You’ve spent time and effort building your company, and it makes sense to protect those assets by incorporating your small business. This doesn’t need to be a daunting task. However, failing to incorporate properly or incorporate at all carries substantial risk. Without it, you have no legal protection, and no legitimate claim to your name or credibility.
1. What is my corporate or business name?
Make sure your name is legally available. A corporate name is not the same as a trademark, even though many people use them interchangeably. When a corporation is filed, the name may not have as broad protections as under trademark law. Trademark laws vary from the federal to state level, and even from state to state which means that selecting a name for your business can require multiple filings. If you want to build a brand, you can’t trespass on someone else’s trademark and both the corporate name and trademark must be available or you could end up with an expensive lawsuit.
2. How am I going to protect my personal assets?
Do enough research to identify and understand the different ways you can protect your assets. In addition, beyond the initial incorporation, having a strategic plan to manage your assets establishes accurate, thorough accounting and tax practices up front.
3. What state should I incorporate in?
Since each state makes its own laws, you’ll want to be aware of the laws and tax implications both in the state you incorporate in, and the states in which you’re doing business.
4. What type of entity do I want to be?
Think about how you want to organize your business. Your choice will depend on your business size, the number of employees, members, and shareholders, and how you want to be taxed.
5. How do I want to be taxed?
This also depends on the size, structure, business, and direction of your corporation. Determining and understanding the right entity for your small business, enables you to establish long-term accounting goals.
6. Who are my members or shareholders?
Fill these roles with business savvy professionals whose integrity, ethics, and goals complement your own.
7. How am I going to issue stock or membership interests?
The structure you chose affects whether you issue stock or membership interests. RDS provides stock and membership certificates. RDS will provide stock certificates or membership certificates in binders. Managing this when you incorporate or form an LLC saves multiple hassles later.”
8. What preparations should I make to handle my business license(s)?
Once you begin your business, you are responsible for maintaining the integrity of your business entity. “Where do you want to do business? With whom and how will you manage the transactions? “It’s important to obtain and maintain your business licenses from the inception of their company.
9. Do I have a business plan for my investors?
Develop, maintain, and update a plan you can show to potential investors. Keep an accurate record of your complete accounting plan and practices to endorse your credibility.
10. How am I going to save money on taxes?
Choose the right entity for your small business, and develop long-term relationships with experts who understand your business and can direct you toward the best accounting practices.
In order to retain corporate existence, one must observe certain corporate formalities such as holding an annual meeting, taking corporate minutes, issuing shares and appointing officers.
Lawyers charge, on an average, over $200.00 per hour. With our document filing services, you know exactly what you need, what you are getting and how much it all costs from the very beginning.
You could file everything yourself, but when you consider the time needed to file, administer and maintain all the documents necessary to keep your business running legitimately, why would you? Rapid Document Services, Inc. offers you serious savings when it comes to your time and resources.
Once you decide to form your corporation, simply call us and we take care of the rest. Let us help you get it done, so you can get back to business! Incorporate with Rapid Document Services, Inc.