Business Start-Up
We can assist you with the following types of applications/documents to start your Business:
**Tax/EIN/TIN
**LLC/Corporation Paperwork
**Assumed Business Names/DBA
** Business Licenses
** Operating as a Foreign Entity
** W4/W9/I9
Below are a list of definitions pertaining to the above mentioned business matters that we are able to assist with. Most definitions can be found in Black's Law Dictionary. Please understand we are not attorneys therefore we cannot provide you with legal advice and nothing written below can be construed as legal advice.
EIN/TIN - Employment Identification number, also known as a Federal Tax Identification number.
LLC - Limited Liability Company: A company statutorily authorized in certain states that are characterized by limited liability, management by members or managers, and limitations on ownership transfer.
Corporation/Incorporated - an entity (usually a business) having authority under law to act as a single person distinct from the shareholders who own it and having rights to issue stock and exist indefinitely; a group or succession of person established in accordance with legal rules into a legal or juristic person that has legal personality distinct from the natural persons who make it up, exists indefinitely apart from them, and has the legal powers that is constitution gives it.
a. C Corporation - a corporation whose income is taxed through its shareholders (any corporation not electing S-Corporation tax status under the Internal Revenue Code is a C Corporation by default
b. S Corporation - a corporation whose income is taxed through its shareholders rather than the corporation itself. Only corporations with a limited number of shareholders can elect S-Corporation tax status under Subchapter S of the Internal Revenue Code.
Assumed Name/DBA - The name under which a business operates or by which is commonly known.
Business License - Allows individuals/companies to conduct business within the government's geographical jurisdiction/area. It is the authorization to start business by the local government.
Foreign Entity - Allows a business to operate out of a different state other than the state it was incorporated in or has their LLC (i.e. company is a NV LLC but operates out of Illinois would be considered a Foreign Entity).
W4 - IRS tax form used by employers to determine how much tax to withdraw from an employee’s wages. This form is usually filled out by employee. This is for an employee who will receive a W2 at the end of the year.
W9 - IRS tax form used by third parties to collect identifying information to help file information returns with the IRS. This is typically used for independent contractor who will receive a 1099 at the end of the year.
I9 - Employment Eligibility Form, it is used by employers to verify an employee’s identify and establish that the employee is eligible to accept employment in the United States.
If what you are looking for assistance with is not on here please let us know and we will see if we can still assist you.
