Month: April 2015

Can you incorporate with just one person? [Video]

April 27, 2015
Planning your business structure is important and making uninformed decisions can lead to problems farther down the line. Many business owners operate under the misconception that companies must have multiple partners, a board of directors or employees to incorporate. The truth is, single-shareholder corporations exist in many states. All you need to do is take care of corporate administrati... Read More

What is a corporate kit and why do I need one? [Video]

April 22, 2015
What is a corporate kit and why does your company need one? A corporate kit is a binder that serves as a record book for your corporation or limited liability company. The corporate kit holds things like the formation paperwork, including the corporate seal, licenses, resolutions and meeting minutes. If your business is a corporation your kit will also include standardized bylaws and share c... Read More

Going into business with your family

April 15, 2015

According to the Harvard Business School, more than half of the businesses in the U.S. are family-owned and operated. Family ventures can be extremely rewarding but it is important to start out right. Here are some tips to help you along:

Put it in writing: Entering business with your family might be less formal than star... Read More

Why you should incorporate your yacht

April 14, 2015

If you're a regular reader of this blog, you have probably come to understand that there are numerous benefits of incorporating your business. It offers you and your partners certain legal protections and gives your company additional credibility amongst cons... Read More

Choosing a registered agent

April 14, 2015

If you're ready to incorporate your company somewhere other than your home state, you will probably need to hire a registered agent. Registered agent services are extremely beneficial for companies that operate in multiple locations across the country. For a small fee, the ... Read More

How much stock does my corporation need? [Video]

April 13, 2015

If you are a new business owner you might be wondering: "How much stock do I really need and what is 'par value'?"

The answer to these questions is simple. Each state has a guideline for authorizing stock in your corporation. For Delaware, it is recommended that you have, at most, 1,500 shares of common stock authorized. This will guarantee you the lowest fees both at the time of incor... Read More

2 pitfalls new entrepreneurs must avoid

April 13, 2015

Starting a new business can feel a little like gambling. Fortunately, with the right strategies and good advice you can take a lot of the chance out of the process.

Many new entrepreneurs run into hurdles when they start their first company. No matter what, you are bound to learn a few hard lessons as you pursue your entrepreneurial dream. However, there are some lessons that you can l... Read More

What is an EIN and why do I need it? [Video]

April 06, 2015
An Employer Identification Number (EIN), also known as a Federal Tax Identification Number, is used to identify a business entity. An EIN is a federal nine-digit number, kind of like a person's Social Security number, which is assigned to a company and identifies it for tax purposes. Businesses apply for EINs through the Internal Revenue Service. If you run a corporation, a Limited Liabil... Read More