Have a Legit Business in 5 easy steps

Legit Business in 5 steps

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You will learn how to become a legit company, painless.  Cause you don’t want your SSN floating out there or the IRS wanting to talk to you.

 

 

For my readers, below is the transcript of the video:

Well Hello!  My name is Renee Lamb and I am your job exit strategist. You will learn how to become a legit company, painless.  Cause you don’t want your SSN floating out there or the IRS wanting to talk to you.

[maxbutton id=”1″ url=” https://reneemlamb.com/online-business-or-hobby” text=”Related Reading – Online Biz or Hobby?” ]

The 5 easy steps

Step 1. Pick a Business name

Pro-tip: Name it after yourself and then register a D.b.A. (do business as) for that clever name or a product that you can market out.  Doing it this way is if you do not like the DBA, you can stop using it and never go through the hassle of changing your legal business name.

 

Step 2. Get Tax ID

Also referred as EIN (Employer Identification Number).  This number will be crucial when you open your business bank account.  It is also much safer to have out in the internet, than your social security number.

 

Step 3. Registered Agent

You do this if you do not want your home address out there in the public.  This applies to home-based business (online business).  Some options to get business address (which must be a physical address, not a P.O. box if you do a LLC)

Virtual office spaces, or virtual business addresses provide you with a professional-looking mailing address.  Do a google search of “virtual business addresses” and you will find many options, that can fit your business budget.

USPS’s Street Addressing for PO boxes

Co-working Space- co-working spaces provide you with a more professional mailing address to use for your business and meeting and conference rooms you can use.  If you live in the Phoenix AZ area check out She Works Here.

Step 4. Choose your business structure and register with your Secretary of State office

The business structure should start with is an LLC (limited Liability Company).  It gives you great protection and the easiest to handle with paperwork.  You can always move to S-corp. or Corporation later down the line.

 

Step 5. Permits or License

Depending on what your home-based business you may have to have a permit.  For instance, if you are a cupcake baker, health inspections or zoning rules.  Check it out to be on the safe side.

 

Next Steps

Just do it! If you signed up for the Freebie, it will tell you exactly what steps you need to take in your specific state.  I also included options for you to get it done for you.  So no excuse.

Let me know in the comments if you have completed this.  Also what is your business all about. Please tell me in one sentence.

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Renee Lamb

Renee has over 15+ years of experience in the corporate world. She has had management roles in HR, international healthcare and project management. But the role she loves the most is Job Exit Strategist for her own company, Renee M. Lamb, LLC. Renee is not only passionate for, (well maybe obsessed) being an advocate for helping professionals to gain freedom and wealth via entrepreneurship. She believes her role is to give them wings so they can soar to greater heights on their entrepreneurship journey. She does this by her coaching programs and courses.

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