When you start a business, you are responsible for choosing a business structure. One structure you can select is a limited liability company, or LLC.
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Startup - Tips, Training, and News
One Isn’t Always the Loneliest Number. What Is a Disregarded Entity?
There are plenty of things to do before you open your new business. One of the most important tasks is choosing a small business structure. If your business is a single-member limited liability company (LLC), you may have heard the term disregarded entity. If you haven’t, don’t worry! A disregarded entity isn’t bad news. So, […]
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What Is a Nonprofit? Definition, Types, & More
Have you ever donated to a charity? What about a hospital or school? If so, you may have given to a nonprofit. But, what is a nonprofit? And, how do they work? Get the answers to all of your burning questions below.
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How to Start a Family-owned Business: Keeping It in the Family:
It wouldn’t be an understatement to say that family-owned business is synonymous with American business. Eighty-seven percent of American businesses are family owned. You read that right: 87%. That means that family-owned businesses employ a huge portion of the U.S. workforce—62% to be exact. And to top things off, family-owned businesses make up 64% of […]
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Limited Liability: A Shield for Your Business
Running a business is always a risk. The risk of a lawsuit or bankruptcy can scare many would-be business owners before they even get started. These risks don’t have to affect you personally, but they may depending on how you structure your business. Limited liability protects an individual’s assets in the case of a lawsuit […]
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For Richer and Poorer: How to Start a Business With Your Spouse
Americans love talking about their favorite mom-and-pop shops. When we use the term mom-and-pop, we’re talking about a spouse-owned business. A spouse-owned business gives new meaning to “for richer and poorer” (and “till death do us part!”). According to Harvard Business Review, three million businesses in the U.S. are spouse-owned. This type of business also […]
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Sole Proprietorship vs. LLC: What’s Best for Your Business?
You’ve finally come up with the perfect business. Now, it’s time to structure it. And if you’re torn between sole proprietorship vs. LLC (limited liability company) you might be wondering what business entity best fits your needs.
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It’s Time to Change Sole Proprietorship to LLC. Here’s How to Do It
Did you structure your business as a sole proprietorship? Do you want to move beyond your sole proprietorship status? If your business structure just isn’t cutting it, one of your options is to change sole proprietorship to LLC.
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Business vs. Hobby: Which Is It?
You’ve decided to start a business. Er … is it a hobby? How do you know if you’re making a little side money from a hobby or running a full-fledged business? Does it matter? Well, the IRS cares about whether you have a business vs. hobby—so you should, too.
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How Much Does it Cost to Start a Business? Putting Together Your Estimate
The average cost to start a business is less than $10,000. But, every business is different. So if you have a million-dollar business idea, you probably want to know what it’s going to cost you. How much does it cost to start a business, exactly?
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