Going Legit - Establishing Your Business as a Legal Entity - S01 Ep 03
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Erica and Connor Discuss how to go about getting your business established as a legal entity with the state and federal government. Then on Sticking Points, Connor sits down with Nick Skog to talk about how he can bring order to the tasks he has to take care of with his photo business and discuss ways of feeling confidence in the value of your work. Some Helpful notes and resources SBA has a huge section of their website dedicated to launching your business. Covers most of what we’re talking about today. https://www.sba.gov/business-guide/launch-your-business/pick-your-business-location Consider the legal ramifications and the taxable ramifications of your business structure. Each structure affects your operations, how you file your taxes, and how much of your personal assets are at risk. IRS classifications are: Sole proprietorships Partnerships Corporations S Corporations Limited Liability Company (LLC) Most photo companies are sole proprietorships or LLCs. how to file with the state. If you’re operating…