by Durham Law Firm | Jul 28, 2022 | Business
If you need an EIN for your LLC in North Carolina, don’t worry. The process of obtaining one is simple and free. But what is an EIN and why do you need one for your business? Find out why you need an EIN, how to apply for an EIN, and how to start your LLC off...
by Durham Law Firm | Jul 20, 2022 | Business
What is a disregarded entity? In the most basic sense, it is a business type that the federal government ignores for tax purposes. The most common disregarded entity for federal income tax purposes is the single-member limited liability company (SMLLC). Let’s...
by Durham Law Firm | Jul 7, 2022 | Business
When starting a business, one of the first decisions you’ll need to make is what business structure to use. There are a few different options to get off the ground as a business, but two of the most common ways to start include getting a business license and...
by Durham Law Firm | Jun 30, 2022 | Business
Does an LLC S Corp get a 1099? As an LLC that has elected S-Corp status for tax purposes, the answer is “No.” You are not required to receive a Form 1099 from clients or businesses that contract with you. Instead, you report your earnings directly to the...
by Durham Law Firm | Jun 23, 2022 | Business
If you’re thinking about starting a business in North Carolina, you’ll need to choose the right business structure. One option is a general partnership: an association of two or more persons carrying on a business for profit. However, this type of...
by Durham Law Firm | Jun 16, 2022 | Business
When starting a new business, one of the first decisions you’ll need to make is what type of business structure you need. There are many different types of entities to choose from, but two of the most common are the S corp and the C corp. Both have pros and...
