You want to start up your business, but you’re not sure how to begin? If this is you, then all you need is LegalZoom!
LegalZoom is a business designed to help ambitious men and women, such as yourself, who are planning to start their own business. They can assist you with things like determining what type of business you need, finding your business’ name, working through taxes, licenses, permits, and so much more!
LegalZoom offers excellent business services and caters to a wide variety of demands. Whatever you need from a business perspective, LegalZoom has you covered!
Read on to learn more about the many different things that LegalZoom has to offer you!
Sole Proprietorships Services
If a sole proprietorship is your goal, this means you plan to build a business all on your own. However, that does not mean you have to do absolutely everything by yourself. Let’s look through some of the main points you should be aware of before getting started!
1. The responsibilities of a sole proprietorship
The first responsibility you gain as a sole proprietor is liability. Anything and everything that happens with your business fall on your shoulders. You are responsible for any debts, sues, savings, personal assets, and so on. Should anything go wrong with the business, you must correct it. On the other hand, if the business goes well, you get full benefits from it!
You are also responsible for your taxes. You must report all business profits as personal income and pay self-employment taxes from those. Doing so will cover your social security and medical care.
Lastly, you are responsible for raising capital. It is more difficult to raise capital in a sole proprietorship as you have no business partners or interested members to work from. You will have to attract investors from your own merits.
2. Preparations that must be made before starting the business
First, you need to consider your business name. As a sole proprietor, your business will legally be named after you by default. If you wish to have a different name, you will need to file for a DBA. (Doing Business As)
You may also need business licenses. The licenses required of you will depend on where you live. You can find out which business licenses you require here.
Another possible point of preparation is to limit your liability. This will be most important if your funding is mostly debt. To do this, you can operate as a limited liability company.
Lastly, you need to determine how and when to pay your taxes. It is possible to do this on your own, but LegalZoom makes it much easier with its Business Advisory Plan.
3. Steps to order LegalZoom’s Sole Proprietor Business services
Ordering LegalZoom services is much easier than you think. All you have to do is create an account then select the service you wish to use:
You will then be redirected to the page where you can submit your order. Fill in whatever question is asked and await the best help you could have ever asked for!
Here are some recent reviews for this service:
A corporation requires more effort and teamwork than a sole proprietorship but has a number of advantages over them. Corporations are time-tested, better recognized, investment-friendly, and a better choice for stock and publicity.
Before we go any further, let’s discuss the different forms of corporations:
1. Differences between C corporations and S corporations
C corporations and S corporations have differences in three key areas:
The first area of difference is taxation. C corporations are taxed twice; once to the business and once to the shareholder. An S corporation, on the other hand, is taxed only once to the shareholder.
Another difference is in the ownership. A C corporation’s ownership has no limitations on its shareholders or foreign investors. An S corporation’s ownership has a limit of 100 shareholders who must all be either U.S. citizens or permanent residents.
The final area of difference is shareholder rights. The shareholder rights of a C corporation are for any stock they prefer. They have rights to whatever stock they please, regardless of what another shareholder can acquire. The shareholder rights for an S corporation are limited to common stock and all shareholders are considered equals with a single vote.
2. How to order LegalZoom’s Business Corporation services
Check the business corporation page and select your state:
Once you’ve done this, you will be asked for your email and phone number. These are optional requests but giving them makes further action easier.
After that, simply select ‘get my corporation’ and answer the additional questions to customize your order. It is as simple as that!
Here are some recent reviews for this service:
Are You Ready to Build an Amazing Business?
As you can see, LegalZoom is incredibly useful and quite successful. Not only is it an easy website to navigate, but they also have more than 350,000 corporations, not to mention other businesses, actively successful today.
Will your business be the next success of LegalZoom? Go check them out and get started today!