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Many home business owners and seekers forget that a home business is really a business. They forget to look at the problems they might face in the future. I am here to help you figure out first things first. Having a home business is like any other business whether it's online or offline. Viewing your business as a job can leave you with many problems. Many entrepreneurs begin a business and often fail, some might go through lawsuits where they lose all of their assets, i.e. home, car, business. That's why before choosing an opportunity you need to look at incorporating your business. Becoming a corporation or a limited liability company simply means that you and your business will no longer be one and the same. When it comes to tax planning, lawsuit protection, financial privacy and available deductions, this will only benefit you, and never be detrimental your ability to run your company. Incorporation will not put you at risk. In fact, it is the complete opposite. It will counteract all of the risks that you, as the business owner, regularly encounter. Your business has the potential to thrive. By learning more about LLC formation you will be giving it the chance to do so. Many of us start out as sole proprietor, meaning a business entity that is owned and run by one individual and in which there is no legal distinction between the owner and the business. Being a sole proprietor is convenient and inexpensive which in turns convinces many business owners that it's the route they should take. If your company is a sole proprietorship then you and your business are one and the same as I explain earlier. This means that you and your personal assets, assets that are unrelated to your business, have no protection in the event of a lawsuit. Sole proprietors also have the highest losses in terms of their business revenues and the highest rates of tax audits (IRS just loves a sole proprietor). This can be avoided when you choose to start a corporation or a limited liability company. I'm sure your wondering, well where should I incorporate? You are able to incorporate in any state, Nevada has distinguished itself from all the rest, but if you do not live in Nevada then it is best if you do not incorporate their. Reasoning being is because say if you lived in Georgia, and you incorporate in Nevada then you will have to pay Georgia's taxes and Nevada's taxes. Although Nevada corporate services make the claim that you will best be able to protect both your personal and professional privacy and ease your mind in the event of a lawsuit. Which is true, but you will also be out of a lot of money. I suggest you look into incorporating in Delaware or Wyoming, reason why is because no state income taxes, no information collected to be shared with the IRS, privacy, shareholders are not listed with the state, best asset protection laws, citizenship is not required, and lower start up cost. There you have it.
Hi I'm Will Uboro I've been involve with online businesses and internet marketing for 3 years. If you have any questions please email me at WHollins@powerprosperity.com. Have a beautiful day.
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==== ==== We are giving you a book today that will show you how to start a business in Nevada even if you do not ever plan to live in Nevada. http://nevadainc.thingsinreview.com ==== ====