A taxpayer identification number (TIN) is a unique identifier for a business, employee, or contractor that can be used on US government tax forms. Many people already have a tax ID number in the form of an employer identification number (EIN) or Social Security number (SSN). Having a TIN allows a business to obtain a…
5 Sole Proprietorship Pros and Cons
A sole proprietorship is a single-member business that’s never formally incorporated with a state filing. Sole proprietorship pros and cons include that It’s easy to set up, but there’s no distinction between business and owner and no liability protection. Sole proprietorships minimize startup costs but won’t help you limit your personal liability. Regardless of how…
Partnership Agreement Checklist
The below checklist is designed to be used in conjunction with “The Ultimate Guide to Business Partnership Agreements“. Print a PDF of this Checklist Decide if you need a lawyer or start with a Business name(s) and purpose Learn More Partner areas of responsibilities Learn More How much time each partner will commit Learn More…
Trademark Costs: DIY Registration vs. Online Service vs. Lawyer
Registering a U.S. federal trademark will likely cost between $225 and $2,000. The trademark cost if you file yourself will cost at a minimum of $225. The trademark cost using an online service will cost around $500. The trademark cost using a trademark attorney will likely cost around $1,500 to $2,000. If you want to…
What Is A Cooperative? And How Do You Start One?
A cooperative, or co-op, is an organization owned and controlled by the people who use the products or services the business produces. Cooperatives differ from other forms of businesses because they operate more for the benefit of members, rather than to earn profits for investors. Cooperative businesses can be as small as a community buying…