majiayu000 Financial Management for Support Forge LLC
Track and manage business finances for Support Forge.
Business Information
SUPPORT FORGE LLC
166 Wilson St
Haverhill, MA 01832
EIN: 41-3821756
Formation: January 2026
State: Massachusetts
Type: Single-Member LLC (Member-Managed)
Fiscal Year End: December 31
Owner: John {YOUR_NAME}
Bank Accounts
Business Account (To Be Opened)
Bank: Mercury (Recommended) or Chase
Account Type: Business Checking
Purpose: All business transactions
Setup Status: Pending
Next Step: Open account with EIN
Current Payment Methods
ACH/Bank Transfer:
Account: 8252968985
Routing: 211370545
Zelle: {YOUR_EMAIL}
Venmo: {YOUR_EMAIL}
Income Tracking
Revenue Log Template
REVENUE LOG - [MONTH YEAR]
==========================
| Date | Client | Description | Invoice # | Amount | Status |
|------|--------|-------------|-----------|--------|--------|
| | | | | | |
| | | | | | |
MONTHLY TOTAL: $0.00
YTD TOTAL: $0.00
Revenue Categories
- Consulting - Hourly consulting work
- AI Enablement - Claude Code setup packages
- Web Development - Website projects
- Maintenance - Ongoing site maintenance
- Training - Training sessions
- Retainer - Monthly retainer agreements
Expense Tracking
Expense Log Template
EXPENSE LOG - [MONTH YEAR]
==========================
| Date | Vendor | Description | Category | Amount | Receipt |
|------|--------|-------------|----------|--------|---------|
| | | | | | □ |
| | | | | | □ |
MONTHLY TOTAL: $0.00
Expense Categories (Tax Deductible)
Software & Subscriptions
- Anthropic API (Claude)
- OpenAI API
- GitHub
- Domain registrations
- Hosting services (AWS, Vercel)
- Design tools (Canva Pro)
- Productivity tools
Professional Services
- Accounting/bookkeeping
- Legal services
- Business insurance
Office & Equipment
- Computer equipment
- Office supplies
- Internet (business portion)
- Phone (business portion)
Marketing & Advertising
- Website costs
- Advertising
- Business cards
- Marketing materials
Travel & Meals
- Client meetings (meals 50% deductible)
- Business travel
- Mileage (if applicable)
Education & Training
- Courses and certifications
- Books and resources
- Conference attendance
Business Operations
- Bank fees
- Payment processing fees
- Business licenses
- LLC filing fees ($520 MA)
- Annual report ($500 MA)
Monthly Financial Review
Checklist
MONTHLY REVIEW - [MONTH]
========================
□ Reconcile all transactions
□ Categorize expenses
□ Record all revenue
□ Save/organize receipts
□ Calculate profit/loss
□ Update YTD totals
□ Review upcoming expenses
□ Set aside tax estimate
SUMMARY
-------
Revenue: $______
Expenses: $______
Net Profit: $______
Tax Set-Aside (25%): $______
Profit & Loss Template
PROFIT & LOSS STATEMENT
=======================
Period: [Month/Quarter/Year]
REVENUE
-------
Consulting Services $______
AI Enablement Packages $______
Web Development $______
Maintenance/Retainers $______
Other Income $______
-------
TOTAL REVENUE $______
EXPENSES
--------
Software & Subscriptions $______
Professional Services $______
Office & Equipment $______
Marketing $______
Travel & Meals $______
Education $______
Business Operations $______
-------
TOTAL EXPENSES $______
=======
NET PROFIT $______
Tax Obligations
Federal Taxes (Single-Member LLC)
- LLC is "pass-through" entity
- Report on personal tax return (Schedule C)
- Self-employment tax: 15.3% on net profit
- Income tax: Based on total income and bracket
- Estimated taxes due: April 15, June 15, Sept 15, Jan 15
Massachusetts Taxes
- No separate LLC tax for single-member
- Report on personal MA return
- MA income tax rate: 5% flat
Quarterly Estimated Tax
Set aside 25-30% of net profit for taxes
QUARTERLY TAX ESTIMATE
======================
Quarter: Q[X] [Year]
Net Profit This Quarter: $______
Estimated Tax Rate: 25-30%
Amount to Set Aside: $______
Federal (Form 1040-ES): $______
MA (Form 1-ES): $______
Tax Calendar
2026 TAX DEADLINES
==================
Jan 15, 2026 - Q4 2025 estimated taxes
Apr 15, 2026 - Q1 2026 estimated + 2025 return
Jun 15, 2026 - Q2 2026 estimated taxes
Sep 15, 2026 - Q3 2026 estimated taxes
Jan 15, 2027 - Q4 2026 estimated taxes
Deduction Tracking
DEDUCTION TRACKER - [YEAR]
==========================
Category YTD Amount
----------------------------------------
Software/Subscriptions $______
Professional Services $______
Office/Equipment $______
Marketing $______
Travel/Meals (50%) $______
Education $______
Home Office (if applicable) $______
Business Operations $______
----------------------------------------
TOTAL DEDUCTIONS $______
Receipt Management
Organization System
Receipts/
├── 2026/
│ ├── 01-January/
│ ├── 02-February/
│ └── ...
└── Categories/
├── Software/
├── Equipment/
└── ...
Receipt Capture
- Take photo immediately
- Save to organized folder
- Note business purpose
- Keep for 7 years
Financial Goals
Revenue Targets
REVENUE GOALS - 2026
====================
Monthly Target: $______
Quarterly Target: $______
Annual Target: $______
Breakdown:
- Consulting: $______/month
- Packages: X packages × $______ = $______
- Maintenance: X clients × $______/month = $______
Expense Budget
MONTHLY EXPENSE BUDGET
======================
Fixed Costs:
- Software subscriptions: $______
- Hosting: $______
- Insurance: $______
Subtotal Fixed: $______
Variable Costs:
- API usage: ~$______
- Marketing: $______
- Other: $______
Subtotal Variable: $______
TOTAL BUDGET: $______
Tools & Resources
Free Bookkeeping Tools
- Wave: https://www.waveapps.com (free accounting)
- Zoho Invoice: https://www.zoho.com/invoice (free invoicing)
- Google Sheets: Simple tracking spreadsheets
Recommended Setup
- Mercury - Business banking (free, great for startups)
- Wave - Free bookkeeping and invoicing
- Google Drive - Receipt storage
- Google Sheets - Custom tracking
When to Get Help
- Revenue exceeds $50K/year → Consider accountant
- Complex deductions → Tax professional
- Multiple states → Tax professional
- Hiring employees → Payroll service + accountant
MA LLC Compliance
Annual Requirements
□ Annual Report - Due on anniversary of formation
Fee: $500
File at: sec.state.ma.us
□ Keep registered agent current
Current: John {YOUR_NAME}
Address: 166 Wilson St, Haverhill, MA 01832
□ Maintain LLC records
- Operating agreement
- Meeting minutes (if any)
- Financial records
Quick Commands
"Log expense [amount] for [category] at [vendor]" → Add to expense log
"Log revenue [amount] from [client]" → Add to revenue log
"Monthly financial summary" → Generate P&L for current month
"Tax estimate for [quarter]" → Calculate quarterly tax set-aside
"Expense report for [category/month]" → Generate expense breakdown