Public Service Announcement: Time is money and reading this guide will save you both.
If you’re paying state income tax, or don’t own your company anonymously (yes, this is possible), then you’re already making rookie mistakes. Entrepreneurs face far too many options when forming a company. They erroneously delay incorporating and when they do, they simply form their company in their home state as if it is the only option. It’s not, and just going along with business as usual can easily cost hundreds to thousands per year.
Here are the WORST MISTAKES many online businesses make:
Exposing Your Identity
The digital age has made it far too easy for people to get far too much information on you and your company. Many states allow anonymous ownership of companies. Only the company that helps form your LLC will know who you are. This is useful for nosy neighbors, pesky family and online trolls. If you’re allowed to, and big businesses do it all the time, why aren’t you?
Incorporating in Your Home State
This is a common business mistake. People think, I live here so I must form my business here. Or at the very least it’s just simpler to do it here — there are 49 other states and researching the most cost effective states to incorporate in is just… more work. Well, it’s not. Strategic firms already know the best states to incorporate in and will do the work for you.
Chances are, your site is hosted on a server located… where exactly? That’s right, it doesn’t really matter. Second, your job site is not tied to a location and your customers come from everywhere.
Wyoming will allow you to incorporate online, instantly. Everything can be handled online, just like your company. There are even law firms that will take care of everything for $199 TOTAL.
Paying State Taxes
If you have an online company that’s making money, and you haven’t incorporated in one of the four states without corporate taxes, then you are paying too much in taxes.
Where your online company is formed determines its corporate taxes. Did you pay more than $199 in state taxes last year? If so, using our incorporation package will save you money… not to mention the additional benefits we are about to mention.