Don’t Make These Mistakes When Forming Your New Business
Forming a new business can be a daunting task, especially if you want to create an LLC instead of a sole proprietorship. While there are plenty of benefits, you need to watch out for some potential pitfalls if you want to attain those advantages. Here are a few mistakes to avoid: Thinking it’s too difficult […]
How to Maintain Your Small Business’s Corporate Status
There are many benefits that can be derived from incorporating a small business. For one thing, you get protection for your personal assets by separating them from your business. You also get a number of tax benefits, including deductions that can only be taken by corporations. But these benefits only continue as long as you […]
What to Do When a Business Partnership Fails
Since half of all marriages in the US end in divorce, should it really be a surprise that business partnerships often do not work out? There are so many things that can come between business partners, for example: One partner may feel that he or she is carrying all of the weight of business operations […]
Is an LLC the Right Business Formation for Your New Company?
If you have an idea for a small business, you may wonder whether it is worth it to form an LLC or if you should just make it a sole proprietorship. First, let’s address what an LLC is. It stands for Limited Liability Company. It is a legal structure that allows you to be a […]
What Is an S Corporation (and Is It for You)?
Incorporating can have some great benefits for a small business owner. However, it is important to understand the different types of corporate formations and whether or not they will meet your personal business needs. Here are some things you should know about an S corp. What Is an S Corporation? Organizing your business as an […]
Small Business Owners FAQ: Do I Need an EIN?
A lot of small business owners ask this question. The answer is given away by the name, but you have to know what the initials stand for. EIN means employer identification number. With that in mind, it becomes clear that this number is only for employers. So the real question you have to ask yourself […]
