Sole Proprietorship: Small Business Start-up Kit

by Sitarz, Daniel

• ISBN13: 9781892949080
• ISBN10: 1892949083
• Edition: 2nd
• Format: Paperback
• Copyright: 2005-11-30
• Publisher: Nova Pub Co

Summary

Everything that is needed to set up a small business sole proprietorship is contained in this valuable reference. State-by-State rules for sole proprietorship are included in the appendix.

Table of Contents

List of Forms-on-CD	p. 9
Preface	p. 11
Introduction	p. 12
How to Use This Book	p. 12
Deciding to Start Business As a Sole Proprietorship	p. 14
Sole Proprietorship	p. 14
Partnership	p. 16
Limited Liability Company	p. 19
Corporations	p. 20
C-Corporation	p. 21
S-Corporation	p. 23
Business Start-up Checklist	p. 24
Developing a Business Plan	p. 26
Business Plan Worksheet	p. 27
Preparing Your Business Plan	p. 34
Preparing Your Executive Summary	p. 35
Sample Executive Summary	p. 36
Compiling Your Business Plan	p. 38
Developing a Marketing Plan	p. 40
Business Marketing Worksheet	p. 41
Developing a Financial Plan	p. 45
Business Financial Worksheet	p. 46
Preparing a Profit and Loss Statement	p. 49
Estimated Profit and Loss Statement	p. 51
Preparing a Balance Sheet	p. 53
Current Balance Sheet	p. 55
Operating a Sole Proprietorship	p. 56
Formation of a Sole Proprietorship	p. 56
Sole Proprietorship Property	p. 57
Sole Proprietorship Liability	p. 57
Sole Proprietorship Books and Records	p. 58
Sole Proprietorship Paperwork	p. 59
Pre-Start-up Activities	p. 61
Pre-Start-up Worksheet	p. 63
Pre-Start-up Checklist	p. 65
Sole Proprietorship Plan	p. 66
Sole Proprietorship Plan Checklist	p. 67
Sample Sole Proprietorship Plan	p. 71
Registration of Sole Proprietorship Name	p. 72
Statement of Intention to Conduct Business Under an Assumed or Fictitious Name	p. 74
Employee Documents	p. 75
General Employment Contract	p. 77
Independent Contractor Agreement	p. 79
Contractor/Subcontractor Agreement	p. 81
Business Financial Recordkeeping	p. 83
Understanding Financial Records	p. 84
The Balance Sheet	p. 85
The Profit and Loss Statement	p. 87
Accounting Methods	p. 89
Accounting Systems	p. 90
Accounting Periods	p. 90
Financial Recordkeeping Checklist	p. 92
Business Accounts	p. 93
Income Accounts	p. 95
Expense Accounts	p. 97
Asset and Liability Accounts	p. 99
Chart of Accounts	p. 101
Tracking Business Assets	p. 103
Current Assets	p. 103
Inventory	p. 106
Physical Inventory Report	p. 107
Periodic Inventory Record	p. 109
Cost of Goods Sold Report	p. 111
Fixed Assets	p. 113
Fixed Asset Account	p. 116
Tracking Business Debts	p. 118
Accounts Payable Record	p. 119
Long Term Debt Record	p. 121
Tracking Business Expenses	p. 123
Weekly Expense Record	p. 124
Monthly Expense Summary	p. 126
Annual Expense Summary	p. 128
Tracking Business Income	p. 130
Tracking Cash	p. 131
Weekly Cash Report	p. 131
Monthly Cash Report Summary	p. 133
Tracking Income	p. 135
Weekly Income Record	p. 135
Monthly Income Summary	p. 137
Annual Income Summary	p. 139
Tracking Credit Sales	p. 141
Monthly Credit Sales Record	p. 141
Credit Sales Aging Report	p. 143
Invoices and Statements	p. 145
Statement and Past Due Statement	p. 147
Credit Memo	p. 150
Business Payroll	p. 152
Setting Up Your Payroll	p. 152
Quarterly Payroll Time Sheet	p. 154
Employee Payroll Record	p. 156
Payroll Depository Record	p. 158
Annual Payroll Summary	p. 160
Payroll Checklist	p. 162
Taxation of Sole Proprietorships	p. 163
Sole Proprietorship Tax Forms Checklist	p. 164
Sole Proprietorship Tax Schedules	p. 165
IRS Form SS-4: Application for Employer Identification Number	p. 167
IRS Form 940: Employer's Annual Federal Unemployment Tax Return	p. 169
IRS Form 940-EZ: Employer's Annual Federal Unemployment Tax Return	p. 171
IRS Form 941: Employer's Quarterly Federal Tax Return	p. 173
IRS Form W-2: Wage and Tax Statement	p. 175
IRS Form W-3: Transmittal of Wage and Tax Statements	p. 177
IRS Form W-4: Employee's Withholding Allowance Certificate	p. 179
IRS Form 1040-SE: Self-Employment Tax	p. 181
IRS Schedule C: Profit or Loss from Business	p. 187
IRS Schedule C-EZ: Net Profit from Business	p. 199
IRS Form 8829: Expenses for Business Use of Your Home	p. 200
Additional Legal Forms	p. 205
Contract	p. 206
Extension of Contract	p. 207
Modification of Contract	p. 208
Termination of Contract	p. 209
Assignment of Contract	p. 210
Consent to Assignment of Contract	p. 211
Notice of Assignment of Contract	p. 212
Notice of Breach of Contract	p. 213
General Release	p. 214
Mutual Release	p. 215
Specific Release	p. 216
Release of Mechanic's Lien	p. 217
Receipt in Full	p. 220
Receipt on Account	p. 220
Receipt for Goods	p. 220
Commercial Lease	p. 221
Assignment of Lease	p. 224
Consent to Assignment of Lease	p. 225
Notice of Assignment of Lease	p. 226
Amendment of Lease	p. 227
Extension of Lease	p. 228
Sublease	p. 229
Consent to Sublease	p. 231
Notice of Breach of Lease	p. 232
Landlord's Notice to Terminate Lease	p. 233
Personal Property Rental Agreement (Simple)	p. 234
Personal Property Rental Agreement (Complex)	p. 235
Contract for Sale of Personal Property	p. 237
Bill of Sale, with Warranties	p. 238
Bill of Sale, without Warranties	p. 239
Bill of Sale, Subject to Debt	p. 240
Contract for Sale of Real Estate	p. 241
Option to Buy Real Estate Agreement	p. 243
Quitclaim Deed	p. 245
Warranty Deed	p. 246
State Business Name Registration Information	p. 247
Glossary of Business, Legal, and Accounting Terms	p. 274
Index	p. 282
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