Comparison of Business Entities

A business entity (sometimes referred to as the business structure or legal structure) is the basic foundation of starting a business.  The business entity is basically how a business is legally organized to do business. There are four primary business entities to choose from, which include the sole proprietorship, partnership, corporation, and LLC.  Each type […]

Setting up Bookkeeping for Your First Business

You had a great idea for a business, decided on a business structure, got a business license, and maybe you’ve even made a few sales. Congratulations! Now you’re probably thinking about what you’ve successfully managed to avoid thus far: bookkeeping. It might be very low on your growing list of what you want to learn […]

What Licenses do Pest Control Businesses Need?

The pest control industry has been booming in recent years. While it may not sound like a glamorous field to all, there is a serious need for pest control companies for both residential and commercial clients alike.  Pest control work can be rewarding, too. Finding and disposing of insect or vertebrate pests may not be […]

Do I Have to Charge Sales Tax at a Craft Fair?

If you’re in the business of making crafts, craft fairs are where you shine! You love setting up shop (or, booth) at local craft shows or flea markets to share your creations with the community and make some cash while doing so. As the transactions are rolling in, suddenly you wonder if you should be […]

Do I Need a Business License to Sell Crafts at Craft Fairs

So you have finally made the jump into turning your art hobbies into a business. Congratulations! Entrepreneurship is a very worthwhile and rewarding pursuit when done correctly. Before jumping into the deep end, though, you should know a few legal things to help yourself prepare before selling at craft fairs and flea markets. One of […]

How To Apply For An EIN Without A SSN

Starting a small business is no small task, but trying to do so as a foreign national in the U.S. can make things feel complicated–especially when it comes to figuring out taxes.  Getting an EIN is an important step in your journey as a new small business owner. Your business’ EIN is what connects your […]

What Is Pass-Through Taxation

A pass-through deduction is a tax break given to business owners. This deduction lowers the owner’s tax base. Here we explore this topic in detail. Overview of Pass-Through Taxation Pass-through taxation is when the income taxes of a business are “passed through” to the owners of that business. The business as an entity is not […]

How Long Does It Take To Get An EIN?

When starting a small business, it is important to understand your legal rights and obligations. One of these obligations is applying for and receiving your Employer Identification Number (EIN). Let’s review what an EIN is, why you may need one, and how long it will take to apply.  What Is An EIN? EIN is an […]

Can I Use the Same EIN for Multiple Businesses?

You started a business, and things went really well, and you decided on starting another business, or perhaps you have a couple of business ideas you want to run with from the beginning.  When talking about having multiple individual businesses, one question that often needs to be answered is whether the same Employer Identification Number […]

Do Sole Proprietors Need an Employer Identification Number?

Starting a small business as a sole proprietor is often the simplest and least expensive way to begin a business venture. The title of a sole proprietor is automatically applied to business owners who are the only employee of an unincorporated business. Starting a business brings lots of registrations and questions like whether an Employer […]