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Business Essentials
Get everything you need to launch your business with confidence.
Whether you are starting a side gig or starting a whole business, you'll find essential checklists, guides, and tax information right here. Choose a section below to get started.
Sole Proprietorship:
Someone who owns an unincorporated business by themselves. Can have employees but not owners can't pay themselves because business and owner are considered one entity.
Non-Profits:
Non-profit organizations operate for social or charitable purposes, not for profit. They rely on donations and grants and are tax-exempt. Legal requirements and regulations vary by jurisdiction.
LLC:
SINGLE MEMBER LLC
A business where the members of the company cannot be held liable for company's debts or liabilities.
Can have employees, but IRS considers the business and the owner to be one entity.
S-CORP
A pass-through entity, limited to 100 U.S. citizen Shareholders, can have employees and pay owners.
C-CORP
Necessary when shareholders are from other countries & desire to become public. However, there is a risk of double taxation.
Partnerships:
A business that has more than two owners withan interest in the industry.
Important Deadlines
June 30 - End of the 2nd Quarter
July 15 - Sales Tax/Payroll Tax Due
August 15 - Sales Tax/Payroll Tax Due
August - 2290
September 15 - Sales Tax/Payroll Tax Due
September 30 - End of the 3rd Quarter
October 15 - Sales Tax/Payroll Tax Due
November 15 - Sales Tax/Payroll Tax Due
December 15 - Sales Tax/Payroll Tax Due
December 31 - End of the 4th Quarter
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