E Tip-Save Time on Incorporation

Time Management for Business Development

One of the questions that women frequently ask me about starting their own businesses is:

How do I set up the legal side of my business?

This is an important question because the business structure you choose can have a big impact on:

• Whether  your personal assets are at risk if your business is sued
• Your tax rate for your personal and business income

When I went through this process over three years ago, I did some online research, called the IRS and Secretary of State, and ended up working with a lawyer. I got everything figured out for my S-Corporation, but it took a great deal of time. There were so many questions to ask to make sure I didn’t miss anything.

Fortunately for all of you starting a business right now, there’s a much simpler and comprehensive resource: BizFilings.com

I really like this Web site because it contains:

• A Learning Center about the different types of legal structures
• Step-by-Step Information on the process for forming these entities
• Multiple Programs that include compliance reminders

I recommend that you check out BizFilings.com to get a sense of what legal structure might work best for you and if you want further reading, I’ve listed some other helpful Web sites below.

Have a brilliant day!

Elizabeth

If you’re struggling to get your business off the ground, check out www.ScheduleMakeover.com or contact me at esaunders@RealLifeE.com. I can help you develop a schedule for moving forward on your dreams of business ownership.

Elizabeth Grace Saunders is a time coach and trainer who empowers women in business to build businesses and achieve work/life brilliance™ through her exclusive Schedule Makeover™ process. Inc magazine, NBC, and The Chicago Tribune are just a few of the places where Elizabeth has appeared, and she’s happy to offer you tips on savvy scheduling and time management for work/life balance and business development.

More Resources on Business Legal Structures:

Small Business Administration: Loads of information on starting a business

LegalZoom.com: A comparison of business structures

List of articles on business structures