It’s common to think, “I’ll wait until we grow some before I spend the money to form a corporation or LLC.” But delay in selecting the right legal entity when starting a small business can wind up costing a lot of money in higher taxes, as well as creating a potential legal disaster for the entrepreneur’s family.
Starting a business up with a partner is a great idea—not only does a business partner effectively halve the staggering amount of work that comes with forming a new company, but having a partner also means having someone to talk to and bounce ideas off of.
Are you a freelancer or independent contractor who receives a Form 1099 instead of a W-2 form at the end of the year? If so, then you should be aware of the five tax issues that are the most likely to cause IRS trouble for anyone subject to 1099 reporting of wages or income.
When you started up your business, it was probably not because you love running your own human resource department and wanted to deal with hiring and payroll issues. These days, many small companies are using leasing firms to handle many of their staffing issues.
Selecting a business entity is one of the most important decisions you will make when you start your business. Each of the options you have will have their own strengths and weaknesses, and this guide will prepare you to make the right decision.
If you want to do business using a business name, as opposed to your personal legal name, then you’ll need to file a DBA. This article discusses the purposes of a DBA, and how their use might differ if your business is a sole proprietorship, LLC, or corporation.
Small Biz Club is the premier destination for small business owners and entrepreneurs. To succeed in business, you have to constantly learn about new things, evaluate what you’re doing, and look for ways to improve—that’s what we’re here to help you do.