Browsing Tag

corporation

17 posts
choosing a business structure
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4 Factors to Consider When Choosing a Business Structure

Structuring your business is one of the first—and most important—decisions you make in your entrepreneurial journey. Your business entity impacts everything from taxes to daily operations. But if you’re just starting out, you might not know what to look for in a business structure, and that’s OK. We have your cheat sheet right here.  StartupNation exclusive...
business entity
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LLC or Corporation: Which Entity is Best For My Business?

Two of the most popular entity formations for business incorporation are limited liability companies (LLCs) and corporations. Both entities provide startup owners with certain benefits, and one of the biggest benefits is limited liability. This creates a separation between the assets of the business and the owner, and protects the owner’s personal assets in the...
incorporate
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How to Become Incorporated and Why to Incorporate Your Business

On your small business journey, you will encounter many forks in the road. Choosing the right direction for your company as it matures may seem daunting at times. One of the “forks” you must consider is whether or not to move your business from its default sole proprietorship status to another type of legal entity....
taxes
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Navigating Your First Year of Filing Taxes as an Entrepreneur

If you’re planning to start up a new business this year, you’ll experience tax time as a business owner soon enough. The following tips will help you prepare well in advance. And if you started a business in 2018, you’re likely wrestling with your company’s first experience with taxes right now. As an entrepreneur, you...
compliance
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What Mom and Pop Shops Need to Do to Stay in Compliance

Each year on March 29, we celebrate the owners of Main Street’s small businesses and startups with National Mom and Pop Business Owners Day. As the backbone of the U.S. economy, these family-run companies pack a mighty punch over their bigger competitors. These businesses put their customer first, engage with the community, and are able...
corporations
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Corporations vs. LLCs: What’s the Difference When Structuring a Business?

When you are starting a business, the legal structure you choose for it is a critically important decision. It will affect things like the cost of operating the business, its taxes, the potential for you and any other owners of the business to be held financially liable for problems it may develop, as well as...
corporation
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Which is Right for Your Business? Forming an LLC or a Corporation

If you are an entrepreneur, you have probably had somewhere close to a hundred business ideas run through your mind. Maybe you’ve already taken the plunge to starting your own business and are looking for the next step. When establishing a business, there are plenty of hoops to jump through, one of which is the...
accounting
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Accounting Errors Small Business Owners Make in the First Year

I’ve worked in accounting my whole career, so I can say this without shedding a tear: hardly anybody starts a business because they love balancing books. (Some of us do, sure, but we’re the minority). Accounting is a necessary evil and, when put up against all the other demands of getting a business off the...
Business decisions
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2 Essential Business Decisions Many Entrepreneurs Misunderstand

Starting a business for the first time can be scary, and not knowing what to expect can make the unpredictable nature of risk seem as big as the Grand Canyon. If you’re lucky, you’ll have friends and colleagues who can guide you along the way. Or, you can hire a business coach who has achieved...
Business incorporation
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Business Incorporation: Are These 3 States the New Corporate Darlings?

For years, Delaware and Nevada have been the “it” states for small business incorporation and with good reason. Both states offer up many benefits to doing business: Delaware enables the owners of a corporation to limit the amount of information available about them, and Nevada offers favorable tax treatment for corporations. Lately, we’re noticing lots...
Tax Dates
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April Tax Dates Small Businesses Need to Know About

Hello, April! After covering January, February and March, it’s time for the fourth (and final) installment in our series on tax dates small businesses need to know about. April is a huge month for tax dates, with the standout date being April 18 as the income tax deadline for both individuals and corporations. We’ll also look...
Incorporate
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To Incorporate or Not? The Many Small Business Structures

To incorporate, or not? It’s a perennial topic that has plenty of surrounding myths. As with so many things, there isn’t one right answer. Entrepreneurs, especially those who work solo, have choices. There are three main types of corporate organization in the United States: sole proprietorship, partnership and corporation. There are nuances based on federal...
Corporation
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Should You Change Your Sole Prop to a Corporation?

There are so many strategic business decisions you’ve got to make as a business owner, and you don’t always know which is the right one for your company. When you’re running a startup, it can be frustrating when you’re unsure of what to do for the benefit of your company. Related: Incorporate Your Business Through...
Corporations
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Why Your Corporate Structure Matters More than You Think

When you’re in the process of legitimizing your startup, it’s easy to get swept up in the jargon and not fully understand the difference between the entities. You might be familiar with LLCs and corporations, but what about everything else that comes after that like the B Corp., C Corp. and S Corp.? What’s the...
Incorporating a Business
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Incorporating a Business: Where, When and How

Incorporating a business is not synonymous with “incorporating a business in Delaware,” yet many businesses do incorporate in Delaware. In fact, according to Delaware’s official website, it consistently ranks among the top five states for entity formations (Florida, California, New York and Texas being the other four). The state also leads in out-of-state incorporations, that is, when...