2014
Lynda
Martha Garzon
1:33
English
Sole proprietorship, general partnership, corporation, or LLC? Choosing a business structure is one of the tougher decisions web designers face when establishing a new company. In this course, entrepreneur Martha Garzon walks you through the advantages and disadvantages of each business model, and helps you decide which one is right for you. You'll also take a deep dive into two key business structures–sole proprietorship and LLC—to see how they affect licensing and permitting processes, taxes, and recordkeeping for a hypothetical web design business. This practical information will help you clear early legal and financial hurdles, and help make sure your business hits the ground running.
Introduction
Welcome
Disclaimer
1. Overview of Business Structures
Understanding your business-structure options
Sole proprietorship: Advantages and disadvantages
Partnerships: Advantages and disadvantages
C corporation: Advantages and disadvantages
S corporation: Advantages and disadvantages
LLC: Advantages and disadvantages
Choosing your business structure using five key questions
2. Sample Businesses
Introducing Amy's web design business
Amy's web design business as a sole proprietorship
Amy's web design business as an LLC
3. Forming a Sole Proprietorship
Getting started with business names and fictitious business names
Obtaining local licenses and permits
Applying for a city business tax receipt
Applying for a county business tax receipt
Opening a business bank account
Understanding state tax obligations
Understanding federal tax obligations
4. Forming a Limited Liability Company (LLC)
Getting started with a name for your LLC
Filing the Articles of Organization
Creating an operating agreement
Obtaining local licenses or permits
Applying for a city business tax receipt
Applying for a county business tax receipt
Understanding tax election for LLCs
Applying for an Employer Identification Number (EIN)
Opening a business bank account
Understanding state tax obligations
Understanding federal tax obligations
Conclusion
Next steps: Finding professional support
Download File Size:592.74 MB
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