promotion image of download ymail app
Promoted
Anonymous
Anonymous asked in Business & FinanceOther - Business & Finance · 1 decade ago

please help me aout my new business model.?

This business is about advertising, similar to things like those cars driving with ads painted on them. Im in Sewickley PA

My question is this (its multi part):

What else do I need to do to have my business LEGAL besides

1. Filling out Article of incorporation

2. Getting Employer Identification number

3. getting in touch with the town borough

4. Writing business plan

5. having a cotract between me an dmy partner

6. Bank account

I wont be employing anyone, I will have a business partnership to avoid the benefits thing, and more of that stuff. I will have contact info, but no office because Im just strating my business.

Oh yeah, and do i need license or anything to be allowed to advertise

2 Answers

Relevance
  • 1 decade ago
    Favorite Answer

    You may wish to clarify your type of business entity. An "Articles of Incorporation" suggests you'll be a corporation, which means by definition YOU will be an employee. That means you'll have to pay yourself payroll, file payroll tax returns with the Fed and State, etc. Most people choose to use a payroll service, which is an extra expense but cheaper than the penalties for doing it wrong.

    To avoid that, set up an a partnership or (to limit liability) an LLC. Both of those are taxed as a partnerhip.

    Also, so far as I know, all states require you to have an Agent for Process of Service. That just means someone who receives the papers if someone sues the company. You can do it yourself, in which case you'll have to provide a physical address, or you can hire a service to do it for you-- again, an added expense.

    As for business licenses, that's determined locally. Contact your city or county and ask them.

    You don't have to have a business plan to satisfy legal requirements, but having one is definitely a good idea.

    Don't forget to keep good financial records. Save every business-related receipt. Next spring, you'll need to file a tax return for the business, and your tax preparer will need to know what you earned and what you spent.

    And keep your company books seperate from your personal books. Not only does it make a mess otherwise, but comingling funds can in some jurisdictions and situations limit your protection from liability-- in other words, a creditor can come after your personal assets to satisfy debts owed to the corporation.

    Source(s): I'm an accountant, self-employed for 19 years.
    • Commenter avatarLogin to reply the answers
  • engman
    Lv 4
    4 years ago

    what's the relevance of you asking us how constrained is our self assurance in climate fashions? i in my opinion do no longer understand your ingredient in asking this question. right this is how the technological know-how works. fashions are in line with advice attainable. while the fashions are ran they're going to supply projected consequences. people who've studied the technological know-how then assign their degree of self assurance in as to how probably those expected consequences will become. Examples: could the climate fashions are waiting for that over the subsequent 50 years there'll be a three hundred foot sea point upward thrust, then people who've studied the technological know-how could maximum veritably assign a low share ingredient (<10%) that this can be the case. this could illustrate an fairly low degree of self assurance, by the scientist, that this could truthfully ensue. could the climate fashions are waiting for that over the subsequent 50 years there'll be a 3mm sea point upward thrust, then people who've studied the technological know-how could maximum veritably assign a extreme share ingredient (>ninety%) that this can be the case. this could illustrate an fairly extreme degree of self assurance, by the scientist, that this could truthfully ensue. Do the two of those type runs tutor that for the duration of 50 years there'll be precisely a three hundred foot sea point upward thrust or precisely a 3mm sea point upward thrust? NO! they simply tutor possibilities and then the scientist could desire to assign a level of self assurance in those possibilities. fashions do no longer are waiting for absolutes. They in no way have and that they in no way will. fashions tutor possibilities based on the advice given. those possibilities could desire to then be evaluated, by somebody that truthfully is familiar with what they're doing, and assigned a level of self assurance in those possibilities. the two you do no longer how fashions have been meant to artwork, you do no longer how scientist assign their degree of self assurance in type predictions/projections or you intentionally attempt to create confusion right here. that's it? i'm leaning in direction of, "all of the above"! are you able to slender this down somewhat from right here?

    • Commenter avatarLogin to reply the answers
Still have questions? Get your answers by asking now.