How to Make Sense of AB5 (And Possibly Get Around It)
Wednesday, September 16th, 2020NOTE: This article is not considered legal advice, just our interpretation. As always, we recommend you contact an attorney if you are unclear on any new law. California Assembly Bill 5 (AB5), also known as the “Gig Worker” bill, was passed in 2019 under the guise it would promote labor unions and provide benefits to … Continue reading “How to Make Sense of AB5 (And Possibly Get Around It)”
Read MoreWhat to Do After Incorporating or Forming an LLC
Thursday, July 9th, 2020After you create a legal entity by either incorporating (C or S corporations) or forming an LLC, it’s important to know what to do next. Some states have extra requirements after you’ve completed all of the paperwork for your legal entity to become activated, and depending on the type of legal entity you chose you’ll … Continue reading “What to Do After Incorporating or Forming an LLC”
Read MoreWhat is an Operating Agreement & When You Need One
Thursday, May 21st, 2020An operating agreement is used by limited liability companies (LLC) to establish the operations of the business. An operating agreement for an LLC is very similar to by-laws that are used by legal corporations. Within the operating agreement is typically the terms agreed to by members of the LLC, including both day-to-day operating procedures as … Continue reading “What is an Operating Agreement & When You Need One”
Read MoreHow to Sell on Amazon as a Non-US Citizen
Wednesday, February 5th, 2020You don’t need to be a United States citizen to sell on Amazon, but once you sell 50 or more items on the marketplace, you’ll need to have a proper tax id. However, if you’re selling through Amazon’s FBA (Fulfillment By Amazon) program then you’ll need to form a company in the United States before … Continue reading “How to Sell on Amazon as a Non-US Citizen”
Read MoreHow to Open a Business Bank Account
Thursday, August 15th, 2019Opening a business bank account is a simple four step process that can typically be completed in less than an hour, if you have prepared beforehand. You can open a business bank account either online or in-person, but doing so online will typically take longer and could require additional documentation. Before you open a business … Continue reading “How to Open a Business Bank Account”
Read MoreWhy Using Multiple Business Entities May Help Your Business
Thursday, July 11th, 2019One of the most popular ways to protect businesses from potential legal liability is to use multiple business incorporations. This typically entails a business putting assets in different LLC’s or corporations. The biggest benefit to business owners is that if you have a big mess up, or financial loss, in one part of your business … Continue reading “Why Using Multiple Business Entities May Help Your Business”
Read MoreHow to Transfer Property to Your LLC or Corporation
Thursday, June 20th, 2019Transferring real property, or other assets, into an LLC or corporation can help you protect yourself from personal liability. This is typically done with property you anticipate having another party involved with in some way, such as a rental property. Transferring property can help protect you from personal legal liability. The process for transferring property … Continue reading “How to Transfer Property to Your LLC or Corporation”
Read MoreFunding Your Company: Top 9 Ways to Finance Your LLC or Corporation
Friday, June 7th, 2019Funding your company can be difficult as a new LLC or corporation because you don’t have a financial history for potential lenders to make a lending decision from. Instead, you’ve got to find creative ways to fund your company in order to get the capital you may need to either launch or grow your business. … Continue reading “Funding Your Company: Top 9 Ways to Finance Your LLC or Corporation”
Read MoreHow to Close Your Business: Corporation, LLC or Sole Proprietorship (with Checklist)
Wednesday, July 18th, 2018One of the most daunting aspects of doing business as an entrepreneur is coming to the realization that your business is failing and needing to decide whether to salvage or close it for good. Business owners must often review their operations to determine how sustainable the business is. When the business is no longer profitable … Continue reading “How to Close Your Business: Corporation, LLC or Sole Proprietorship (with Checklist)”
Read MoreWhich is right for you? An LLC or an S-Corp, or maybe neither? [maybe both]
Friday, April 27th, 2018![Which is right for you? An LLC or an S-Corp, or maybe neither? [maybe both] 2](https://www.mycompanyworks.com/wp-content/uploads/2018/04/LLC-vs-S-corp-2.jpg "Which is right for you? An LLC or an S-Corp, or maybe neither? [maybe both] 2")
LLC vs. S-Corp (hint: you may want both) Which is right for you? An LLC or an S-Corp, or maybe neither? (Hint: the answer could be both) This article covers the benefits and drawbacks of each entity, as well as the benefits and drawbacks of doing business as a sole proprietor or regular corporation, also … Continue reading “Which is right for you? An LLC or an S-Corp, or maybe neither? [maybe both]”
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