Selecting Your Business Structure
In This Chapter
- Deciding on a business structure
- Dealing with money
- Cash versus accrual basis accounting
- The importance of a tax ID number
- Crafting a business plan
Every business initially started out as an idea. From your local coffee shop to the “too-big-to-fail” Wall Street financial institutions, at some point, someone had the idea to launch that business. Just as everyone’s life follows a different trajectory, every business follows a different path. Because a business is much more complicated, it needs some sort of structure.
When you see a flourishing business, you think about the product or ...