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72. It's Time to Start Your Own Business!

Start your own business!

Starting your own business is one of the most powerful ways to take control of your life and make extra money.

As the saying goes “Choose a job you love, and you’ll never have to work a day in your life.”

Here are many reasons that motivate people to start their own business:

  • You can earn more money

  • You will have financial independence because you and only you manage your finances

  • This is an opportunity to invest in yourself (you run the risk, but you also get a reward)

  • Only you establish the rules for the conduct of your business

  • You can finally do your favorite things or things you know very well

  • You create your own team (or work solo)

  • You can become a mentor or train your employees to your needs

  • You can also acquire new skills and open new departments of business

  • You can delegate boring duties (and deal exclusively with the development of your company)

  • There will be challenges every day (but this is life)

  • You can improve your industry in your own way

  • You can work wherever you want

  • You can create your own brand

  • Own business is practically an unlimited field for development

If you’re self-employed, it may be time to consider incorporating your business. Time and time again, we see self-employed clients save significant sums of money as soon as they incorporate – and February is a great month to do it.

It’s best to incorporate your business at the beginning of the tax year because you have the entire year to make money under the corporation.

When you incorporate, you save money, cut personal liability, and create a solid foundation on which your business can thrive.


What about TAX Benefits?

Here is the shortlist of TAX Benefits that you can use making the decision to run your own business:

  • Deduct a portion of your home’s expenses (mortgage interest, property taxes, utilities, repairs and maintenance, business income)

  • Auto Expenses

  • Advertising and Promotion (websites, business cards, yellow page ads)

  • Sponsoring (promo costs that create business goodwill)

  • Insurance (medical, fire, flood, theft, etc.)

  • Travel (the cost of the plane, meals, telephone calls, tips, etc.)

  • Equipment

  • Interest (if you use credit to finance business purchases, the interest and carrying charges are fully tax-deductible)

  • Education Expenses (if they are related to your current business)

How to start:

  1. Tell us about your business. We complete the form in 10 minutes

  2. Then we prepare all documents and sending directly to the Secretary of State.

Checklist for New Corporation:

  1. Decide on a corporate name (choose several names businessman, we should be sure your name is unique)

  2. Address in the State. We also provide an address in the State of Illinois (some businesses need it)

  3. Your Name, Last name, and valid SSN

  4. Fee (it depends on State)

When your corporation’s documents have been approved by the Secretary of State, we’ll send a corporation package by mail.

Congratulations! You are a businessman/woman.

Also, you must know. Some businesses must get the right business licenses & permits.

Call our office today to set up an appointment about incorporating your business – once you take your business to the next level, your tax professional will be your best friend!

Contacts us to set up an appointment if you have any questions:

United States Tax Services: Tax Preparation, Payroll, Accounting, Tax Planning

Call us at (800) 913-0809 or send an SMS at (224) 676-3577 if you have any questions.

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