Starting a New Business?
There are several things you should consider before you start your business. Then you should meet with a CPA and an Attorney to work out the details and consequences related to your new ventures. There are 5 general types of business ownership: Sole Proprietorship Partnership Limited Liability Company Corporation S Corporation Determining which will be best for you is very important based on the type of business you are in, what you will be selling, where you will be doing business, and how you plan to undertake your business financing. Employees You will also need to consider if or how many employees you plan to have, how soon you plan to hire them, whether they will be full time or part time employees, or if you will have independent contractors. There are very specific requirements related to each class of employee and how you must interact with independent contractors. We can assist you in understanding all of these requirements before you begin business. That will keep you out of trouble and focused on growing your business and not on solving employment department problems.