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What is the difference between and LLC and a Sole Proprietorship
An LLC (Limited Liability Company) provides protection for your personal assets, meaning if your business faces legal issues, your personal belongings like your house or car are usually safe. In contrast, a Sole Proprietorship offers no such protection; your personal and business assets are legally the same, so if the business gets sued, your personal assets could be at risk.
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How long does it take to open a LLC?
Processing times vary by state, but typically, once we file, it takes no more than 5 to 8 business days.
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Do I need a Business Name?
It depends on the type of business you’re starting. If you’re forming an LLC (Limited Liability Company) or a Corporation, you’ll need to choose a business name. However, if you’re operating as a Sole Proprietor, a business name is not required unless you want to use something other than your personal name.
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Do you help with maintaining my new business?
Absolutely! We take care of everything for you, from licensing and insurance to maintenance and taxes. Our all-in-one service means you won’t have to waste time searching for other companies to handle different aspects of your business. We’re here to make the entire process seamless and stress-free for you.
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Do I need Business Insurance
Some businesses, like construction companies and dealerships, are often required to carry insurance and, in some cases, bonds. However, it’s always advisable to have insurance, even if it’s not mandatory. Insurance provides essential protection against unexpected risks, helping safeguard your business and giving you peace of mind.
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What is a EIN number
An EIN (Employer Identification Number) is a unique, nine-digit number assigned by the IRS to identify your business for tax purposes. It’s like a Social Security number for your business and is used when filing taxes, opening a business bank account, and hiring employees.
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What is a BOIR Report and do I need it?
A BOIR (Beneficial Ownership Information Report) is a document that provides details about the individuals who ultimately own or control a business. It’s required by the U.S. government to increase transparency and combat money laundering. Whether you need one depends on your business type, but most small businesses don’t need to file a BOIR unless they meet certain criteria, such as being a corporation or LLC.