Browsing Tag
LLC
33 posts
How to Form an LLC in Michigan
Starting a business is an exciting journey. For many entrepreneurs, starting a business is their chance to take their product to market, to become part of their local communities and to start making income from their own ventures. Many entrepreneurs choose a limited liability company (LLC) as a preferred vehicle for that journey. An LLC...
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...
Starting a Business with a Partner? Here’s What You Need to Know
Opportunities to start a business can happen at any time, even during a pandemic. Amid COVID-19, many individuals spent their time in quarantine practicing a side hobby or developing a new offering that meets the needs of their target audience. As more people lean into entrepreneurship, some have decided not to go it alone. Instead,...
10 Tools to Kickstart Your Freelance Operation
Making the decision to freelance is a big one. It requires some serious determination, entrepreneurial spirit and a whole lot more that you might not have initially considered. Things like tax forms, software and a workflow are essential to being a freelancer, yet secondary to your primary duty. Whether it’s writing, editing, animating or designing, we...
How to Foreign Qualify Your Startup to Do Business in a Different State
What happens when a small business has incorporated in one state, but wants to obtain the authority to do business and conduct operations outside state lines? Generally, most small businesses must file an application to foreign qualify. A foreign qualification, if you’re unfamiliar with the term, allows businesses to legally do business in states outside...
S Corp vs. C Corp: What’s the Difference?
When you start to develop how you want your business to be set up, you have a few different options to choose from. Some will go with an LLC, while others will look into an S Corporation or C Corporation. While they only have one letter difference, how they operate aren’t exactly the same. Here’s...
5 Reasons Why You Should Form an LLC for Your New Business
Many entrepreneurs initially start a business as a sole proprietorship instead of a limited liability company (LLC). Why do they pick this entity? Forming a sole proprietorship allows entrepreneurs to exercise total control of the business. It’s also affordable to form and getting started requires little paperwork. However, the drawback is that sole proprietorships do...
Which Legal Entities are Best for Main Street Businesses?
As local storefronts prepare for Small Business Saturday tomorrow, entrepreneurs with an unincorporated business may be considering forming a legal entity. We’re in favor of this decision, especially since incorporated businesses are able to establish credibility quickly with consumers. However, many entrepreneurs may feel confused when it comes to business formation. Limited liability company or...
Which Entity Should You Incorporate Your E-Commerce Business As?
You’ve drafted a detailed business plan, identified your unique selling proposition (USP), and defined your business model. It’s almost time to launch your e-commerce business! Before you open your virtual doors and begin taking orders, however, you’ll need to structure your business by incorporating or forming an LLC formation. Why do businesses, whether they are...
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...
What Do Freelancers Need to Know About Incorporating?
In 2018, a survey from Upwork in partnership with the Freelancers Union revealed the state of freelancing in the United States. Given the continual rise of freelance work, it wasn’t completely shocking to see that the future of freelance is increasingly on the up and up. Last year, 56.7 million Americans were freelance workers, a...
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...
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...
Ready to Choose Your Business Structure? Entity Formations and Which One is Right for You
Incorporating is generally one of the best things a business can do to set itself up for success. However, entrepreneurs new to the process might feel overwhelmed by the options when it comes to business structure. Should you form a corporation or an S corporation? What’s the difference between a corporation and an S corp,...
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...
Can Personal Assets Still Be at Risk, Even With an Incorporated Business?
For nearly 20 years, our company has helped entrepreneurs and small business owners to incorporate or form LLCs for their businesses. Since this is something we specialize in, we have grown accustomed to spreading the word about the benefits that come with incorporation. One of the biggest benefits to incorporating your business is personal asset...
What is the Best Type of Business Entity for Your Home Based Business?
Solopreneurs of the world, unite! This year, FlexJobs released “The State of the Remote Job Marketplace” report that outlined what the current remote work industry and its workers looks like. Nearly four million workers, 3.9 million to be exact, in the United States spend half of their time working from home, totaling 2.9 percent of...
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...
How the New Tax Laws Might Affect Your Startup’s Financing
Many entrepreneurs in the U.S. have been keeping up with the recent changes to the tax law, passed at the end of 2017 and championed as a boon for small business. However, if you were planning on launching a new business this year, you might wonder how these new tax laws might affect the financing...
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...