Name you LLC. Choosing a company name is a crucial step for the branding strategy. Be sure to choose a name that complies that will convey the nature of the business.
1. Naming guidelines:
Your name must include the phrase “limited liability company” or one of its abbreviations (LLC or L.L.C.).
Your name cannot include words that could confuse your LLC with a government agency (FBI, Treasury, State Department, etc.).
Restricted words (e.g. Bank, Attorney, University) may require additional paperwork and a licensed individual, such as a doctor or lawyer, to be part of your LLC.
2. Make sure the name is available. Make sure the name you want isn’t already taken.
3. Find a URL that works for the name. You can use companies like A2 hosting to find and buy the domain that works for you. https://www.a2hosting.com/domains
Get an EIN
Get an Employer Identification Number (EIN), or Federal Tax Identification Number, is used to identify a business entity. It is essentially a social security number for the company.
Why do I need an EIN? An EIN is required for the following:
-To open a business bank account for the company
-For Federal and State tax purposes
-To hire employees for the company
Where do I get an EIN? An EIN is obtained from the IRS (free of charge) by the business owner after forming the company. This can be done online or by mail.
You can get an EIN at: https://sa.www4.irs.gov/modiein/individual/index.jsp
Get a BUSINESS BANKING account
Employing a business banking and credit accounts is essential for a business.
Opening a business bank account:
- Separates your personal assets from your company’s assets, which is necessary for personal asset protection.
- Makes accounting and tax filing easier.
Get insurance and accounting.
Business insurance helps you manage risks and focus on growing your business. The most common types of business insurance are: General Liability Insurance or Professional Liability Insurance.
Next you want to get accounting handled.
You can do it on your own or find a company accountant.
An accountant will track your business finances, including bills, expenses, and income. They will Simplify your annual tax filings.
You can also get software like QuickBooks to make accounting easier.