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Incorporate your Business

 

The main benefit of becoming incorporated is the limited liability status that incorporation affords the company’s owners. Personal liability of the owners is restricted to their capital invested.
The primary disadvantages of incorporation are double taxation and the additional burden of statutory controls and record keeping. Double taxation relates to the taxation of the corporation’s profits and the taxation of the dividends from the net profits. It may be possible to avoid the double taxation through filing to the IRS to become an S-Corporation (professional taxation advice should be sought on these matters).

 

 

 

Once it is decided that becoming incorporated is the right course of action for your business you need to decide on a company name and in which state to incorporate. Name availability can be checked with the secretary of state for your chosen state of incorporation. At the same time you should also do a trademark check, this can be done at the US trademark website.

If you business is small and only likely to trade in your own state of residence then your own state is likely to be the one most suitable for incorporating in for your business. If you are likely to trade across states, and you are confident of significant growth, then a state such as Delaware or Nevada may be appropriate as they offer favourable trading conditions, although your set up costs and ongoing costs will be higher.

Documents Needed to Incorporate a Business

 

Small Business Loan Tips and Tricks

Sounds easy, well it is. First, get to know who your investors are going to be. If you are looking for a small business loan you are most probably going to borrow the money from a bank. A bank will look at you and your business and ascertain if it is a sound investment. They examine your risk potential and make a verdict on whether or not to move forward with approving your loan request.

How to get a Small Business Loan

 

Employer Identification Number (EIN)

Do you do business on the Internet? Are you thinking about it? If so, one of the first steps you need to take—or do right now if you're already doing business—is to get an EIN number from the IRS. Without obtaining an EIN, your finances can get a little confusing, but more importantly, you are opening yourself up to potential identity theft.

How to file for an EIN for your Home Business

 

Guaranteed Success Working from Home

Millions of Americans are involved in some type of independent contracting and/or home based business, but a very low percentage of them succeed. The trend is that business starters are inspired to work from home in order to have more flexibility and freedom. This article discusses the top 3 ways to guarantee success for a home business.

How to Succeed with a Home Business

 



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