Starting a business or relocating your corporation’s headquarters? The state of Florida offers many advantages to those businesspeople seeking to relocate or establish a business in the Sunshine State.
In the first quarter of 2005, Florida’s GSP (Gross State Product) was $613.9 billion. This number is up 1.2% from the previous quarter and is up 4.6% from the previous year. Read the rest of this entry »
A corporation is a designated entity where the company and the individuals related to it, have different legal identities. The reason most companies prefer to incorporate is asset protection. Incorporation protects your personal assets from seizure during a lawsuit.
If you decide to incorporate your small business, you can choose the S corporation, C corporation or LLC model. Before choosing any kind of corporate model, you should look at the tax rules and regulations related to a corporation. Read the rest of this entry »
Your start-up business is taking off. In fact, you just got your first check.
Now, you need to get that money in the bank.
You don’t have a business bank account? How are you going to cash that check?
In order to open a business bank account, you need to have your business license showing your trade name, your Federal Employer Identification Number, and your Certificate of Incorporation for a corporation, or Certificate of Formation for your LLC, or your partnership agreement for a partnership. Read the rest of this entry »
A lot of people don’t give a lot of thought to using their own money when financing their business. At the time, it makes a lot of sense to just use the money you already have, but you could be setting yourself up for trouble later on.
If you continue with that method, using your personal credit cards to finance business growth or day-to-day operations, you could be jeopardizing your personal credit in ways you don’t even know.
You might not realize that wracking up personal debt in the name of your business is hurting you until you apply for a car loan or a mortgage, or you might have business creditors going after your personal assets because you’ve gotten into debt.
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Many business owners don’t know that there is such a thing as business credit–a kind of credit that your business has that is separate from your personal credit.
Using corporate credit is a great idea because financing business debt on your personal credit can lower your credit score and may make it impossible or much more difficult for you to finance a car or buy a home in the future.
Even those who know about the possibility of unsecured business lines of credit based on corporate credit aren’t sure how or where to get started when trying to establish a good credit history. This quick overview will give you an idea of what you’ll need to do.
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