Posts Tagged ‘Business Entity’
Top 3 Legal Mistakes of Beginning Entrepreneurs
You’re an entrepreneur about to launch your new idea and form your own company. You’ve done your homework and you’re ready to go into business and make money. What could possibly go wrong? Let’s double-check that homework, because there are 3 very common legal mistakes that entrepreneurs make when they start out. Unless you avoid…
Read MoreBusiness Formation: A Crucial Component for Entrepreneurs
We’ve all seen advice from the Internet that looks far from credible. There are the questionable websites promising countless get rich quick schemes. Weight loss is as simple as a eating this, trying out this miracle drink, or purchasing the newest stair stepper. My personal favorite is Facebook advice from Joe Somebody who specializes in…
Read More8 Reasons to Incorporate Your New Company Early
Many entrepreneurs are so focused on finalizing their innovative product or service that they procrastinate on the formalities of forming the requisite new company until later. Unfortunately, waiting until later will dramatically increase the risk of losing ownership of the solution they worked so hard to complete in addition to personal and family assets. Although…
Read MoreSole Proprietorship: Is the Risk Worth It?
If you are considering starting a business, the simplest and least expensive form of business is a sole proprietorship. A sole proprietorship is a one-person business that reports its income directly on the individual’s personal tax return (Form 1040) using a Schedule C. There is no need to file a separate tax return as is…
Read More7 Reasons You Need to Incorporate Today
Choosing how a business is organized, taxed, and protected is one of the most important first decisions you will make as a new business owner. While most businesses make the decision to incorporate right at the start of the business, some wait too long and lose valuable benefits year over year. Depending on the business…
Read MoreUnderstanding the Difference Between an LLC and an S Corp
You have many options when it comes to choosing a structure for your business. Two of the most popular options include the limited liability company (LLC) and the S Corporation (S Corp). These two business entities have many similarities although it’s important to understand the differences and how they will affect your taxes, business management,…
Read More7 Ways to Avoid Legal Mistakes Commonly Made by Entrepreneurs
Business Structure Types for Entrepreneurs
How Do I Set Up My New Business for Tax Purposes?
An Overview of S-Corporations
