Description

Start your business with confidence using the best step-by-step guide available!

Many people dream of running a business of their own -- but often don't know how or where to start. Sound familiar? This is the book you need.

User-friendly and loaded with tips, The Small Business Start-Up Kit  shows you how to launch a business quickly, easily and with confidence. It explains in plain English how to:

• choose the best business structure
• write an effective business plan
• file the right forms in the right place
• price, bid, and bill your projects
• draft and use contracts, online and off
• manage your finances
• be prepared for, and file, required taxes
• reach customers online

The 6th edition of The Small Business Start-Up Kit has been fully updated to reflect the latest changes to the law and includes all the updated forms, business planning spreadsheets, and the instructions you need to fill them out, both as tear-outs and on the enclosed CD-ROM. Plus, read expanded discussions on using technology to manage bookkeeping, how social media can be used to promote your business, and employing the latest techniques in search engine optimization to drive traffic to your website.

Table of Contents

1. Choosing a Legal Structure

• Sole Proprietorships
• Partnerships
• Limited Liability Companies (LLCs)
• Corporations
• Choosing the Best Structure for Your Business

2. Picking a Winning Business Name

• An Overview of Trademark Law
• Trademark Issues Online
• Name Searches
• Choosing a Domain Name
• Trademark Registration
• Winning Names for Your Business, Products, and Services

3. Choosing a Business Location

• Picking the Right Spot
• Complying With Zoning Laws
• Commercial Leases

4. Drafting an Effective Business Plan

• Different Purposes Require Different Plans
• Describing Your Business and Yourself
• Making Financial Projections
• Break-Even Analysis
• Profit/Loss Forecast
• Start-Up Cost Estimate
• Cash Flow Projection
• Putting It All Together
• Using Your Plan to Raise Start-Up Money

5. Pricing, Bidding, and Billing Projects

• Pricing and Billing for Service Businesses
• Bidding and Creating Proposals
• Pricing for Businesses Selling Products

6. Federal, State, and Local Start-Up Requirements

• Step 1: File Organizational Documents With Your State (Corporations, LLCs, and Limited Partnerships Only)
• Step 2: Obtain a Federal Employer Identification Number
• Step 3: Register Your Fictitious Business Name
• Step 4: Obtain a Local Tax Registration Certificate
• Step 5: Obtain a State Seller’s Permit
• Step 6: Obtain Specialized Licenses or Permits

7. Risk Management

• Who Might Sue or Be Sued
• Risk Management Strategies
• Insurance and Warranties

8. Paying Your Taxes

• Tax Basics
• Income Taxes for Sole Proprietors
• Income Taxes for Partnerships
• Income Taxes for LLCs
• Estimating and Paying Your Taxes Quarterly
• City and County Taxes
• Sales Taxes

9. Laws, Taxes, and Other Issues for Home Businesses

• Zoning Restrictions
• The Home Business Tax Deduction
• Risks and Insurance

10. Entering Into Contracts and Agreements

• Contract Basics
• Using Standard Contracts
• How to Draft a Contract
• Reading and Revising a Contract
• Electronic Contracts

11. Bookkeeping, Accounting, and Financial Management

• Accounting Basics
• Cash vs. Accrual Accounting
• Step 1: Keeping and Organizing Receipts
• Step 2: Entering Receipts Into Bookkeeping Software
• Step 3: Generating Financial Reports

12. Small Business Marketing 101

• Defining Your Market
• Learning About Your Market: Market Research
• Cost-Effective Marketing Tools

13. E-Business: Selling and Marketing Online

• Defining Your Strategy and Goals
• A Website: Your Online Base Camp
• Online Outreach Methods
• E-Commerce: What’s Involved?
• Website Builder Services and Affiliate Stores: Do or Don’t?
• Planning a Website Project
• Choosing and Working With a Web Developer
• Creating a Website
• Domain Names and Hosting
• Intellectual Property: Who Owns Your Website?

14. Planning for Changes in Ownership

• When You Need a Written Agreement
• Buy-Sell Agreement Basics
• Limiting Ownership Transfers
• Forcing Buyouts
• Establishing the Price for Sales
• Implementing Buy-Sell Provisions
• Sample Buy-Sell Provisions

15. Building Your Business and Hiring Workers

• Employees vs. Independent Contractors
• Special Hurdles for Employers
• Hiring and Managing Staff

16. Getting Professional Help

• Working With Lawyers.
• Working With Accountants and Other Financial Professionals
• Internet Legal Research

Appendixes

A. Small Business Resources and State-by-State

• Contact Information
• Small Business Start-Up Information
• State Tax Agencies
• State Sales Tax or Seller’s Permit Agencies
• LLC Offices
• State Unemployment Compensation Agencies

B. How to Use the Forms CD-ROM

• Installing the Files Onto Your Computer
• Using the Word Processing Files to Create Documents
• Using Government Forms
• Using the Spreadsheets
• Opening a File

The following spreadsheets are available only on the CD-ROM:

• Cash Flow Projection Worksheet
• Profit/Loss Forecast Worksheet
• Break-Even Analysis Worksheet
• Billable Rate Worksheet
• Warranty Track Worksheet

C. Tear-Out Forms

• Partnership Agreement
• Application for Employer Identification Number (IRS Form SS-4)
• Instructions for Form SS-4
• Determination of Worker Status for Purposes of Federal Employment Taxes and Income Tax Withholding (IRS Form SS-8)
• Election To Have a Tax Year Other Than a Required Tax Year (IRS Form 8716)
• Entity Classification Election (IRS Form 8832)

Index

Forms

• Partnership Agreement
• Sample Buy-Sell Agreement Provisions

Tax Forms

• Election To Have a Tax Year Other Than a Required Tax Year (IRS Form 8716)
• Entity Classification Election (IRS Form 8832)
• Application for Employer Identification Number (IRS Form SS-4)
• Instructions for Form SS-4
• Determination of Worker Status for Purposes of Federal Employment Taxes and Income Tax Withholding (IRS Form SS-8)

State Contact Charts

• LLC Offices
• Small Business Start-Up Information
• State Sales Tax or Seller's Permit Agencies
• State Tax Agencies
• State Unemployment Compensation Agencies

Business Planning Spreadsheets

• Billable Rate Worksheet
• Cash Flow Projection Worksheet
• Break-Even Analysis Worksheet
• Profit/Loss Forecast Worksheet
• Warranty Track Worksheet

Legal Updates

Here are summaries of important legal or procedural changes that affect the latest edition of this product.