Know them Procedures to open a business It is essential when you are thinking of creating a business, because whether it is small or medium you should always plan a legal activity.
In fact, planning is important, because you should think about it before starting your business, since you should not only take care of the promotion of your business, the construction of your website, which by the way is important, but also all the legal issues for manage your company.
Step by step how to do the Procedures to open a business
The first of the Procedures to open a business is the management of legal name of your business, because you will surely promote it and for this you must know if the name you chose is available and based on this you will be able to print the business cards.
The search for the name enabled for your business can be done online without hiring a lawyer for it, since the names of the companies with their enabled name are registered with the Secretary of State.
At the next level you will find the brands available in the 50 states of the United States, therefore you can establish your business in any state with the assurance that you are not breaking the law.
But you can also search the state databases of the United States Patent and Trademark Office online. To do this, you must search the local and state databases.
Register the name: Once you have done the search and verified that the name you chose for your business is available, it will be the Doing Business Ads or DBA which is necessary if that name is different from your own name.
Well, if you establish a corporation, a partnership or a sole proprietorship whose chosen name is fictitious, you need to obtain a DBA.
The business structure: Regarding the business structure to establish a corporation or LLC (Limited liability company) is important to you because you keep your personal assets protected against any legal conflict that arises in the company.
Well, form a LLC It is the best for you if you establish a small business and you are not so interested in formality, but you are interested in having legal protection.
By establishing your business as a Corporation, you will have formed a legal entity that will be responsible for your own debts and you will pay the taxes that correspond to you.
All the owners of the Corporation are shareholders and will remain protected from the liability accrued for the shares, therefore the payment of taxes is calculated on the dividends received from personal shares.
You can also apply for the designation of an S corporation and in the same way you will establish a legal entity, but your income will be taxed through the shareholders.
Therefore, if you are a small business owner designated as a C corporation, you will file a tax return and pay it on your income as a separate entity.
Then when the profits are divided among the shareholders, each one pays the income tax.
EIN: EIN is the federal tax identification number, also known as the employer identification number that you need to obtain to establish your business as another of the Procedures to open a business. It is essential for the opening of your business because the IRS from that number, can verify all the transactions that your company carries out.
Although having formed a company as sole proprietor you do not need to obtain the EIN, it is still convenient that you obtain it because when dealing with a commercial matter you will not need to present your social security number instead of the EIN that does not you got.
Unemployment insurance: When you start your business, as soon as you hire your first employee, you must have already managed the unemployment insurance.
In addition, it is convenient that you contact a lawyer who understands employment laws, because he can explain everything you need to know to carry out a legal activity, knowing everything that has to do with state and federal procedures, the withholding taxes, the anti-discrimination law, the self-employment tax and of course the unemployment insurance.
Business licenses and permits: Your business needs a local, federal or state permit or license according to its location.
These licenses are: the sales, land use, zoning and general business operation tax, as they are as necessary as the professional license and permits that correspond to the health department.
Business credit: To finance your business you can use a personal credit or your credit cards, but the best thing is that you obtain a business credit by opening an account in a bank in the name of your company, because in this way your personal assets will be separated from those of your business.
You can go to the Small Business Administration or SBA to find out the variables on loans according to the purpose of your business. Study all the programs that they will describe to you to see if you qualify for them.
Well, you can opt for a general loan for small businesses through which you receive financial aid as long as you meet certain requirements or you can access a microcredit program that the SBA grants in the short term.