I need to hire people to help with an upcoming project. Are they considered independent contractors or are they new employees? The amount of control you have over the workers you hire will indicate whether they should be classified as independent contractors or as employees. In general, if you tell your workers where, when and …
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What documents do I need to open a bank account for my new business? Most U.S. banking institutions will require both a Federal Employee Identification Number from the U.S. Internal Revenue Service (also known as a federal tax ID number) and proof of registration with the Secretary of State office in the state where the …
Where should I incorporate? You may incorporate in any state regardless of where your business is physically located. Incorporating in the state where you reside is usually the best choice. Delaware has also been a favorite due to the state’s extensive case law governing corporate activities and relatively liberal incorporation requirements. However, most states have …
Two common questions of a new business owner are: Do I need to incorporate or form a business entity? Does a sole proprietorship work better if my business consists of only me? A business entity protects your personal assets from creditors and other legal claims against your business. Without the protection of a business entity, …
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The CARES Act, effective March 27, 2020, provides significant benefits for qualifying businesses suffering financial difficulties due to the economic impact of the current health crisis. Paycheck Protection Program Loans – These loans are available through the Small Business Administration (SBA) to small businesses, nonprofit businesses and those who are self-employed. The funds obtained through …
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