- Sole Proprietor (1040 Schedule C),
- Corporation (1120),
- Partnership (1065),
- S-Corporation (1120S),
- Trust (1041), and
- Non-profit organization (990)
This is my first post of many and let me start by saying that blogging isn't my first forte. This isn't a professional running editorial on running your business. Just informal assistance, so let's get started.
Before you get started you need to understand the type of businesses entities there are and what your end goal is with the business. There are six types on the federal level;
On a state level, setting up a business is easy, once you have your EIN. The Colorado Business Express website ( http://www.colorado.gov/cbe/stepsNew.html ) will help walk you through the process. Here you will find a wealth of information on the steps to getting started. While it doesn't answer all of your questions, it's a great start.
This will get you started and later this week, I will walk through all of the types of business with more details explaining the differences.