Why Entrepreneurs Must Learn to Love Paperwork  

The Startup Magazine

There will be plenty of it early and often during your entrepreneurial journey, but rather than look at it as a headache you should consider the many ways in which it will help protect you, your family, and the company as a whole. Personal asset liability protection is not ironclad.

A Brief Guide to Creating a Startup

The Startup Magazine

And as you may know, there is much more to consider in terms of actually building a company that will be successful. This business plan should include a name for your business that is eye catching, memorable, and represents your company message.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Wind Farm Business: Startup Considerations

The Startup Magazine

The revenue is generated from owning and operating a wind farm and selling the produced electricity to customers. In addition, don’t limit your costs only to registering your business, licences, leasing and equipment – you’ll also need to invest in branding and building your customer base.

How to Put Personal Money into Your Startup In 6 Steps

The Startup Magazine

It is estimated that at least 80% of all startups rely on personal funds from their founders for operations, albeit in their formative stages. Failure to do so might leave you liable to tax and accounting liabilities.

Rusty Tweed Explains How to Structure a Business

The Startup Magazine

Limited Liability Company. The way that one goes about making a selection is based upon their field of expertise, size of the future project, amount of capital needed to get started, the risk and liability, and so on.

How to Start a Real Estate LLC – What You Need to Know

The Startup Magazine

For a real estate entrepreneur, a Limited Liability Company (LLC) is a great way to protect your personal property from seizure due to liability claims. It can be a member, an attorney or a service company. Operating Agreement.

LLC 82

How to Form a LLC

Up and Running

You might want to consider a limited liability company, or an LLC, because in some ways you get the best of both worlds: You get the benefit of personal liability protection, as you would with a corporation. Write an operating agreement. Liability protection.

LLC 115

What Type Of Insurance Does Your Business Need?


Think about the type of work you do and the nature of risks your company faces most of the time. The owner of the company encounters unlimited liabilities. The partners share the profits of the company amongst themselves based on their agreements.

What Kind Of Company Should You Create?


When you add in legal considerations such as assets, debt liability, and intellectual property (IP) protection it becomes clear that you have a lot to think about before making the choice that’s right for you. Limited Liability Company (LLC).

LLC 158

What to Do If Your Accountant Makes an Error

Up and Running

As the business owner, you may incur liabilities or suffer losses that stem from an accountant’s negligence. Choice of entity (C corporation, S corporation, or a limited liability company ) may affect how the company’s earnings will be taxed and how your assets are protected.

A Guide To Starting A Business In Los Angeles


In the serviced apartment and corporate housing space, take a look at companies like Blueground. The options are a sole proprietorship, a general partnership, a limited partnership, a limited liability company (LLC) and corporations (S, C and professional corporations).

Corporation or LLC? Business Organizations for Tech Startups.


One of the first actions you will take with your startup is to organize your company a separate legal entity to protect yourself from personal liability for the company’s debts. Stocks are issued at the time the company is formed, and more can be issued over time.

LLC 209

How To Start Your Own Small Business In 7 Easy Steps


A lot of small startups fail in the first year, and it can be very difficult for new businesses to develop their identity and to stand out from other more developed companies.

3 Things Every Entrepreneur Must Do Before Starting An LLC


ups and downs of owning and operating a business. There are plenty of things you can and should do before starting your Limited Liability Company (LLC), but here are three big recommendations to keep in mind. by Dustin Ray of Incfile.

LLC 176

Debt Or Equity To Fund Your Start-up: Which Is Better?


Debt financing is the better choice when you prefer to retain control of your operation, and you do not mind the tradeoff of greater risk for higher earning potential. If you set up as a limited liability company, the business suffers the credit damage, but your future earnings are stifled.

Equity 196

How To Maximize A Real Estate Investment


Not only that, but a tenant will also be financially responsible for the property’s operations, repairs, maintenances, taxes and improvements. The best way to protect your assets is with a holding real estate investment, such as a limited liability company or limited partnership.

5 Keys To Mitigating New Venture Tax And Legal Issues

Startup Professionals Musings

A frequent concern I hear from aspiring entrepreneurs is “I have invented a great product, but I have no idea where to start in setting up a company, to avoid all the tax and legal problems I hear about on the news.” The primary business entity options include a sole proprietorship, Limited Liability Company (LLC), or a Corporation (B-Corp, C-Corp, or S-Corp). Many entrepreneurs follow old shoebox habits in managing expenses until the company launches.

LLC 148

How to Convert Your Business to an LLC

The Startup Magazine

This would lead them into choosing ownership between a sole proprietorship status and a limited liabilities company or LLC status. In most cases you will be asked to register for new licenses in order to continue operating. Draft an operating agreement.

LLC 124

The First 5 Steps To Starting Your Own Business


Lay out all of the fine details, including your branding, the company’s identity and ethos, merchandising, employee structure, financials, etc. Forming, owning, and operating a small business is unfortunately expensive. by Dustin Ray of Incfile.

Ideas And Tips On How To Start A Home Business


Find out what legal approvals your business needs, and then acquire the necessary licenses needed for your business to operate smoothly. The options are sole proprietorship, partnership, corporation or Limited Liability Company.

[UK] Should Limited Company Contractors Consider Accountancy Help?


If you are or plan to become a contractor in the near future, it is likely you will have explored the possibility of launching your own limited company. If so, you will be outside IR35 and free to operate as a limited company contractor.

Tips For Getting Your Small Business Off To A Great Start


You’ll also need to make sure you have officially registered your business with the appropriate entities in your area of operation. Remember when composing your business plan , it is pertinent to include a mission statement, company summary, and an executive summary.

 7 Steps To Starting A Construction Company


Starting a construction company has some great benefits. With this in mind, here are the 7 steps to starting a construction company. A business plan is an essential tool for any entrepreneur looking to start their own company. Starting a construction company is not cheap.

What is an L3C?

Up and Running

In recent years, socially-minded entrepreneurs have begun testing a new type of business entity: the L3C, or Low Profit Limited Liability Corporation. The United Kingdom began using a similar structure in 2005, called a Community Interest Company.

If I register a sole proprietorship or a partnership, how will I pay myself?

Up and Running

If you’re already in operation, you’re just going to have to learn the rules for the appropriate business structure. Sole proprietorships and partnerships are both more straightforward than Limited Liability Companies (LLC) and Corporations.

Even Social Entrepreneurs Need Profit to Meet Goals

Startup Professionals Musings

Thus I’ve never understood why so many of these assume they can operate as non-profits. For comparison, I was able to set up a simple for-profit Limited Liability Company (LLC) in a month for less than $100.

Business Prenup: What To Do Before You Start A Company With A Partner


For example, an attorney can assist with issues concerning corporate formation (such as the pros and cons of corporations, limited liability companies and other structures) that may impact liability. Protect your company’s customers, employees and intellectual property.

With New 21 Percent Corporate Tax Rate, S-Corps Are Taking A Second Look At C-Corp Status


In fact, in crunching the numbers, our research reveals that commercial enterprises, such as manufacturers, distributors, and service companies, may actually end up with a larger tax liability after switching to C-Corp status. The operative word here, though, is qualified.

What should I include in an investor provisions summary?


Here are some thoughts that immediately come to mind: 1) The only types of US companies that have “Operating Agreements” are Limited Liability Companies (LLCs), and this structure is very difficult to use for (a) raising money, (b) issuing options, and (c) governance once things begin to get complicated. Invested Interests angel investor attorney companies entrepreneur investors provision summary startup

NDA 104

How to Separate Your Small Business and Personal Finances

Up and Running

This will allow you to create a separate credit file under your business’s name and limit the liability of the business owner. An EIN, also known as a federal tax ID number, operates somewhat like a Social Security number, but for your business as opposed to your person. .

Starting Your Business The Right Way


There are also financial benefits like access to business loans, business bank accounts, and tax incentives, as well as legal benefits like limiting your personal liability. Another option for someone looking to control their own business is establishing a Limited Liability Company.

Colorado Small Business Legal Checklist

The Startup Magazine

These can include: LLC (Limited Liability Company): An LLC is a legal entity for sole proprietors that gives a business entity a tax identification number and the ability to open a business bank account separately from a personal bank account. Operate with a Legal Name.

Financial Knowledge Can Lead To Small Business Success


Include liabilities, current and fixed assets, and shareholders’ equity. Include all that is applicable, including sales revenues, taxes, cost of sold goods, any losses, operating expenses and depreciation of property. by Debbie McGrew, Debt.org.

Incorporating Your Small Business: Protect Yourself And Prosper


Selecting the right type of company for a new or existing business is a critical issue. The decision helps maximize the chances of financial and operational success. One primary goal of incorporation is to lower this tax liability. When to Form Your Company.

What is a Social Enterprise?

Up and Running

Nonprofits are certainly social enterprises, but many for-profit companies fall into this category by making the conscious decision to have their focus be an altruistic cause, rather than the maximization of profits. For-Profit Entities: L3Cs, or Low-Profit Limited Liability Company.

7 Steps To Starting Your Business In Singapore 


Singapore offers a bunch of legal entity forms available for registration: sole proprietorship, partnership, Limited Liability Company, a subsidiary, a branch office, a representative office, and so on. By Roman Yarovyi, PR and Communication Manager for One Visa Ltd.

How to Start an Ebay Business

Up and Running

Operating an online store, especially one that’s so easy to set up, does not mean you are exempt from all of the legal requirements a “normal” business has to meet. The risk associated with a sole proprietorship is that all business liabilities are linked to you personally.

The Complete Guide to Choosing Your Business Structure

Up and Running

You may have more difficulty raising money: As you cannot sell any stock in your company, you will not be able to increase your company’s worth that way. Both entrepreneurs share ownership, and have shared input and participation in the company.

LLC 166

Overview of the Types of Non-Profits

Business Plan Blog

The main reason that a non-profit chooses to incorporate is to protect the management from personal liability from lawsuits or debt. Another option for your non-profit is to form a limited liability company (LLC).

The Complete Guide to Registering Your Business Name

Up and Running

The options for registering your business name include: Registering your business structure, and simply operating under that name. When registering an LLC, for example, your business name must include a term such as “L.L.C.,” “limited company,” or similar in the title.

Naming 152

10 Tips on Finding Legit Remote Jobs


Even companies that were reluctant to adopt remote work strategy prior to coronavirus outbreak, had no other option but to shift to work from home arrangements. Going forward, it is expected that the number of all-remote companies will grow exponentially as many businesses and employees have realized the benefits of remote work. Many companies provide co-working office subscriptions and co-living arrangements as part of the package.

NDA 70

Social Enterprise: Choice of Legal Entity

Business Plan Blog

As of yet, a social enterprise is not its own legal structure, and a social enterprise company must consider its legal structure options and select the one most congruent with the company’s plan.

8 Steps to Starting Your Own Business

Up and Running

How will these affect day-to-day operations? Limited Liability Company (LLC). Company Overview. In contrast to the standard plan and the startup plan, is the operations or annual plan.

SBA 171