Starting your own business is exciting. Like many entrepreneurs, first-time studio owners probably worked for someone else, either as an employee or as an independent contractor before embarking on their entrepreneurial adventure. Excited to begin their journey as a business owner, entrepreneurs often fail to take Step 1 in protecting themselves and their business, which is to establish a legal business entity.
When it comes to forming a legal business entity there are several options to choose from, and in most cases seeking the assistance of a legal professional to help you with the decision is advised. Yes, you can go online and use one of the numerous online legal services to form your business entity, but without the assistance of an attorney, chances are you will make an error that could have serious implications in the future.
In this action plan you'll learn:
- Your options (there are tons of them! We'll guide you through each)
- Filing for legal status (what to know)
- Obtaining a Federal Tax ID
- And so much more!