Misconceptions Regarding LLC Formation for Small Businesses

Misconceptions Regarding LLC Formation for Small Businesses 1

Your business formation is an essential component of any new startup. You don’t want misunderstandings to cause you to choose the wrong formation type. Here are a few common misconceptions about setting up a small business as an LLC. Misconception 1: It’s easy – Don’t get us wrong, it is doable. However, it is not […]

4 Reasons to Set Your Small Business Up as a Corporation

4 Reasons to Set Your Small Business Up as a Corporation 1

When you are forming a new startup, one of the considerations is whether you should incorporate. Let’s take a look at some of the reasons you may decide this is a smart move for your small business. Tax savings – A sole proprietor will pay 15% in self-employment tax on all taxable income. Therefore, you […]

Tips for Starting a New Small Business Online During COVID-19

Tips for Starting a New Small Business Online During COVID-19

With non-essential businesses closed down in California, many of us are out of work or handling a reduced workload. Could this be the time to start that online business you’ve been thinking about? Here are a few quick tips. Come up with an online business idea – From tutoring to making small items to sell […]

What Will the Coronavirus Stimulus Package Do for Your Small Business?

What Will the Coronavirus Stimulus Package Do for Your Small Business?

As this article is being prepared, the Senate has already passed the coronavirus stimulus package, and members of the House of Representatives are traveling to the nation’s capital for a vote. If the package is passed as-is, how will your small business benefit? Here are a few highlights: Direct payments – Unless you or your […]

Why You Should Have Business Contracts in California

Why You Should Have Business Contracts in California

In California, you can argue breach of contract in a court of law, even if you only had a verbal agreement with someone. So that does that mean business contracts are useless? Absolutely not! In fact, there are some situations where the courts will not hear your case unless there is a written contract. Here […]

How to Know If Your Small Business Requires an Employer Identification Number (EIN)

How to Know If Your Small Business Requires an Employer Identification Number (EIN)

Many small business owners get confused as to whether they need an EIN. The secret is in what the acronym stands for – employer identification number. Clearly, this number, which is acquired from the government for tax purposes, is primarily for businesses with employees. With that in mind, a sole proprietorship falls into one of […]