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 […]

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 […]

Don’t Make These Mistakes When Forming Your New Business

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

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 […]

Is an LLC the Right Business Formation for Your New Company?

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 […]