Among all of the choices made when a business is formed, legal structure is an important decision many people in Chicago, Illinois, overlook. Legal structure determines how a business is taxed, how much liability the owners take on and even how much paperwork owners must maintain. Choosing the wrong kind of business structure can have lasting consequences, which is why business owners should carefully research their options and consider seeking expert help. Basic structures Four … [Read more...]
Setting up the financial portion of your new business
Posted on May 21, 2014 //
For virtually every new business owner, managing business finances properly is a top concern. Poor accounting and bookkeeping can lead to problems ranging from financial loss to legal violations. Although professional guidance is essential for important decisions and unexpected snags, the owners of most Illinois small businesses can benefit from understanding the basic guidelines for setting up the financial portion of a business. Starting steps Opening a business bank account is … [Read more...]
