Business Start-Up Tips
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Starting a business is not a simple task and you will want to ensure that you follow all of the necessary steps and complete them in the proper order. You will never want to take the cheap route in setting up a business because you may need to spend a little extra money to provide yourself with a little more protection. So if you need to spend the extra money and take the extra time to become incorporated then you should do so. By following these simple tips you will be able to save time and money without skipping out on anything important.

#1: Begin by filing a Form SS-4 Federal Employer Identification Number with the IRS. This can be done during the formation of your business. If you are a sole-proprietor, you may not need to file for an employer identification number, unless you are going to be hiring employees.

#2: If you don’t see a need to incorporate now, you can start as a sole proprietor or partnership and then “upgrade” your business entity status later on down the road. This is a great thing to keep in mind if you are unsure as to how successful your business will be or the extent that it may grow to.

#3: Secondly, you will want to consult an accountant for tax filing advice. They will be able to help you with the different tax rules and with filing information. A CPA who works on their own is usually the best choice because they are able to personalize their services to fit your needs.

#4: Prepare your information in advance for your lawyer. Include all of your contact information, the number of shares available if you are a corporation, the purpose of your business and the duration of your business. Go lawyer shopping by calling around and asking what services they include with their price.

#5: Save on W2 forms for your employees by getting them directly from the IRS. They will often give you a small amount, which should be sufficient to get you started. You can also purchase them from office supply stores or download them off of the Internet.

#6: Attend any local workshops or events that may provide you with useful information on suppliers, vendors and other useful resources. You may also be able to network and meet people who could benefit from your business or perhaps you could benefit from their services.

#7: Continue to brush up on your business skills by attending continuing education classes. These classes are offered at many community colleges and state colleges. They can be very useful in keeping you up to date on business activities, new computer software classes and more. These classes do not typically require any prerequisites or prior degrees.

#8: Keep your business records forever if possible. If you keep them on computers, consider burning your information to CDs or using an offsite storage company. Back up your information periodically to ensure that it is safe and conveniently found. You should keep your start-up records forever as well. Periodically, you may be able to go through and get rid of some of this information, but it is always smart to keep it at least five to eight years.

#9: No matter how big or small your business is going to be, you need to have a professional look. Be certain that you use professionally printed business cards, letterhead, invoices and other related forms. These are essential in giving your business the professional look that you require. This also means that you may need to have a logo professionally designed as well.

#10: Always check with local authorities on zoning regulations. If you are a home business, you then you will want to ensure that you are following the rules on the type of business that you can run out of your home. If you are manufacturing something, such as doing carpentry in your backyard, you need to ensure that you are not breaking any noise zoning laws or other zoning laws that may pertain to you. You also want to ensure that you have the proper licenses for the type of business that you are running.

Following these simple tips can save you a lot of headache down the road when it is time to file taxes or conduct other business. You will be able to ensure that you are playing by the rules and saving money as well.

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