Running a Web Design Business: Defining Your Business Structure
Video: WelcomeLearn which business structure (sole proprietorship, partnership, corporation, or LLC) is right for your web design business, and find out how it impacts licensing and permitting processes, taxes, and recordkeeping.
Sole proprietorship, general partnership, corporation, or LLC? Choosing a business structure is one of the tougher decisions web designers face when establishing a new company. In this course, entrepreneur Martha Garzon walks you through the advantages and disadvantages of each business model, and helps you decide which one is right for you. You'll also take a deep dive into two key business structures–sole proprietorship and LLC—to see how they affect licensing and permitting processes, taxes, and recordkeeping for a hypothetical web design business. This practical information will help you clear early legal and financial hurdles, and help make sure your business hits the ground running.
- Understanding your business-structure options
- Choosing your business structure using five key questions
- Establishing business names and fictitious business names
- Obtaining local licenses and permits
- Applying for city/county tax receipts
- Opening a business bank account
- Understanding state and federal taxes
Hi. I'm Martha Garzon, and I would like to welcome you to Running a Web Design Business: Defining Your Business Structure. If you're ready to start your own web design business, I'm sure you have many questions in your mind. We'll start by clarifying the advantages and disadvantages of sole proprietorships, partnerships, corporations, and LLCs. Then, we'll explore the key questions that will help you select the business structure best suited to your needs.
Next, I'll show you practical examples of a web designed business tax as a sole proprietorship and as an LLC. Finally, I'll help you understand the legal and tax requirements of a sole proprietorship and a LLC and walk you through the steps of setting up these business structures. This course gets you comfortable with the basic concepts so that when you seek professional help you'll know what to expect and what questions to ask.
So, are you ready to become a successful designer and business owner? Let's get started with Running a Web Design Business, Defining Your Business Structure
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