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As your business grows, you may want to consider the benefits of incorporating. Many start a new venture with no thought about the legal structure for their business. The IRS considers “sole proprietor” to be the default structure in which your business profits are...
Before incurring debt, ask yourself the following two questions. Does taking on this debt offer any benefits? One might think the best advice would always be to avoid debt. Your financial situation, however, can be enhanced by good debt. A higher salary, for example,...
Don’t put your business at risk by relying on too few customers, vendors or key employees. To ensure your business is adequately diversified, consider the following: Customers. Being dependent on only a few customers for the majority of your sales could cause...
