Startup and Launch

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,...

If you’ve spent any time on this blog or researching how to incorporate your business online, you’ve probably found some terms that were a bit confusing. What’s the difference between an LLC and a C Corporation? What paperwork do I need to file annually? What are...

If you’re looking to start your own business, a Sole Proprietorship is an easy way to get started. A Sole Proprietorship is a simple business entity in which one person, or a married couple, acts as the sole owner and operator. Unlike a C Corporation or Limited...

All Corporations, Limited Liability Companies (LLCs), Non-Profit Corporations, and foreign entities registered to conduct business in the State of Colorado must file a periodic report each year with the Colorado Secretary of State’s Business Division. The intent of...

Delaware is known as a business-friendly state for such reasons including its lack of residency requirements, favorable tax structures, legal flexibility, privacy protections, and other advantages. A less friendly aspect of having your LLC based in Delaware is its...

If you’re gearing up to incorporate and get your business off the ground at the start of 2025, you might wonder when to file your business formation paperwork. Can you submit your incorporation forms now and request an effective date that is delayed? After all, the...

If you’ve been operating your business as a Sole Proprietorship, you may be wondering when’s the right time to incorporate your startup as a bona fide business entity. There are various reasons to consider incorporation and its important to know your timing can...

A franchise tax is a fee that some states charge businesses for the right to conduct business within the state. Less than half of all U.S. states levy a franchise tax on businesses like C Corporations and Limited Liability Companies. States that do impose this...

Think you’re the only business owner who wants to incorporate or form an LLC before the end of the year with your Secretary of State? Think again. Registering a business at the end of a calendar year can take longer than any other time of the year. Because everyone...

If you registered your Limited Liability Company in the state where you live and you are conducting most of your business in this state, your company is known as a Domestic LLC. It is licensed by the state to do business there and expected to uphold all the laws...

A Close LLC and a traditional LLC are essentially the same regarding how they’re formed, the personal liability protection they provide to business owners, and the tax flexibility they provide. A traditional LLC and a Close LLC have the following similarities: Both...

The Limited Liability Company (LLC) business structure is a popular choice for entrepreneurs who want to protect their personal assets, enjoy tax and management flexibility, and keep corporate formalities to a minimum. In this article, I’ll discuss the main...