In today's competitive landscape, choosing the right legal structure for your business is paramount for success. Keeping your home-based business legal involves choosing its legal structure: sole proprietorship, partnership, or corporation. The structure you opt for impacts your taxes and dictates your liability, governance, and compliance requirements. This is necessary for … [Read more...] about Choosing the Legal Structure of Your Business
Corporation
A Brief Overview of Business Structures — Which is Best for Your Business?
25% of Americans thought about starting a business during the coronavirus pandemic, while 64% of them have taken action, according to LendingTree. However, for those who are still in the very beginning of their business ventures (or who are still only thinking about starting a business), making those initial first-step decisions — such as choosing the right business structure — … [Read more...] about A Brief Overview of Business Structures — Which is Best for Your Business?
4 Reasons Why Incorporating Your Company Is A Good Next Move
Owning a small business that people you know have invested their money in is great. The same goes for entering into a partnership with a friend or colleague to start your own project. However, there are some disadvantages to having an enterprise that is not registered as a corporation, including a great risk of personal liability and bigger tax issues. Incorporating your … [Read more...] about 4 Reasons Why Incorporating Your Company Is A Good Next Move
Types of Business Entities and Its Pros and Cons
Before starting a business, we need to understand how a typical business runs. One of the key concepts to understand is the business entities. It is how your business would be organized and controlled with your desired business structure, from which it will be determined whether you want it to be run by yourself alone, or with the cooperation of several partners. Each … [Read more...] about Types of Business Entities and Its Pros and Cons
Guide to Choosing the Right Registered Agent for your New Company
How to Choose a Registered Agent Choosing your company’s registered agent is a super important step in the business formation process. Just like with other vital decisions—such as choosing an entity type, or the company’s name, or whether the company will be taxed as a pass-through or detached entity—making the wrong choice can harshly damage the business. The benefits of … [Read more...] about Guide to Choosing the Right Registered Agent for your New Company