Limited Liability Company - TruNotary- Notarized Your Documents Online https://www.trunotary.com Upload A Document, Prove Your Identity, Connect With A Notary, Notarize Your Document. The Most Trusted 24/7 Online Notarization Platform. Accepted In All 50 States. 24/7 Online Notarization. No Appointment Needed. Fri, 28 Aug 2020 20:10:07 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://www.trunotary.com/wp-content/uploads/2020/09/cropped-stamp-32x32.png Limited Liability Company - TruNotary- Notarized Your Documents Online https://www.trunotary.com 32 32 Federal Tax ID (EIN) https://www.trunotary.com/product/federal-tax-id-ein/ https://www.trunotary.com/product/federal-tax-id-ein/#respond Fri, 28 Aug 2020 18:53:09 +0000 https://www.trunotary.com/?post_type=product&p=2696

A federal tax ID, also known as an Employer Identification Number, is a unique number assigned to your business by the IRS.

The IRS requires most business entities to use a federal tax ID (EIN)—corporations, partnerships, most LLCs, and some sole proprietorships. A federal tax ID offers other benefits, even when it isn't required by the IRS. For instance, it can help protect against identity theft, and it's often a prerequisite for opening a business bank account.

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What is a federal tax ID? A federal tax ID (officially known as an Employer Identification Number or EIN) is a unique number assigned to a business or organization by the IRS. A business uses its federal tax ID much like a person uses a Social Security number.

Why get a federal tax ID (EIN)?

Essential for most businesses If your business will have employees or file taxes, you probably need a federal tax ID from the IRS.

Often required for business banking Banks usually ask for a federal tax ID before opening a business bank account or line of credit.

Helps shield against identity theft Sole proprietors may use a federal tax ID to help keep their own Social Security numbers private.

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]]> https://www.trunotary.com/product/federal-tax-id-ein/feed/ 0 Sole Proprietorship https://www.trunotary.com/product/sole-proprietorship/ https://www.trunotary.com/product/sole-proprietorship/#respond Fri, 28 Aug 2020 18:42:31 +0000 https://www.trunotary.com/?post_type=product&p=2689 Is a sole proprietorship right for you? If you're in business for yourself and you haven't created a formal business structure, then chances are, you're already a sole proprietor–so make sure you understand the implications.

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Sole proprietors are personally liable for the debts of their business. If the business is sued, your house, savings, and other personal assets are at risk.

Taxes
A sole proprietor is responsible to report all business profits as personal income, and pay self-employment tax on those profits, to cover Social Security and Medicare.

Hard to Raise Capital
There are no partners, shares, or membership interests in a sole proprietorship so it’s generally difficult to attract investors without changing your business structure.

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]]> https://www.trunotary.com/product/sole-proprietorship/feed/ 0 Limited Liability Company https://www.trunotary.com/product/limited-liability-company/ https://www.trunotary.com/product/limited-liability-company/#respond Wed, 26 Aug 2020 22:38:00 +0000 https://www.trunotary.com/?post_type=product&p=2647 An LLC, which stands for "Limited Liability Company," is a type of business structure that lets you classify your business as a separate entity from you personally. This allows you to keep your personal assets separate from your business assets, and protect them from your business' debts and liabilities.

You can open bank accounts, enter contracts, hire employees, and obtain business licenses and permits under your LLC. Most states require an annual filing and fee to keep your business in good standing.

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Requires fewer formalities
Unlike with a corporation, you aren’t required to have a board of directors or shareholders with an LLC. You have more options in setting up your management structure.

Protects you and your assets
An LLC protects you and your personal assets—including your car, home, and bank accounts—from liability if your business is ever sued or incurs debts.

Gives you tax flexibility
With an LLC, you get to choose how you’ll be taxed. By default, LLCs are taxed as pass-through entities, but you can decide to be taxed as a corporation or an S corporation.

What’s the process for forming my LLC?

If you know the name you want to use, we’ll do an initial search. Not yet sure? You can decide once you’ve completed our questionnaire.

Next, we’ll review your answers and check if your proposed LLC name’s available with the Secretary of State. If not, we’ll contact you for an alternative name. Once your name’s settled, we’ll prepare your Articles of Organization and submit them to the Secretary of State to register your LLC.

Finally, we’ll complete any additional documents you ordered like your EIN, which will be sent via email once completed and available.

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