Tax and Legal Questions for Starting a Business
Starting a business requires some knowledge of tax and legal issues. This article covers the following questions: Should I hire a lawyer and/or accountant? What type of entity status should my business have? What kind of effort is necessary to set up each entity type? What liability protection do I get with each entity type? How is each entity taxed? Should I incorporate as an LLC or S-corporation? Should I incorporate in another state? What tax forms will I need to file annually?
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