It's possible to create a separate business entity for each venture you start. However, this can result in excess paperwork and legal filings. And in many cases, each business may not be earning a significant amount of revenue individually, making the paperwork seem especially tedious. To save some headaches and paper, this article provdies you with great tips to consider when dealing with multiple business types.
The most important things you need to know about one of the most popular business enitities: the S Corporation. What exactly is the S Corporation (or S Corp) and is it right for your business?
The LLC (Limited Liability Company) is a popular asset protection vehicle for small business owners, entrepreneurs, and real estate investors. It essentially forms a wall that shields individual owners from personal liability. In addition to this personal liability protection, the LLC can also offer tax advantages and other benefits.
Over the course of my career, I’ve helped over hundreds of thousands of small business owners incorporate a business or form and LLC. But I’ve also found there can be just as many questions after incorporating a business or forming an LLC. In this post, I’ve put together some of the more commonly asked questions to help you navigate life after the incorporation or LLC formation process.
Whether you're the next big thing in social gaming or organic knitwear, each startup eventually faces the same gnawing questions: How should I legally structure my business? Should I Form an LLC or an S Corp? What about an S Corp vs a C Corp? While circumstances vary among individuals and individual businesses, here are some general guidelines to help you jump-start your decision on business structures. There are other possible business types, but I'll focus on three: the LLC, the S Corporation, and the C Corporation.
Now is the perfect opportunity to focus on your goals and turn those dreams into a reality. More entrepreneurs than ever before are coming into their own as business owners. Make 2012 the Year of Your Business and follow these Top 5 Tips Entrepreneurs to start YOUR business in 2012!
Incorporating a business or forming an LLC is a relatively quick and painless process. However, while it may seem straightforward, there are some common mistakes that business owners make that can have a significant impact on their business as discussed in this blog post.
Many questions invariably arise throughout the process of incorporating or forming an LLC for your business. By far, one of the most common questions is…where? And more often than not, the question is framed as, “Should I incorporate in Delaware or Nevada?” These two states are hot choices for incorporation; and for good reason. However, as a general rule of thumb, if your corporation or LLC will have less than five shareholders or members (a condition which applies to the bulk of small businesses), it’s best to incorporate or form an LLC in the state where your business has a physical presence. In other words, unless your business has a physical office in Delaware or Nevada, it's going to be much easier and less expensive in the long run to incorporate or form an LLC in your home state.
The perks of starting your own small business and being self employed and succeeding at it.
As a business owner, the day will come when you inevitably will have to address the legal aspects of your business – and the sooner the better. And, fortunately, the process can be relatively painless and hassle-free. I talk to countless small business owners and freelancers who consider themselves too small to worry about incorporation. After all, you don't have mazes of cubicles…you may not even have any employees. However, incorporation can still be a smart idea even for the self-employed graphic designer or wedding planner and in this post we discuss the benefits of incorporating your small business.