Owning a business is both exciting and intimidating.
With SCORE, you have lots of support. Browse these tools and find resources to help you make decisions on starting or growing your enterprise. Your SCORE mentor can assist in putting your ideas into action.
There are three principal considerations when choosing a business structure: (1) liability, (2) management, and (3) taxes.
“How should I legally structure my new business? As a corporation? As a limited liability company (LLC)? As a limited partnership?”
SCORE is proud to partner with Rocket Lawyer to provide information and resources to help you with small business legal matters. Read more
However, the type of corporate structure - that is, which form of corporate entity to utilize - is one of the single most important planning decisions a business can make, and it is consistently one of the areas where I see the most misinformation given and mistakes made.
Time is definitely a luxury for small business owners. However, no matter the time constraints, it's important to devote appropriate time to payroll.
If you’re not careful, you could be making some common mistakes that not only increase your chances of an IRS audit, but also harm your business in the long term, a Xero survey of accountants reveals.
One of the most common business structures used to start a business is the sole proprietorship. Read more