If you are thinking of starting a business, then this is a great step for you to take towards a new future for yourself. However, this is not an easy task to complete, and you are going to need to dedicate not just time, but a lot of money and resources into making this work. If you are not willing to do this, then you might as well quit now, because you are not going to make it on the market without this level of dedication. But, if you do have this level of determination and you are willing to commit to this venture, then you need to know exactly what you need to get your business started. Keep reading to find out some of the things that we have come up with!
Come Up With An Idea
The first thing that you are going to need is a good idea. Now, this might sound obvious, but a lot of people who are trying to start a business these days don’t think beyond their own company. You need to look at the market and figure out where there is a gap that you can slide into. If you are going to dive straight into an industry that is already crowded, then you are going to have to have an amazing strategy to get customers to choose your new business over an already established one. This is not going to be easy, which is why you are going to be better off trying to find somewhere that your company fits in easily, rather than trying to force your way in.
Having an idea is the first step to creating something great, and you need to have a solid foundation before you try to build on this. To do this, you need to make sure that you have done plenty of research on the industry you want to enter.
Get Started On A Plan
The next thing that you are going to need to do is to get started on writing a business plan. This is going to be one of the most important steps in the process because this is where you are going to figure out what’s going to happen with the finer details of your business. It is going to be your opportunity to get down the details of what you want to achieve, how you are going to do it, what your business is going to be all about, and all the other things that you need to have decided before you can start a successful company.
The sooner you manage to get started on your plan, the more time you are going to have to finalize it if you are looking to progress your business by a certain deadline. Make sure that you are setting yourself goals for things like this so that you have a time frame in mind.
Find The Funding
Something else that you are going to have to figure out is how you are going to fund your business. Before you can get up and running, you are going to need to find the correct funding that will keep you afloat. Now, there are a number of ways that you can do this, and one of them is to put the money up yourself. If you have the money spare, you are going to be able to put the money up, have full ownership of your company, and not rely on anyone else to help you out financially.
But, for many people, this is not going to be an option for them to consider, and this is where you need to look at alternatives. Finding investors for your business does not have to be too difficult, but it can take some time. One of the things that you can consider is taking your business to a trade show, where you will find plenty of people who are looking for their next business venture. Make sure that you are getting your business to stand out from everyone else that is there so that you can attract as much attention as possible. This way, you are in a better position for investors to choose your business.
Put Together A Team
You are also going to need a team that will be there to help you launch your business. You are not going to get anywhere on the market if you don’t have a team established before your business launches. A team of hardworking individuals is going to be invaluable to you and your business, which is why you want them on your side as soon as you can. They will be able to help you set up your business, and build it into a success!
Make sure that the hiring process is done thoroughly, though, because you are only going to want people to be part of your business if they are willing to put in the effort. There is no use in having people who aren’t dedicated to helping make the company the best it can be because this isn’t going to work out well.
Marketing Is Essential
Finally, you need to sort out some form of marketing for your business, or nobody is going to know about you. This needs to include social media, leaflets, setting up your own website, writing guest posts on blogs, and so many other marketing methods. Every step on this list is going to be important, but this final step is the one that could make or break the entire company. Without marketing, nobody is going to know about your business, and then you aren’t going to see any profits, and then your business could collapse. We don’t want that, and you don’t want that, so you need to make sure that you have the correct marketing strategies in place, long before the launch of your business.
We hope that you have found this article helpful, and now know what you are going to need to start your business. Follow this checklist, and you are going to have a higher chance of achieving success!
https://www.strategydriven.com/wp-content/uploads/analysis-blackboard-board-bubble-355952.jpg8341200StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2019-11-12 08:00:412019-11-12 04:13:57Finding Your Feet: Your Checklist For Starting A Business
When you’re running a factory or a warehouse area, you need everything to be like a well-oiled machine – pardon the pun. If everything is flowing correctly, then you’ll have a better chance of hitting targets and creating lots of output. You might be able to get away with a little leniency and looseness, but that will eventually catch up to you in the end.
How can you create a smooth-running operation then? Well, fortunately, there are loads of different things you can do that will affect all aspects. The environment will obviously need to be on point, for starters. You’ll also need to get the workforce firing, too – they’re pretty integral to the way the entire business performs! Here are a few specific ways you can get all these kinds of things sorted out:
Make A Plan And Stick To It
Without preparation, you’ll probably falter at some point. Some businesses like to be fluid and free-flowing when it comes to all aspects. The majority need to have more of a cautious and collected approach to things. If you know exactly who’s going to be doing what, and exactly what’s going to happen, then you’ll have a clearer view of the future.
Create a plan for the week again, but be sure to outline your vision for the upcoming months, too. The long-term is just as important as the long term.
Create A Certain Way Of Operating
This might sound a little totalitarian to some people, but having a particular set of steps might make everything a lot slicker. Sure, autonomy is nice, and nobody likes being shackled by a certain style, but it’s a great way of getting things done smoothly. If your workers have a style drilled into them, then they’ll systematically fire through their jobs with little time for stalling and overthinking.
Make Sure You Have Everything You Need
This is pretty basic, but so many businesses don’t check themselves on a regular basis. If you don’t have certain parts or the right equipment, then you’re going to struggle to get things done. At the beginning of each week, be sure to take stock. You don’t want to have everything ready, then realize you’re missing a few swivel eye bolts, or that a particular machine is malfunctioning.
Hire The Right People
We mentioned before that the team is kind of important to the productivity. Well, if you have competent, efficient, and hungry staff, then they’re going to be more motivated than most. When you have active workers, the entire system will flow better. Unmotivated and sluggish people will always bring the rest of the team down and slow everything up.
Be sure to regularly train the staff, too. They will always need a kick up the backside because they’re human. New techniques and methods regarding all aspects of work are surfacing, too, so they’ll need to be up to speed.
Safety First!
Make sure everything is completely safe and good-to-go in the workplace. If things are looking a little ropey, then that’s only going to hinder the productivity and the flow. Errors will probably be made during the day, and the staff might be on tenterhooks throughout.
https://www.strategydriven.com/wp-content/uploads/agto-nugroho-1mnXGDl3iRY-unsplash.jpg9001200StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2019-11-12 07:00:002019-11-12 03:55:10How To Ensure Your Factory Floor Is Running Smoothly
It’s impossible nowadays to launch your online presence without considering the importance of SEO – Search Engine Optimization – in your business growth. Indeed, mastering the art of boosting your SERP ranking — aka your ranking in the search engine result pages – can substantially influence web traffic. Search engines such as Google and Bing prefer content-rich sites that diversify their content and update it regularly to reflect on current trends.
Ideally, blogs are one of the most effective tools when it comes to creating keyword-targeted content.
Content, as a result, is the key to your SEO strategy and, by extension, your digital visibility. Creating new and informative content has become a major marketing strategy for any business trying to leverage their online presence. It’s not uncommon, as a result, to design a content plan that addresses major primary, secondary, and long-tail keywords to maintain your presence in a constantly changing market. However, you’d be wrong to assume that content only matters to support your SEO strategy. Content, as it happens, is a crucial factor of growth for your entire business. Here’s everything content can transform that isn’t SEO-related.
It establishes your reputation
While your products are your main offering, your content is the closest your audience can get to understand your brand. Therefore, ensuring you push your content online, not only on your website but also on social media platforms can help to build your brand reputation. Indeed, your audience uses online platforms such as Twitter and Facebook to interact with businesses – it’s the favorite channel when it comes to customer care inquiries and complaints. As a result, it’s fair to say that your social media posts are considered with great interest. Not only can you engage in direct interactions with your audience, but you can also launch a campaign to share your latest updates. Your choice of hashtags is detrimental to reaching out to a broad audience and establishing your reputation. Additionally, your attitude and behavior on social media are public, which means that the way you choose to share content online can affect your brand image too.
It generates passive income
If you’re an established blogger or digital influencer, you understand that content is money. Indeed, a youtube affiliate, for instance, use their content creation as part of their traffic strategy. Creating videos that appeal to a broad audience can maximize their channel subscriptions – aka the number of active and loyal followers – and views. It’s important to understand that users don’t need to follow a channel to watch its content. The affiliate network can share both the subscription volume and viewer number with businesses that are looking for advertising partners. The collaboration typically defines the affiliate earning by considering the total number of views each video receives. Therefore, building an informative and popular portal of content can indirectly create a stream of passive income through affiliate activities.
It showcases your expertise
Very few experts can claim they don’t worry about competition in their niche. Showcasing your expertise when you’re one of many other market players can be challenging. While success stories and portfolios can help to display your skills, they may not be enough. Ultimately, nothing seems more suspicious of potential leads than reading testimonials from your past clients. What evidence is there that those clients are real or that you’re as good as they say you are? None and as such, most digitally-savvy users tend to ignore testimonials – these are, after all, very easy to fake. However, you can publish your opinions, tips, and case studies online to attract your audience. Guest articles on a popular blog, for instance, are an ideal ice-breaker to reach out to a new audience. You can even consider creating tutorials or online courses to share your knowledge.
It gives your website depth
Sure, you might have a responsive web design, but what good does it do if you don’t have enough content? For a web visitor, reaching a site that feels content-light or that hasn’t been updated with new content leaves a poor impression. Most visitors judge your business by your site. If you don’t provide enough informative background – about the business and its expertise – people tend to be reluctant to purchase. Your content gives an additional dimension to your company, turning the online presence into a professional and trustworthy organization.
Content is at the heart of your business growth. It builds your online visibility through SEO ranking, but that’s not all it does. High-quality content can help to establish your brand and showcase your expertise. Additionally, you can use your content to support your affiliate marketing income. Finally, content brings trustworthiness to your online presence.
https://www.strategydriven.com/wp-content/uploads/blog-blogger-blogging-cup-4458.jpg8091200StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2019-11-11 19:00:452019-11-12 00:16:08Outside Of SEO, Why Is Your Content Gold?
What does a server do? You could be wondering about how to set up a server and how is it suitable for your small business needs.
Implementing the use of servers could be the ideal strategy for the growth of your business.
Read along to learn about servers and how to decide if this technology is right for you.
What Does a Server Do?
A server is a computer program that stores and retrieves data. It transmits computer files and data to multiple computers on a network.
In other words, a server serves information to computers that are connected to it. These computers are known as clients.
How can you establish a connection to a server? Generally, businesses use clients to connect to a server using a local area network or through the worldwide network of the Internet.
Why Do You Need One?
Instead of storing your files on a disk, you can use a server, which is right for the functionality and productivity of your business.
Before you choose a server, think about your business goals and the benefits you need. There are various server types such as application servers, mail servers, virtual servers, and more.
Introducing a server to your business may help to improve the way your employees perform their daily tasks.
Servers Protect Your Business
A common reason to use a server is that it is reliable and keeps your information secure. This is essential if you use various types of devices for your business.
You don’t have to worry about hackers stealing your information when you’re using powerful dedicated servers that protect your business data.
With the installation of firewall software, you can monitor your incoming and outgoing traffic. This is an effective way for you to stay track of malicious activity and to block hackers.
To protect your business from vulnerabilities, you need to perform regular updates for your firewall software.
It Prevents Data Loss
If you’re not in the habit of backing up your computer devices, you’re at high risk of losing your data.
Data loss can also slow down the progression of your business. That is why it is beneficial for you to prevent this problem by using a server.
In the event of a hard drive accident, your small business server can backup and restore your files, folders, and databases that are on your network.
Having a backup server reduces the time it takes for you to recover from a hard drive disaster.
File Sharing and Network Security
File access is a critical role for a file server. You have the option to store your business documents, share documents, and you can also authorize certain individuals to read documents.
A file server saves you time and effort. It makes the process easy for you to manage your file access from one system.
Use a Server to Operate Your Business with Ease
Nowadays, businesses are making use of the latest technologies to increase their operations.
With stiff competition in various business sectors, you can stand apart from your competition using servers.
If you enjoyed reading this article about what does a server do, visit our website to learn more strategies for your business.
https://www.strategydriven.com/wp-content/uploads/2019-11-11_2227.png7461200StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2019-11-11 17:00:372019-11-11 15:30:31What Does a Server Do and Why Does Your Small Business Need One?
Easily one of the most daunting parts of being an entrepreneur, tax season can be complicated if you’ve never been exposed to doing business taxes before.
In this article, we’ll explore how LLC taxation works, so as an LLC owner, you neither overpay nor underpay the government.
Before We Discuss LLC Taxation
Before we get into the nitty-gritty details of LLC taxation, it’s important to first understand what an LLC is.
A Limited Liability Company is one of the simplest ways for a new employee to structure their business and have it recognized as a commercial entity in the government’s eyes. The requirements to form an LLC are low, making it the path of least resistance for budding entrepreneurship to achieve legal status.
Forming LLC (through an attorney or online service) enables owners to protect themselves with limitations of the risk their personal assets face, should something untoward happen with the company. In addition, starting fees are relatively small (less than $200 in most states).
The principal benefit of LLCs, however, lies in the discussion of LLC taxes. LLC’s are single taxation entities, meaning that unlike corporations, the income can only be taxed at one level (business or personal income).
How is an LLC Taxed?
The answer to this question technically depends on how the company is structured. If the company is structured as a collection of multiple partners, then the LLC’s income is taxed only at the personal income level.
That means that each of the shareholders in the LLC report income from the LLC as their personal income, and they file individual tax returns. No additional forms have to be completed for the LLC itself.
However, if the LLC is structured as a C corp or S corp, which it can elect to do after it’s created, then it will be required to submit additional documentation. The IRS Form 8832 is used for the LLC to elect to submit taxes as either a C corp or an S corp. The documentation submitted thereafter will determine what additional forms the LLC uses to be taxed (Form 2553 for an S corp and Form 1120 for a C corp).
Without corporation status, the LLC’s income is classified as “pass-through” which means that it just goes into each owner’s personal income return.
Do LLC’s Pay State Income Tax?
Some states require that LLC’s pay income tax at the state level. This is fairly common, and will often take the form of a franchise fee.
The franchise fee is an annual fee submitted whenever the LLC submits its annual report. The annual report contains information regarding total revenues, total operational expenditures, philanthropic expenditures, etc..
Most states will use the federal tax liability as a starting point for their own tax determination. Look up your individual state’s LLC tax law to figure out how much you’ll be liable for this April.
Don’t Mess Up Your Taxes!
Few things can kill a growing company’s momentum than falling on the wrong side of the IRS. Take the right steps to ensure that you’re completing your LLC taxation correctly — look up state laws, fill out the right forms, and consider calling a professional if you need help.
Once you’ve gotten through this tax season, make sure to come back and subscribe for more small business advice!
https://www.strategydriven.com/wp-content/uploads/2019-11-11_2216.png8211200StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2019-11-11 16:00:112021-08-03 10:35:09How Is an LLC Taxed?
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Business Programs
Finding Your Feet: Your Checklist For Starting A Business
/in Starting Your Business/by StrategyDrivenCome Up With An Idea
The first thing that you are going to need is a good idea. Now, this might sound obvious, but a lot of people who are trying to start a business these days don’t think beyond their own company. You need to look at the market and figure out where there is a gap that you can slide into. If you are going to dive straight into an industry that is already crowded, then you are going to have to have an amazing strategy to get customers to choose your new business over an already established one. This is not going to be easy, which is why you are going to be better off trying to find somewhere that your company fits in easily, rather than trying to force your way in.
Having an idea is the first step to creating something great, and you need to have a solid foundation before you try to build on this. To do this, you need to make sure that you have done plenty of research on the industry you want to enter.
Get Started On A Plan
The next thing that you are going to need to do is to get started on writing a business plan. This is going to be one of the most important steps in the process because this is where you are going to figure out what’s going to happen with the finer details of your business. It is going to be your opportunity to get down the details of what you want to achieve, how you are going to do it, what your business is going to be all about, and all the other things that you need to have decided before you can start a successful company.
The sooner you manage to get started on your plan, the more time you are going to have to finalize it if you are looking to progress your business by a certain deadline. Make sure that you are setting yourself goals for things like this so that you have a time frame in mind.
Something else that you are going to have to figure out is how you are going to fund your business. Before you can get up and running, you are going to need to find the correct funding that will keep you afloat. Now, there are a number of ways that you can do this, and one of them is to put the money up yourself. If you have the money spare, you are going to be able to put the money up, have full ownership of your company, and not rely on anyone else to help you out financially.
But, for many people, this is not going to be an option for them to consider, and this is where you need to look at alternatives. Finding investors for your business does not have to be too difficult, but it can take some time. One of the things that you can consider is taking your business to a trade show, where you will find plenty of people who are looking for their next business venture. Make sure that you are getting your business to stand out from everyone else that is there so that you can attract as much attention as possible. This way, you are in a better position for investors to choose your business.
Put Together A Team
You are also going to need a team that will be there to help you launch your business. You are not going to get anywhere on the market if you don’t have a team established before your business launches. A team of hardworking individuals is going to be invaluable to you and your business, which is why you want them on your side as soon as you can. They will be able to help you set up your business, and build it into a success!
Make sure that the hiring process is done thoroughly, though, because you are only going to want people to be part of your business if they are willing to put in the effort. There is no use in having people who aren’t dedicated to helping make the company the best it can be because this isn’t going to work out well.
Marketing Is Essential
Finally, you need to sort out some form of marketing for your business, or nobody is going to know about you. This needs to include social media, leaflets, setting up your own website, writing guest posts on blogs, and so many other marketing methods. Every step on this list is going to be important, but this final step is the one that could make or break the entire company. Without marketing, nobody is going to know about your business, and then you aren’t going to see any profits, and then your business could collapse. We don’t want that, and you don’t want that, so you need to make sure that you have the correct marketing strategies in place, long before the launch of your business.
We hope that you have found this article helpful, and now know what you are going to need to start your business. Follow this checklist, and you are going to have a higher chance of achieving success!
How To Ensure Your Factory Floor Is Running Smoothly
/in Tactical Execution/by StrategyDrivenHow can you create a smooth-running operation then? Well, fortunately, there are loads of different things you can do that will affect all aspects. The environment will obviously need to be on point, for starters. You’ll also need to get the workforce firing, too – they’re pretty integral to the way the entire business performs! Here are a few specific ways you can get all these kinds of things sorted out:
Make A Plan And Stick To It
Without preparation, you’ll probably falter at some point. Some businesses like to be fluid and free-flowing when it comes to all aspects. The majority need to have more of a cautious and collected approach to things. If you know exactly who’s going to be doing what, and exactly what’s going to happen, then you’ll have a clearer view of the future.
Create a plan for the week again, but be sure to outline your vision for the upcoming months, too. The long-term is just as important as the long term.
Create A Certain Way Of Operating
This might sound a little totalitarian to some people, but having a particular set of steps might make everything a lot slicker. Sure, autonomy is nice, and nobody likes being shackled by a certain style, but it’s a great way of getting things done smoothly. If your workers have a style drilled into them, then they’ll systematically fire through their jobs with little time for stalling and overthinking.
Make Sure You Have Everything You Need
This is pretty basic, but so many businesses don’t check themselves on a regular basis. If you don’t have certain parts or the right equipment, then you’re going to struggle to get things done. At the beginning of each week, be sure to take stock. You don’t want to have everything ready, then realize you’re missing a few swivel eye bolts, or that a particular machine is malfunctioning.
Hire The Right People
We mentioned before that the team is kind of important to the productivity. Well, if you have competent, efficient, and hungry staff, then they’re going to be more motivated than most. When you have active workers, the entire system will flow better. Unmotivated and sluggish people will always bring the rest of the team down and slow everything up.
Be sure to regularly train the staff, too. They will always need a kick up the backside because they’re human. New techniques and methods regarding all aspects of work are surfacing, too, so they’ll need to be up to speed.
Safety First!
Make sure everything is completely safe and good-to-go in the workplace. If things are looking a little ropey, then that’s only going to hinder the productivity and the flow. Errors will probably be made during the day, and the staff might be on tenterhooks throughout.
Outside Of SEO, Why Is Your Content Gold?
/in Online Marketing and Website Development/by StrategyDrivenIdeally, blogs are one of the most effective tools when it comes to creating keyword-targeted content.
Content, as a result, is the key to your SEO strategy and, by extension, your digital visibility. Creating new and informative content has become a major marketing strategy for any business trying to leverage their online presence. It’s not uncommon, as a result, to design a content plan that addresses major primary, secondary, and long-tail keywords to maintain your presence in a constantly changing market. However, you’d be wrong to assume that content only matters to support your SEO strategy. Content, as it happens, is a crucial factor of growth for your entire business. Here’s everything content can transform that isn’t SEO-related.
It establishes your reputation
While your products are your main offering, your content is the closest your audience can get to understand your brand. Therefore, ensuring you push your content online, not only on your website but also on social media platforms can help to build your brand reputation. Indeed, your audience uses online platforms such as Twitter and Facebook to interact with businesses – it’s the favorite channel when it comes to customer care inquiries and complaints. As a result, it’s fair to say that your social media posts are considered with great interest. Not only can you engage in direct interactions with your audience, but you can also launch a campaign to share your latest updates. Your choice of hashtags is detrimental to reaching out to a broad audience and establishing your reputation. Additionally, your attitude and behavior on social media are public, which means that the way you choose to share content online can affect your brand image too.
It generates passive income
If you’re an established blogger or digital influencer, you understand that content is money. Indeed, a youtube affiliate, for instance, use their content creation as part of their traffic strategy. Creating videos that appeal to a broad audience can maximize their channel subscriptions – aka the number of active and loyal followers – and views. It’s important to understand that users don’t need to follow a channel to watch its content. The affiliate network can share both the subscription volume and viewer number with businesses that are looking for advertising partners. The collaboration typically defines the affiliate earning by considering the total number of views each video receives. Therefore, building an informative and popular portal of content can indirectly create a stream of passive income through affiliate activities.
It showcases your expertise
Very few experts can claim they don’t worry about competition in their niche. Showcasing your expertise when you’re one of many other market players can be challenging. While success stories and portfolios can help to display your skills, they may not be enough. Ultimately, nothing seems more suspicious of potential leads than reading testimonials from your past clients. What evidence is there that those clients are real or that you’re as good as they say you are? None and as such, most digitally-savvy users tend to ignore testimonials – these are, after all, very easy to fake. However, you can publish your opinions, tips, and case studies online to attract your audience. Guest articles on a popular blog, for instance, are an ideal ice-breaker to reach out to a new audience. You can even consider creating tutorials or online courses to share your knowledge.
It gives your website depth
Sure, you might have a responsive web design, but what good does it do if you don’t have enough content? For a web visitor, reaching a site that feels content-light or that hasn’t been updated with new content leaves a poor impression. Most visitors judge your business by your site. If you don’t provide enough informative background – about the business and its expertise – people tend to be reluctant to purchase. Your content gives an additional dimension to your company, turning the online presence into a professional and trustworthy organization.
Content is at the heart of your business growth. It builds your online visibility through SEO ranking, but that’s not all it does. High-quality content can help to establish your brand and showcase your expertise. Additionally, you can use your content to support your affiliate marketing income. Finally, content brings trustworthiness to your online presence.
What Does a Server Do and Why Does Your Small Business Need One?
/in Managing Your Business/by StrategyDrivenImplementing the use of servers could be the ideal strategy for the growth of your business.
Read along to learn about servers and how to decide if this technology is right for you.
What Does a Server Do?
A server is a computer program that stores and retrieves data. It transmits computer files and data to multiple computers on a network.
In other words, a server serves information to computers that are connected to it. These computers are known as clients.
How can you establish a connection to a server? Generally, businesses use clients to connect to a server using a local area network or through the worldwide network of the Internet.
Why Do You Need One?
Instead of storing your files on a disk, you can use a server, which is right for the functionality and productivity of your business.
Before you choose a server, think about your business goals and the benefits you need. There are various server types such as application servers, mail servers, virtual servers, and more.
Introducing a server to your business may help to improve the way your employees perform their daily tasks.
Servers Protect Your Business
A common reason to use a server is that it is reliable and keeps your information secure. This is essential if you use various types of devices for your business.
You don’t have to worry about hackers stealing your information when you’re using powerful dedicated servers that protect your business data.
With the installation of firewall software, you can monitor your incoming and outgoing traffic. This is an effective way for you to stay track of malicious activity and to block hackers.
To protect your business from vulnerabilities, you need to perform regular updates for your firewall software.
It Prevents Data Loss
If you’re not in the habit of backing up your computer devices, you’re at high risk of losing your data.
Data loss can also slow down the progression of your business. That is why it is beneficial for you to prevent this problem by using a server.
In the event of a hard drive accident, your small business server can backup and restore your files, folders, and databases that are on your network.
Having a backup server reduces the time it takes for you to recover from a hard drive disaster.
File Sharing and Network Security
File access is a critical role for a file server. You have the option to store your business documents, share documents, and you can also authorize certain individuals to read documents.
A file server saves you time and effort. It makes the process easy for you to manage your file access from one system.
Use a Server to Operate Your Business with Ease
Nowadays, businesses are making use of the latest technologies to increase their operations.
With stiff competition in various business sectors, you can stand apart from your competition using servers.
If you enjoyed reading this article about what does a server do, visit our website to learn more strategies for your business.
How Is an LLC Taxed?
/in Managing Your Finances/by StrategyDrivenIn this article, we’ll explore how LLC taxation works, so as an LLC owner, you neither overpay nor underpay the government.
Before We Discuss LLC Taxation
Before we get into the nitty-gritty details of LLC taxation, it’s important to first understand what an LLC is.
A Limited Liability Company is one of the simplest ways for a new employee to structure their business and have it recognized as a commercial entity in the government’s eyes. The requirements to form an LLC are low, making it the path of least resistance for budding entrepreneurship to achieve legal status.
Forming LLC (through an attorney or online service) enables owners to protect themselves with limitations of the risk their personal assets face, should something untoward happen with the company. In addition, starting fees are relatively small (less than $200 in most states).
The principal benefit of LLCs, however, lies in the discussion of LLC taxes. LLC’s are single taxation entities, meaning that unlike corporations, the income can only be taxed at one level (business or personal income).
How is an LLC Taxed?
The answer to this question technically depends on how the company is structured. If the company is structured as a collection of multiple partners, then the LLC’s income is taxed only at the personal income level.
That means that each of the shareholders in the LLC report income from the LLC as their personal income, and they file individual tax returns. No additional forms have to be completed for the LLC itself.
However, if the LLC is structured as a C corp or S corp, which it can elect to do after it’s created, then it will be required to submit additional documentation. The IRS Form 8832 is used for the LLC to elect to submit taxes as either a C corp or an S corp. The documentation submitted thereafter will determine what additional forms the LLC uses to be taxed (Form 2553 for an S corp and Form 1120 for a C corp).
Without corporation status, the LLC’s income is classified as “pass-through” which means that it just goes into each owner’s personal income return.
Do LLC’s Pay State Income Tax?
Some states require that LLC’s pay income tax at the state level. This is fairly common, and will often take the form of a franchise fee.
The franchise fee is an annual fee submitted whenever the LLC submits its annual report. The annual report contains information regarding total revenues, total operational expenditures, philanthropic expenditures, etc..
Most states will use the federal tax liability as a starting point for their own tax determination. Look up your individual state’s LLC tax law to figure out how much you’ll be liable for this April.
Don’t Mess Up Your Taxes!
Few things can kill a growing company’s momentum than falling on the wrong side of the IRS. Take the right steps to ensure that you’re completing your LLC taxation correctly — look up state laws, fill out the right forms, and consider calling a professional if you need help.
Once you’ve gotten through this tax season, make sure to come back and subscribe for more small business advice!