3 Things To Do After You Get Your LLC Formed
It can be one of the most joyous occasions in life, forming your own business and getting all the paperwork done and filed away.
You will be proud of your accomplishments and you'll finally be on your way to financial freedom.
However, you will need to do something afterwards, but what? Consider the following 3 things that you need to do after you get your LLC formed that will help you move ahead with your business and start making serious money without having to work that old 9 to 5 job that you have hated for some time.
Employer Identification Number - The very first thing to look out for is getting an EIN.
This will allow you to separate yourself from your business as far as your taxes are concerned.
You will need this to do business and every city and state make t his mandatory if you're going to have employees under you.
You might as well get it asap to avoid problems down the road.
Business License - You will need to get a full fledged business license to operate in the city that you live in.
You will get a fine if you operate without a license, and that can cripple your financial status.
Make sure that instead of waiting for problems to arise, that you're proactive and you look for the sign up options through your local city hall and get it taken care of.
This is a low cost thing to do, so make sure that you don't hesitate to do this.
Seller's Permit - The third thing you should look into is getting a seller's permit regardless of whether or not you are going to be retail or wholesale.
You'll need to get this paperwork cleared and filled out if you're going to operate any business where there will be transactions in the form of sales.
You absolutely need to get this taken care of before you can sell anything.
The above three things are a stepping stone that should not be avoided when moving forward.
You'll want to do some other things in conjunction with the above, but they are prominent and important up front.
Over time you will need to do more like, setting up a separate bank account from your personal savings.
After you've done that you'll want to also try and get a very important piece to the business puzzle, and that's a business credit card.
If you don't get a business credit card you might end up incurring costs that you'll have to use your savings to pay for, and that could be an issue that no one wants to deal with.
As you progress with your LLC you will find other things to do, but the above are the top candidates that you need to take care of first.
Don't allow yourself to forget those things or you will end up paying a great deal in fees, and fines.
Use your finances to help your business, not pay for fines that could be avoided by simply filling out forms and applications.
You will be proud of your accomplishments and you'll finally be on your way to financial freedom.
However, you will need to do something afterwards, but what? Consider the following 3 things that you need to do after you get your LLC formed that will help you move ahead with your business and start making serious money without having to work that old 9 to 5 job that you have hated for some time.
Employer Identification Number - The very first thing to look out for is getting an EIN.
This will allow you to separate yourself from your business as far as your taxes are concerned.
You will need this to do business and every city and state make t his mandatory if you're going to have employees under you.
You might as well get it asap to avoid problems down the road.
Business License - You will need to get a full fledged business license to operate in the city that you live in.
You will get a fine if you operate without a license, and that can cripple your financial status.
Make sure that instead of waiting for problems to arise, that you're proactive and you look for the sign up options through your local city hall and get it taken care of.
This is a low cost thing to do, so make sure that you don't hesitate to do this.
Seller's Permit - The third thing you should look into is getting a seller's permit regardless of whether or not you are going to be retail or wholesale.
You'll need to get this paperwork cleared and filled out if you're going to operate any business where there will be transactions in the form of sales.
You absolutely need to get this taken care of before you can sell anything.
The above three things are a stepping stone that should not be avoided when moving forward.
You'll want to do some other things in conjunction with the above, but they are prominent and important up front.
Over time you will need to do more like, setting up a separate bank account from your personal savings.
After you've done that you'll want to also try and get a very important piece to the business puzzle, and that's a business credit card.
If you don't get a business credit card you might end up incurring costs that you'll have to use your savings to pay for, and that could be an issue that no one wants to deal with.
As you progress with your LLC you will find other things to do, but the above are the top candidates that you need to take care of first.
Don't allow yourself to forget those things or you will end up paying a great deal in fees, and fines.
Use your finances to help your business, not pay for fines that could be avoided by simply filling out forms and applications.
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