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Small Business Taxes Gone Wild In California

I estimate that 99% of Californians do not understand the implications of the new small business tax that Governor Jerry Brown signed into law yesterday. This law would mandates online sellers like Amazon.com and Overstock.com to start collecting sales taxes on items shipped to California if they have some sort of relationship with an affiliate. [...]

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You Got the Opt-in, Now What? Here Are Some Top Email Strategies

The first part of email marketing is to get your visitor to opt-in your email list. Once they opt-in, the visitor becomes a prospect. The second part of email marketing is to move the prospect along your marketing funnel towards them becoming a customer. An important element of that is relationship marketing done via trust. [...]

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Linkedin Company Page Follows the Leaders Facebook and Yelp

There was a time when Linkedin was cool. Well, maybe “cool” is too strong of a word for this early social networking site. Let’s just say that Linkedin was *the* place to network as a business professional. You sign up for Linkedin, you make connections with people you work with, you ask for a recommendation, [...]

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A Way to Promote Your Business with Facebook Events

Let’s assume you’ve already set up your own Facebook profile and a separate Facebook Page for your business. Maybe you’ve also created a Facebook Group that relates to a type of product or service that your business provides. What are some ways that you can promote the special events your business sponsors? One way is [...]

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How to Remove Antispyware Soft

Marketing online is fraught with risks. One category is business risk. The other category is technical risk. Business risk is when you try to execute a digital marketing strategy and it fails. Technical risk includes the risk of not implementing your websites and/or scripts correctly. But technical risk also includes the risk from cyber-attacks. One of the most common form is viruses pretending to be a friendly program ... like a trojan horse. This blog is about how to remove Antispyware Soft. … Read More...

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Incorporate Business Online

October 15, 2009 By Alex Tran Leave a Comment

If you want to incorporate a business online, it’s easier and more convenient now than ever. The only thing you need to do is to choose the best legal entity for your business. Your basic choices are sole proprietorship, partnership, corporation, and limited liability corporation (LLC). Each of these legal entities has their own pros and cons. But once you decide what’s best for your business, it is straightforward to incorporate your business online.

When I start a business, the two things that I consider in terms of legal entity selection are personal asset protection and tax treatment. I am not a lawyer or an accountant. So take what I say from a businessman’s perspective. You should always consult with your own professional advisers.

There are some key differences between the basic legal entities. A sole proprietorship, for example, offers the advantage of being quick and easy to setup. In terms of taxes, you as the owner would report your profit and loss on your personal tax return. The downside to this entity is that you as the owner are personally liable for business debts.

Another type of legal entity that I consider is an LLC. In an LLC, the owners have limited liability for business debts. Profits and loss can be allocated independently of business ownership interests. And you can choose being taxed as a partnership or a corporation. The downside is that LLCs are relatively new so there aren’t that many precedents.

The type of entity that most people are familiar with is a Corporation. There are two flavors S Corporation or C Corporation. For both entities, the owners have limited personal liability for business debts. In an S-Corp, owners report profit or loss on their personal tax returns. In a C-Corp, owners can split corporate profit among the owners of the corporation. The main downside is the complexity of maintaining the paperwork.

This website contains a lot more detail to help you learn more about the various legal entities.

You can also use them to incorporate a business online. I have used them for many years and they work well with very reasonable rates.

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