This Business News Story Was Uncovered By Us From: http://youtu.be/-rXgZZGZKZc
In this latest video tutorial that we have just a short time ago published, you will Be trained on the key steps of growing your income projections by exactly following the knowledgeable Ideas that this video lesson discusses.
STARTING A SOLE PROPRIETORSHIP
The various different type of business:
• Sole Proprietorship,
• Partnership or LLP,
• Corporation
• C Corporation,
• S Corporation,
• Limited Liability Corporation (LLC).
I go into detail on the pro’s and con’s in my blog post “Which Business Entity To Choose” at christinewilcher.com.
In this blog we will focus on a sole proprietorship business. Please check out future blogs for information on starting other types of business entities
Step 1: Sole Proprietorship
Sole Proprietorship – Usually owned by one person
Pro’s and Con’s when starting a sole proprietorship
+ Pro’s – Con’s
• The easiest business entity to create
• The cheapest business entity to create
• The quickest business entity • No protection for your personal assets.
• Everything is attached to your personal credit
• Greater chance of you being audited
• Takes your business out of consideration for some government and business to business contracting
• Some may view it as less trust worthy
Starting a Sole Proprietorship steps
1. Legally accepted picture ID
2.
County Clerk Office address and office hours
3. Determine the new business name
4. Ask for the Sole Proprietor Doing Business As (DBA) business form
5. Fee (in Texas it is less than $20)
NOTE: You will be provided a sealed stamped document verifying you have a business (keep this for in a safe place)
Step 2: Get your EIN number.
Why do you need an EIN number when stating a sole proprietorship?
• You will need an employer identification number to do business as any entity other than a sole proprietorship (Sole Proprietors can use their social security number)
• The EIN number is how the IRS identifies the business, and is used when filing income tax.
• You will n… Read More
https://blognews.turnkeywebpublishing.com is All about entrepreneurship, Cutting edge techniques to developan internet web based enterprise together with looking more into the hottest industry trends, innovation, and small business Market Research to Uncover what kinds of internet startups that were only just launched, are generating a profit.
