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