Starting a Business
Starting your own business is a journey that requires a lot of hard work, and dedication. But the rewards of entrepreneurship are well worth the obstacles you’ll face on the road to success. If you think you’re ready to start your first business, there are a few things you’ll need to consider before you can make it happen.
- What state are you going to incorporate in? Why?
- What state are you going to work in? What state do you reside in for tax planning?
- What type of entity do you want?
- Do you have partners? Who are they?
- Are you going to have employees?
- FT or PT
- Are you going to provide employee benefits?
- Subcontractors? If so, are they going to remain Independent Contractors?
- Do you need written contracts? Do you want one?
- Handshake contracts, are they viable?
It may seem over whelming at first glance. You may not have all of the answers and thats ok. We can sit down and talk about exactly what type of business you are establishing and what would work best for your specific needs based on your goals. We can go through the steps it will take to get you there and what you have already accomplished. Anderson Law is a resource for those starting a business who want to insure they go about it not only the proper way but in a way they will be successful.
I. Have a business plan.
II. Decide whether to incorporate or remain a sole proprietor.
III. Know which licenses and permits you will need.
IV. Know the rules and regulations of state and federal agencies you need to comply with.
V. Know how to buy insurance.
VI. Have a system for accounts receivable and accounts payable.
VII. Know how to prepare and file tax returns.
VIII. Know how to prepare and file monthly wage earning reports for employees.
IX. Know how to market your business.
X. Know how to grow your business.