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

YoungUpstarts

Here are a few tips to ensure that you and your partners start out on the right foot. 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.

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

The Startup Magazine

Partnerships share income and losses among partners, affecting individual tax brackets. Hiring a tax professional becomes imperative when your business’s tax situation is complex, involves multiple states, or involves strategic tax planning to maximize savings and compliance.

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5 Tips for Starting a Successful Clothing Brand: The Definitive Guide (2018)

crowdSPRING Blog

If you’re interested in a little more protection, an LLC (or Limited Liability Company ) may be a better fit. The LLC business structure provides the limited liability features you would find in a corporation. Anna Livermore, founder of fashion business consulting company V. Spread the Word.

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

Up and Running

Are you going to be hiring employees? Many small business startups will choose between a sole-proprietorship, a partnership and a limited liability company. However, you can also start a corporation or a non-profit company. Day 17: Work out whether or not you need to hire employees. You have to keep going.

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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.