LLC, you can take the owner’s draws or distributions from the business’s profits. This involves transferring money from the business bank account to your account for persona

Yes, LLCs in Kansas must pay an annual report fee.

Analysis, Formulation, and Implementation.