Ask - Jeff Winters

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"Jeff Winters answers your Entrepreneurial Questions" For many of us our professional transition may include a decision whether or not to become an entrepreneur and create your own jobs. Jeff Winters (CEO www.OurExperienceCounts.com) partners with the Alameda County (CA) branch of the SBDC (Small Business Development Center), hosting a webinar focused on providing support for the decision and the early stages of a new company. OurExperienceCounts.com will continue developing new webinars that provide support specific to the planning required for different types of enterprises. Whether you are considering a consulting service, exploring purchase of a franchise or actually planning to setup a manufacturing operation, we want to help. To better provide this help on a more-timely basis, Jeff will be hosting a weekly blog that will focus on answering your specific questions and concerns.

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Ask Jeff - Should I Incorporate
December 13, 2010 by Ask - Jeff Winters
You’ve decided to start a new business and you’re excited about the prospect of finally being your own boss. Now what? Well, you need to decide how to legally setup your new enterprise. Do you incorporate, and if so how and what option do you choose. Actually, the first thing you should do is decide on a name. After that, you should do a search to determine if this name is available to you. When you go register your company in your local municipality they will have a listing of the names already taken. If you choose to incorporate, you will need to do a corporate search. 
While in the investigative mode, it’s premature to go through the expense of actually obtaining a business license or incorporating. Once you are ready, you need to decide whether to incorporate or not. There are tax implications based on the decision you make and incorporation will in theory protect you personally. I say this in theory because in most cases a new entrepreneur will be required to personally sign for leases and credit. In any case, there are online options that can get you incorporated for well less than $500. You will also need to obtain a federal tax ID number before you can open a checking account. 
Good Luck!
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