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Exploring Tax Strategies For Small Businesses: Insights Inspired By Troy Renkemeyer’s Experiences

The Startup Magazine

Limited Liability Companies (LLCs) offer flexibility, allowing owners to choose between being taxed as a sole proprietor, partnership, or corporation, each with unique implications. Maintaining diligent records is paramount to ensuring these deductions are accurately captured and substantiated in the event of an audit.

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Corporation or LLC? Business Organizations for Tech Startups.

YoungUpstarts

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. In the tech startup context, you’ll typically choose between a Corporation and a Limited Liability Company (“LLC”).

LLC 100
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13 Critical Small Business Legal Requirements to Start a Business

Up and Running

Limited liability company (LLC) – A structure that combines the characteristics of both corporations and partnerships. It protects owners from their debts or liabilities, and each owner has to include a share of the profits/losses in their personal tax returns. Write a company handbook.

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What is a Social Enterprise?

Up and Running

According to the Harvard Business Review, in most U.S. states for-profit companies can accept donations and nonprofit companies earn revenue, which dispels the myths that a nonprofit can’t make money, or a for-profit venture would miss out on donations. For-Profit Entities: L3Cs, or Low-Profit Limited Liability Company.

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Five signs it’s time to get your business organized

www.greenhornconnect.com

Forming a corporation or limited liability company not only protects founders by limiting personal liability for activities related to the business, it also defines the rights of founders relative to each other and to the business, which is important in case there is ever a falling-out among the founders.

IP 40
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How to Start a Business: A Step-by-Step Complete Guide (2019)

crowdSPRING Blog

Partnership – A partnership is a shared responsibility between two or more people who both hold personal liability for a business. basic infrastructural costs like phone and internet service, invoicing software, etc…. A sole proprietorship means that one person is solely responsible for a business’ profits and debts.

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10 Tips on Finding Legit Remote Jobs

Transformify

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. Even before coronavirus pandemic, investors were already asking tech startup founders ‘’What is your remote work strategy?’’