DONT LET BUILDING YOUR BUSINESS OVERWHELM YOU
WE CAN MAKE THIS PROCESS SIMPLE
PICK A STRONG NAME
PICK A UNIQUE NAME THAT YOUR CUSTOMERS WILL REMEMBER YOUR BRAND BY
REGISTER YOUR BUSINESS ENTITY
CHOOSE A LLC OR S-CORP BASED ON PROJECTED OR CURRENT PROFIT MARGIN. ALSO CHOOSE BASED ON HOW MANY EMPLOYEES YOU HAVE OR PLAN ON HIRING
OBTAIN YOUR BUSINESS TAX ID (EIN)
THIS IS THE NUMBER 1 KEY TO BUILDING BUSINESS CREDIT. YOUR BUSINESS WILL NEED ITS OWN IDENTIFICATION NUMBER.
OBTAIN YOUR BUSINESS TAX ID (EIN)
THE FIRST STEP TO BEING IN BUSINESS IS TO ESTABLISH A CORPORATE ACCOUNT WITH A PRIMARY BANK. SOME LENDERS CONSIDER THE DATE YOUR BUSINESS ACTUALLY STARTED. REGARDLESS OF ITS REGISTRATION DATE.
LLC
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Benefits of an LLC start with seperating you from your business.
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Instead of using your own SSN number on documents you receive from your customers or clients, use your business and its EIN instead. Keeping your SSN private.
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Usually make less than $100k and file your business income on a schedule C on your own tax return.
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Usually you are a sole proprietor and only employee of your business.
INC
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Typically INC when You have more than yourself as an Employee of the business
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Your business is grossing over $100k yearly
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You would like to take advantage of TAX advantages of an S-CORP
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Your business is growing and you need to prepare for multiple employees.
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There are multiple owners or shareholders of the business making executive decisions on behalf of the business.
You can Request more Guidance through a FREE 15 min consultation here:
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