Startup and Launch

Choosing the best state to start a business is an important detail in your overall business plan. When it comes to launching a small business, “Location, location, location” is part of the formula for success. If you’re wondering if a specific location would give...

If you’re thinking about starting a Partnership, there are some important considerations to keep in mind. As with every business venture, there are advantages and challenges involved with operating a Partnership, and it’s best to understand what you’re getting into...

Whether you’re a business accountant serving entrepreneurs or you’re a business owner, it’s critical to understand sales and employment tax registration and ongoing requirements. Federal payroll taxes are the same no matter where a business is located, but state...

There's a never-ending debate on whether entrepreneurs are born or made. I don't claim to be able to make the call one way or another, but I have noticed several characteristics of successful entrepreneurs that business owners seem to share. While we're all unique...

Is it better to form a Limited Liability Company (LLC) or a C Corporation? Many entrepreneurs ask that question as they work through the many facets of transforming their dream of business ownership into a reality. The business structures have similarities and...

Congratulations! You have officially registered your Limited Liability Company or Corporation with the state. But now what? What happens next? While forming an LLC or Corporation is a critical first step to operating a formal business entity, there's more work to...

If you’re considering a Limited Liability Company (LLC) or Partnership as your company’s business structure, you’ll have many considerations to think about. Choosing a business entity type has ramifications legally, administratively, and financially—all of which...

If you're looking to start a cleaning business, there's plenty of opportunities to go around. In fact, the role of professional cleaning specialist is slated to be the fastest growing occupation for the next ten years. Whether you plan to buy an existing franchise...

Once entrepreneurs taste what it's like to be their own boss and carve their own career path, some decide to pursue starting multiple businesses. Depending on the situation, owning multiple Limited Liability Companies (LLCs) might make sense. Which leads to the...

A profit share agreement, sometimes called a profit share contract, is an important legal contract between two or more parties, such as individual business partners, businesses, employers and employees, or investors and entrepreneurs. A profit share agreement is...

Sole Proprietorships and Limited Liability Companies (LLCs) are popular business entities for entrepreneurs. If you’re thinking about starting a business, you might be wondering which of these entities would be a better choice. Let’s look at how Sole...

So you've decided to start a business in construction. Congrats! Despite the ebbs and flows of the real estate industry, there will always be work for you. While you may have the basics of your business, such as who to hire and what to call your company, here are...

If you have your sights set on incorporating your business, you may be wondering if a C Corporation or S Corporation is the better option. While both are popular choices, nuances exist that may make one or the other more advantageous for your situation. The...

Besides the questions of when and how to start a company, many entrepreneurs want to know where to incorporate a business. Each state has its own business laws and tax codes, so deciding where to form an LLC or a corporation should not be taken lightly. I recently...

Yes, it is possible to set up a Limited Liability Company (LLC) in another state, and there are two possible scenarios for doing so: Form an LLC in a state different from where the business owner lives and works. Register an existing LLC formed in one state to...

The Series LLC is also known as a Series Limited Liability Company or SLLC for short. It allows multiple Limited Liability Companies (LLCs) within a master LLC to operate as separate entities with their own names, bank accounts, and record keeping. Each series can...

A lot of entrepreneurs wonder what state should be used to incorporate a new business. Should it be their own state or maybe another state like Delaware or Nevada? There is no easy answer to that question, however, there are definite benefits for some businesses to...

The United States an ideal location for foreigners to start a business and capture that elusive American dream pushed so hard by the media and social media. It’s no wonder many international entrepreneurs dream about starting a business in the USA. Nonresidents can...

Today’s business owners have more options for business financing than ever before.  But some methods to finance your business may cause you to toss and turn at night more than others. Of course, stress can be subjective. One person’s definition of stress may be...

It is legal to use your home address for your LLC, C Corporation, or other business entity. You do need a physical address to register a business, but many sole proprietors and various types of professional services businesses don’t have a separate business...

I regularly speak to business owners about entity types and their potential impact from a tax perspective. A while back, I created a webinar for accountants (and other professional services providers that work with businesses) on the topic of business structures...

Tax implications are among the most important factors to think about when deciding on a business entity type. Some business owners are attracted to the simplicity of pass-through taxation, which is how a Sole Proprietorship, Ppartnership, LLC, and S Corporation are...

Are you thinking about how to start a restaurant business? Without a doubt, it's an industry that contributes immensely to our economy. According to statistics from the National Restaurant Association, there are over one million restaurant locations in the United...

A DBA - or Doing Business As is a name different from a company's legal name. It is also referred to as a trade name, assumed business name, or a fictitious business name. Typically, businesses use a DBA name when they want to market their products or services...

While most entrepreneurs choose to register a Limited Liability Company (LLC) in the state where they live and plan to operate, some decide to expand their operations into one or more other states by registering it as a “foreign LLC”. The LLC is considered a...

A lot of new small business owners assume that creating an LLC is a complicated thing. It’s not, actually. But it is one of the best things you can do to protect your personal assets and your business. Let’s take a look at what it takes to set your business up as a...

A single-member LLC can be taxed as an S Corporation if it meets the IRS’s eligibility criteria. In fact, both single-member and multi-member Limited Liability Companies can elect to be treated by the IRS as either an S Corporation or a C Corporation if they meet...

People often use the terms “nonprofit corporation” and “501(c)(3)” synonymously. However, they don’t necessarily mean the same thing, and it’s important to know the distinction if you plan to operate as a nonprofit organization. A Nonprofit Corporation is a...

A pass-through entity refers to a business that does not pay income tax of its own. Its income, losses, credits, and deductions “pass-through” to each business owner’s personal tax return, where its profits are taxed according to each owner’s individual income tax rate. Sole proprietorships, general partnerships, limited partnerships, limited liability partnerships, limited liability companies, and S Corporations are all pass-through entities. Corporations, and limited liability companies that elect to be taxed as a corporation, are not pass-through entities.

A large range of businesses operate as Sole Proprietorships – a type of business entity that has one person, or a married couple, as its owner and operator. In fact, there are more Sole Proprietorships in the United States than any other type of business structure,...