Unlocking Your Business Potential
What is the best business structure for a food truck? If you plan to run a food truck on your own and exercise complete control, then a sole proprietorship may be your best entity formation bet. The con to forming a sole proprietorship is that there is no liability protection. Read more on fundbox.com In … Read more
How do I make one LLC own another LLC? If you set up multiple LLCs, you will have to file LLC forms and pay a fee for each one. Each LLC will need to keep its own records and maintain its own bank account, payroll and tax documents. Setting up a parent-subsidiary structure will not … Read more
Can a sole proprietor have 2 DBAs? Multiple DBAs. When it comes to a sole proprietorship, it is required to only need one DBA. Being able to apply for multiple DBAs under a sole proprietorship depends on how many your local/state government will allow. Each filing of a DBA costs money, so registering multiple DBAs … Read more
Should I add my spouse to my LLC? The straightforward answer is no: You are not required to name your spouse anywhere in the LLC documents, especially if they aren’t directly involved in the business. However, there are some occasions where it may be helpful or necessary to include your spouse. Read more on smallbusiness.chron.com … Read more
There is very little paperwork and no corporate filing requirements. Many eBay sellers begin as sole proprietors. However, as their business expands, they form a corporation or limited liability company (LLC) to protect their personal assets. Read more on www.findlaw.com Although it is a publicly traded company, eBay is not an LLC. The Securities and … Read more
Why is a sole proprietorship best? Sole proprietorship is usually preferred because it is simpler, requiring no legal filings to start the business. It is especially suitable if you’re planning on starting a one-person business and you don’t expect the business to grow beyond yourself. Read more on smallbusiness.chron.com The choice of business structure should … Read more
Can an S corp invest in another business? An S corporation may own an interest in another business entity. An S corporation can be a member of an affiliated group by owning 80 percent or more of the stock of a C corporation. An S corporation can also be a partner in a partnership or … Read more
Is it better to be sole trader or LTD? There could indeed some tax savings to be made by making the switch from sole trader to limited company. While sole traders pay Income Tax on profits and classes 2 and 4 National Insurance, limited companies pay Corporation Tax on profits, which is a lower rate … Read more
How do I change from a sole proprietor to an S corporation? A sole proprietorship can’t be changed to an S corp directly. Instead, the owner must first form either an LLC or a C corp and then elect S corp status with the Internal Revenue Service (IRS). Read more on howtostartanllc.com You might want … Read more
What are the three key considerations for deciding the structure of a business? With launching a new company comes the need to make many decisions. As you decide on a legal structure, keep these three important considerations in mind: Complexity Vs. Liability Protection: Finding The Right Mix. Tax Treatment That Will Treat You Right. Room … Read more