Browsing Tag

employer identification number

11 posts
legal assets
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What Are the Legal Asset Must-Haves for E-Commerce Startups?

What else does an e-commerce business need after it has incorporated as a legal formation? Quite a few assets, actually! Depending on the kind of e-commerce business you start, you may prioritize registration for certain assets, but here are the top five to file for: Trademark Basic business operation license(s) Employer identification number (EIN) Doing...
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What to Know About Opening a Franchise at Any Age

Investing in a franchise can be done at any age and for any type of career in transition. Whether you’re a millennial or a baby boomer, there’s ample opportunity available to become a franchise owner. However, owning and operating a franchise as a baby boomer is certainly a different experience as opposed to getting started...
tax forms
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6 Tax Forms That are Essential for New Businesses

Starting a new business can be one of the most exciting things you ever do. However, in order to make sure that your business realizes its full potential, you need to make sure that it maintains its financial health. And there is perhaps nothing more essential to a startup's financial well-being than making sure all...
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The Ultimate Legal Checklist for Freelance Professionals

Have clients, will freelance — it’s as easy as that to get started as a freelancer or contractor, right? Not quite. Before you agree to take on an assignment or project for a client, there are certain legal areas that need to be taken care of to ensure a mutually beneficial partnership. We’ve assembled a...
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Should You Incorporate Your Business as an LLC for Tax Breaks?

One of the biggest appeals of incorporating as an LLC has long been the ability to save money on taxes. In addition to limited liability protection and building credibility with consumers, forming an LLC allows you to choose between an S corporation and C corporation for your tax entity. But do you really receive as...
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Managing Estimated Taxes: Gig Workers and Form 1099

Freelancers and others in the gig economy are treated as small businesses by the IRS. Income is reported on Form 1099-MISC, which is submitted to the IRS by January 31 of the year after the money was paid. The 1099 tells the IRS that money was paid, making it important for recording both income and...
Business entity
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Learning the Ins and Outs of Business Entity Formation

Throughout my career, I have received many questions around business entity formation. There are many different types of business entities, including partnerships, professional organizations, sole proprietorships, corporations and limited liability companies. I have often noticed a misconception of how and where entities are formed, so let’s take a few minutes to learn the ins and...
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How to Get a Loan for Your Small Business in 9 Steps

Applying for a small business loan can seem overwhelming. It’s hard to know where to begin, and the finish line can seem so far away. By following these nine simple steps, your dream of obtaining a small business loan is attainable. Plan, plan, plan! The first step in any new business is to work out a thorough...
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5 Compliance Tips for Aspiring Entrepreneurs

Starting your own business is a dream-come-true that comes with a long list of disclaimers. Yes, it’s exciting, but as most of you are well aware, it can also be a rough ride. One of the biggest challenges of running a startup or a small business is meeting the diverse legal requirements for your specific...