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Self-employment tax is a flat 15.3% on your business profits — paid directly to the IRS — and it covers both the employer and employee sides of Social Security and Medicare.As a tax attorney who's helped more than 40 self-employed people legally cut this bill, I can tell you most overpay simply because they don't know what's allowed.Here's what actually... Read more >

You can name your limited liability company after yourself as long as you conform to all legal requirements and follow the necessary steps. Through my work as a Mergers and Acquisitions specialist helping businesses form their LLCs, I've regularly advised entrepreneurs on whether using their personal name makes sense for their companies. Together with our team of business consultants, we at... Read more >

Starting an LLC in North Dakota isn't complicated — but there are specific documents to file and steps to follow if you want to do it right the first time.I've spent years working through business formation processes with real founders, including working directly with LLC specialists in North Dakota. What follows reflects current requirements and the practical realities of getting your LLC... Read more >

An LLC can be run by a manager and your LLC's operating agreement will define exactly what a managing partner can and cannot do. With the collaboration of our LLC experts with over ten years of experience and some researchers, we at Venture Smarter have properly detailed everything about an LLC managing partner. This comprehensive article covers everything from its definition to the functions the... Read more >

Most LLCs need an EIN — and getting one should be one of your first moves after formation.I've spent over 9 years as a business consultant helping clients set up and structure LLCs, and I've walked dozens of owners through the EIN application process and the tax decisions that come with it.Below, I'll cover exactly when an EIN is required, when it's optional, and how to get one fast. Read more >

The SS-4 Form is how you apply for an Employer Identification Number (EIN) with the IRS — and getting it right the first time saves you a real headache. I've helped a lot of first-time founders through LLC formation, and the EIN application is one of those steps that looks simple but trips people up more than it should. Below, our team walks you through exactly how to fill out Form SS-4 for an... Read more >

Whether your LLC needs to send or receive a 1099 depends on how it's taxed and how much it paid — not simply whether it's an LLC.After reviewing IRS guidance and consulting with tax professionals across more than 9 years of small business consulting, I've helped dozens of LLC owners answer this exact question. Here's what you need to know. Read more >

Setting up a partnership LLC comes down to 4 core steps — but the requirements and costs vary depending on your state.Over 9 years of helping business owners structure and register more than 50 partnerships, I've worked through the filing process firsthand. That means choosing compliant names, drafting operating agreements that actually hold up, and avoiding the filing mistakes that send... Read more >

To add an employee to your LLC, you must secure an Employer Identification Number (EIN) and register with state labor departments for Requisite tax and insurance accounts.50% of LLCs hire employees within their first three years of operation, which is why establishing proper employment infrastructure becomes crucial for growing businesses.Subsequently, you'll establish payroll systems, handle... Read more >

When you create a Limited Liability Company (LLC), you have to decide whether to elect or appoint a president or CEO.A 2024 survey by the National Association of Self-Employed (NASE) suggests that 58% of LLCs in the US operate as member-managed.At Venture Smarter, we've guided hundreds of business owners through LLC formation and management decisions, helping them navigate the specific... Read more >

Filing your Arizona Articles of Organization is the move that makes your LLC real. It's the document that officially puts your business on the state's books — and if you get it wrong, you're looking at delays, rejections, or worse.I've helped a lot of first-time founders through this process, and I've personally tested the filing tools and services that make it easier. Here's what you... Read more >

How long it takes to form an LLC depends on your state. It also depends on how you file. Timing runs anywhere from same-day approval to six weeks out.Every figure on this page traces back to each state's Secretary of State, or the equivalent filing agency, as of this update.Online filings are often fastest. Mail filings are often slowest. A rush fee only makes sense when standard online filing is... Read more >