Writing a business plan is the most important part of the process of starting a business. Even if you just quickly write down your thoughts and ideas for what you want your business to be, it's good to have something in writing so you keep your focus.
When starting a business, you will want to know what form of business entity to establish whether it be a Sole Proprietorship, Partnership, Corporation, S Corporation, or Limited Liability Company (LLC). Your form of business will determine which income tax return form you will need to file each year.
An assumed name, trade name or DBA name is a business name that is different from your personal name, the names of your partners or the officially registered name of your LLC or corporation.
An Employer Identification Number (EIN) is also known as a Federal Tax Identification Number, and is used to identify a business entity.
Each state and locality has its own tax laws. I have added links below to key resources that will help you learn about your state tax obligations.
Owning a business can mean a lot of paperwork. First, there is the marketing plan that can help guide your business from year to year. Then, there are a myriad of documents that can be daunting to create: marketing analysis, budgets, proposals, invoicing, sale of goods, receipts, licensing, credit applications, and collection letters. These are [...]
A new entrepreneur has a lot of work to do if he or she wants to enjoy success with a new venture. This has always been the case as it is not easy to get started making money. This is especially true when one does not prepare properly for a new venture. Every new entrepreneur [...]
Many people dream of becoming an entrepreneur. The idea of starting your own business sounds fun and exciting. The prospect of shrugging off the rat race and becoming your own boss is a highly enticing one. If you are thinking of starting your own business or have already begun to do so, you will want [...]
Are you interested in starting a business? Do you have a product or service that you would like to sell? The first step towards starting a successful business is writing a business plan. A well-crafted business is a critical step towards securing the funds to start your business and keeping your company on the road to [...]