Marc and I had our own business a couple of years ago. I swear, I will never do that again. I thought that because I love to cook, as evidenced by my various cooking blogs, I would naturally do well. Marc thought so too. And really, I did do well, and probably would have made a ton of money except for the mistakes I made in the business end of it. Honestly, one thing I would do differently is to become a corporation because we are still paying of all the junk that we ended up being personally responsible for.
But starting a corporation can be confusing. You have a ton of paperwork to do, and shareholders meetings even if the only share holders are you husband, your three year old and the cat. The IRS has lists and lists and lists of things they will want to see. Every year. Every single minute of every single meeting has to be documented. AND you HAVE to do the meetings, that is part of the requirements for being a corporation. When incorporate you should immediately have a meeting of directors and shareholders. You need to adopt bylaws. You should have an operating agreement.
Incredibly complicated, isn't it? That is why it is important to have help. I think had I thought to invest in some mentoring and such as that I would not have gone under. nevada corporation is a company that does just that.
They offer free forms as well as form packages starting at $25.00. That makes things much easier because you don't have to try to figure out what you need. The company has tax forms that you fill out for your tax i.d. or you can get them to fill them out for you for a fee. They have low priced corporate kits.
If you have questions you should go check out the FAQ page.
There is alot to know and understand. It is so much easier when you have help!
This has been a sponsored post.