Don’t be your company’s alter ego
One of the first steps in laying a proper foundation for your business is establishing a legal entity that protects you from being personally liable for the activities of the business. Most attorneys recommend new entrepreneurs form a limited liability corporation (LLC) which serves to do the exact thing outlined in its name - limit the liability of its owner. Larger businesses often incorporate their business to form a C corporation that generally serves to provide additional protection of the owners from personal liability. While this basic legal knowledge is pretty common to most, there are some key accounting responsibilities...
October 19, 2021
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