LLC or Limited Liability Company is a flexible business structure affording protection and various tax-filing options. LLCs can be owned by one or more people and can be filed as a single-member LLC or a multi-member LLC. LLCs have several advantages that a limited liability structure works to protect you from lawsuits, double taxation, and …
If you are looking to incorporate your business, you’re probably wondering whether you should form an S corporation or C corporation. S-corps and C-corps have quite a bit in common with one another. However, there are some key differences that you should be aware of when choosing between the two. S Corporation or C Corporation: …
There are many benefits to incorporating your business, no matter how small it is. A corporation or limited liability company (LLC) allows you to keep your business debts separate from your personal assets. So, if your business is ever in debt, creditors cannot go after your personal assets for repayment. You will be also able …
You are probably familiar with how your personal Social Security number (SSN) works andwhat you need to use it for. An Employer Identification Number (EIN) serves the same purpose, but for your business. An EIN is a unique identifier that allows the Internal Revenue Service (IRS) to track your business earnings and tax reporting. You …
Taxes may be one of the few certainties in life, but when it comes to understanding how they work, it is normal to feel, well, uncertain. On a yearly basis, the IRS adjusts more than 40 tax provisions for inflation. Inflation is the rate at which the average price level of goods and services in an economy over a period …
Have you ever wondered what is the best state to form an LLC? the most common states would be Nevada, Wyoming, and Delaware. However, the best state to form your LLC would be your home state. Believe it or not the disadvantages of forming your LLC outside of your home state outweighs the perceived advantages. …
Are you looking to start your own business? We’ve prepared this article just for you; here are the 7 best small business ideas or opportunities you can try. But first, you will need to assess the marketplace and decide for yourself if you have enough passion for the idea and commit to building it into …
Form SS4 is use to apply for an employer identification number (EIN). An EIN is a nine-digit number that identifies your business to the IRS (refer to what is an EIN?). In this form you are required to provide information about your business such as your business legal name, address, type of business structure and …
When filing for your EIN through our online-filing services, there is a chance that we’ll run across an EIN reference number (Error Number) during the process of your application and we’re left scratching our heads, since the IRS doesn’t provide a lot of details. Reference number 101 is the most common error that our agents experience …
When it comes to choosing the right name for your new business, the numerous amount of options can appear a little overwhelming. However, choosing a name can make or break your business so take the moment to let your mind run free and be creative! Using a business name generator is one way to help …
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Partnerships and Joint Ventures are mandatory for anyone starting an organization with partner(s). Partnership You create a shared business, which remains the property of all respective founders for the duration of the business unless assets or rights are bought/sold/traded to another member. Partnerships are ideal when you have a straightforward desire to start a business …
