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Special Report on

Sole Proprietorship FAQ

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with all assets owned by a single individual and all liabilities accruing to the owner.  The sole proprietorship is not a separate legal entity under the law, and is considered the activity of the individual that owns the business. This type of business structure is best suited for a small business operation that is not capital intensive and faces minimal liability issues that can be covered through the use of insurance.  Examples of activities that are suited for sole proprietorships are home retail and service businesses and relatively small retail outlets that do not sell goods or services that can lead to ...
paid directly into their individual 401(k) account, which is managed by the employer. Such payments are known as "contributions". As a benefit to the employee, the employer can optionally choose to "match" part or all of the employee's contribution by depositing additional amounts in the employee's 401(k) account or simply offering a profit-sharing contribution to the plan. Since 2006, another type of 401(k) plan is available. Participants in 401(k) plans that have the proper amendments can allocate some or all of their contributions to a separately-designated Roth account, commonly known as a Roth ...
Liabitity Insurance FAQ |
I am looking to inspect homes for termites, for the sale of real estate. I am wondering what a bubble park figure for insurance would be? Any answers would be appriciated. Thanks Insurance agents could help you next to this… it can’t be too much because there… Are construction vendor required to furnish proof of their standard liability insurance coverage.? After being audited we are being slapped beside a $20,000 penalty for not having the nonspecific liability coverage of our vendors on file. I believe they must provide it on demand … more to the point, I believe that as an originating contractor, you ... market research, surveys and trends
Should I Incorporate My Small Business?
Here’s a crazy question: Is your business too small to incorporate? It’s not a dumb question. Yes, incorporation limits the financial liability of the business’s owners. And, sure, a corporation can save its owners payroll taxes (through the S corporation tax accounting rules). However, corporations carry extra costs for your business, such as extra state taxes and accounting costs. The resulting tradeoff is that you receive the benefits of tax savings and liability protection at the cost of larger state taxes and accounting fees. To make sure you get benefits in line with the costs you may incur, consider the ... market research, surveys and trends


Small business FAQ - The free small business ...
special pages with links to online resources for small business owners and employees. This directory is a collaborative project created by users of Scroll to the bottom of this page to find out how you can help keep this page accurate. The SBA Office of Advocacy defines a small business for research purposes as an independent business having fewer than 500 employees. Firms wishing to be designated small businesses for government programs such as contracting must meet size standards specified by the U.S. Small Business Administration (SBA) Office of Size Standards. These standards vary by industry; for size ... industry trends, business articles and survey research
SBA: Office of Advocacy - 2005 Small Business FAQ
Applying the sole proprietorship growth rates to the nonemployer figures and sim - .... Of the 23 million firms in 2002, 6.9 percent were owned ... industry trends, business articles and survey research
South Point's Michael Gaughan gambles on looser slots
Michael Gaughan doesn’t have to consult a board of directors, worry about Wall Street, appease shareholders or hold countless management meetings to accomplish his goals. Gaughan says he’s not concerned about how his competitors operate their businesses or what they think about his methods. That helps explain why he directed technicians to open up a few hundred so-called penny slot machines and replace their computer chips — the devices that control how much slot machines pay back over the long haul — with chips programmed to pay back 1 to 2 percent more of gamblers’ wagers over time. Gaughan didn’t advertise the change. He ... market trends, news research and surveys resources
This painting contractor does exteriors and interiors and gets the lead out
ot many people can say they started their careers at the age of 13, but Paul Lafayette can do just that. The owner and sole proprietor of Lafayette Painting Inc. picked up his first paintbrush at the age of nine. “My family owned rental properties,” the fifth-generation Burlingtonian says. “In the summer, my dad would make us help paint the outside of the buildings. I actually painted my first house for contract at 13 for one of the customers on my paper route. I remember charging $350. I gave my brother $50 and kept $300. That was a lot of money.” The Rice Memorial High School grad recalls the years between his graduation in ... market trends, news research and surveys resources


IRS Form W-9 FAQ's
IRS Form W-9 FAQ's. 1. Who should complete an IRS FormW-9, “Request for Taxpayer Identification ... sole proprietorship or single-member LLC on Line 2. ... technology research, surveys study and trend statistics
Hawai`i Business Express : Frequently Asked Questions
A: Hawai`i Business Express is a one-stop licensing portal for businesses to interface with the State of Hawai`i. Currently, Hawai`i Business Express allows a new business to be created online through a wizard interface. The benefit of the wizard interface is that a new business owner will only need to answer a few questions once versus filling out multiple forms of the same information. In the future, businesses created with Hawai`i Business Express and businesses currently in operation will be able to 'manage' their basic business data and keep their business current. ... technology research, surveys study and trend statistics
MA Small Business Development Center | FAQs
Sole proprietorships without employees can use the proprietor's social security number as a business identification number. It may, however, be advantageous for a sole proprietorship to have an EIN number. Partnerships and corporations with or without employees, and sole proprietors with employees, must obtain an Employer Identification Number (EIN) (Form SS-4) from the IRS. The form can be obtained from the IRS at or 800-392-6089. Partnerships and corporations with or without employees, and sole proprietors with employees, must register their business with the Department of Revenue. This can only ...
Should I register my business as an LLC or Sole Proprietorship?
I am in the process of starting a new business, television production related, in the state of California. I am trying to figure out how I should form the business. From my research I think either LLC or Sole Proprietorship is the way to go, but I am honestly lost. I have one business partner. The business is a subscription/internet based production company. If you need to know more about it you can visit the site at Thank you in advance for your help and advice!  Discuss this question (0 comments) why can't I answer? Show all details , Hide all details  by Schelli on ...
Business Know-How Small Business Forum - Cost to Convert from Sole ...
Since it seems a lot more complicated to start an LLC, I'm tempted to start a sole proprietorship then convert it to an LLC. What are the costs & risks of doing that? How long does it take to start an LLC vs. a sole prop.? I would appreciate your feedback and insight as I am a new entrepreneur. A sole proprietorship is the easiest and least expensive format to use to start a business. Your only costs will be just whatever local business license fees or DBA (doing business as) fees if you're going to be doing business under a business name. Those fees are usually minimal. During the year, you keep track of your ...