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7 articles tagged “Start a Business”.
The IRS EIN application asks about your legal name, the person who controls the business, your entity type, why you're applying, when you started, your accounting year, expected employees and what you do. Most small businesses answer: calendar year ending in December, starting a new business, and zero or few employees.
Most US small businesses need at least one license or permit, but which ones depends on what you do and where you do it. Federal licenses cover only a short list of regulated activities. Most requirements come from your state, county and city, such as a general business license, a sales tax permit, professional licenses and zoning or health permits.
A sole proprietorship is the simplest and cheapest way to run a US business, but your personal assets are exposed to business debts and lawsuits. An LLC costs more to form and maintain, yet it separates business liabilities from your personal property. Both are taxed the same way by default, so the choice mostly comes down to risk.
You can get an EIN free from the IRS online in about one sitting. Have your business details and the responsible party's SSN or ITIN ready, apply during the tool's operating hours, complete the form without pausing for more than 15 minutes, and download your confirmation letter as soon as the number appears.
To register a small business in the US, choose a structure, pick a name, appoint a registered agent and file formation papers with your state. Then get a free EIN from the IRS, apply for any state tax accounts and local licences, and open a business bank account. Most state filings cost under $300.
No business is failure-proof, but the data points to essential, repeat-demand services such as healthcare, education, bookkeeping, repairs and home services as the sturdiest. Businesses that depend on trends, heavy stock or expensive premises fail more often. How you run the business matters more than the label on it.
The easiest businesses to start are the ones that sell a skill you already have or a product you don't have to stock: freelancing, tutoring, social media management for local shops, reselling, home-cooked food and simple local services. Pick one, get your first paying customer within a month, and improve from there.
