Ready to start a one-owner business? Well, one of the first things that you’ll need to decide upon is whether you should run your business as a sole proprietor or form a separate legal entity to own and run it. By far, the most popular separate entity for one-owner businesses is the single member limited […]
When you want to establish a business, you need to do so legally, and the first step involves choosing the type of business that you will form. You have several options, including limited liability company (LLC), corporation, and partnership. But the most common form of one-owner business is the sole proprietorship.
If you run a business, you might need a license, permit, or certificate of some kind in order to operate. And you might even need more than one of these documents, depending upon the work that you do. If that’s the case, you certainly aren’t alone, as many businesses have to apply for licenses or […]
Once you establish your freelance business, you’ll be eligible to receive what’s known as an EIN, which stands for Employer Identification Number. This nine-digit number, which is sometimes also referred to as a Federal Tax Identification Number, is assigned to businesses by the IRS, and it’s used it for tax filing and reporting purposes.
Ah, taxes. No one can avoid them, including your LLC. So, once you’ve formed your LLC, you need to take taxes into consideration. The problem is that, when it comes to business taxes, things could get complicated. But the good news is that, with LLC taxes, you have several options.
As the owner of an LLC, your work is never really done. Just when you thought you could relax because your LLC is officially formed, you find out that there are other things that you need to do periodically to maintain your LLC in good standing. Failing to take these steps may result in having […]