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How Entrepreneurs Need To Plan To Protect Their Business

The Startup Magazine

The legal structure will dictate how your business is taxed, how personal liability is handled, and how you can raise capital. Common business structures include sole proprietorships, partnerships, limited liability companies (LLCs), and corporations. Each has its own advantages and disadvantages.

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Tips For Starting Up Your Own Roofing Company

The Startup Magazine

The most common types of business structures include sole proprietorships, partnerships, limited liability companies (LLCs), and corporations. Sole proprietorships are easy to set up and offer full control, but they also come with unlimited personal liability.

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

YoungUpstarts

Hire professionals. 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. Think about your employee and ownership hats. Must you wear both simultaneously?

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The First 5 Steps To Starting Your Own Business

YoungUpstarts

You’re not going to know everything — that’s what you’ll hire the experts for. Lay out all of the fine details, including your branding, the company’s identity and ethos, merchandising, employee structure, financials, etc. If you are not financially savvy, then the best thing you can do is hire someone who is.

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How to Start a Business in a Month – #30DayChallenge

Up and Running

According to the SBA, 52% of all small businesses are home-based and of the 28 million small businesses in the US, 22 million of those are operated by people who consider themselves self-employed (they have no employees and no additional payroll). Are you going to be hiring employees? You get tax benefits. Just keep going.

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How Much Does it Cost to Form an LLC? A Guide For Startups

The Startup Magazine

If you are looking to set up a limited liability company using the least expensive method, you can take this route. Hiring a lawyer for LLC formation might be a better option in this case. Employee Identification Number (EIN) is a 9-digit number that is assigned to your LLC by the IRS (Internal Revenue Service).

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Business Law Basics for Entrepreneurs & Small Business Owners

The Startup Magazine

Common structures include sole proprietorship, partnership, corporation, limited liability company (LLC), and S corporation. Consult an attorney to determine the best structure based on business goals, number of owners, and liability risks. Maintain detailed records to calculate tax liabilities.