Starting and Operating a Business in the U. S.

by Jenkins, Michael D.; Abrams, Rhonda

• ISBN13: 9780966963519
• ISBN10: 0966963512
• Edition: CD
• Format: Paperback
• Copyright: 1999-12-01
• Publisher: Ingram Pub Services

Summary

Provides clear, concise information on laws regarding starting a business in any state, tax responsibilities in your state, how to reduce your taxes, and what you need to know about accounting and cash-flow management. Softcover. CD-ROM included.

Table of Contents

Foreword	iii
Rhonda Abrams
How to Use the CD-ROM	vii
Part I Starting Your Business
Deciding to Go into Business
Advantages and Disadvantages of Owning a Business	2	(1)
Characteristics of the Successful Entrepreneur	3	(2)
Know the Business	5	(1)
Know Your Market	6	(2)
Know How Much Money You Need To Succeed	8	(1)
Finding the Best Location	9	(1)
Will You Hire Employees?	10	(2)
How Likely Are You to Succeed?	12	(19)
Choosing the Legal Form of the Business
General Considerations	31	(1)
Advantages and Disadvantages of Sole Proprietorships	32	(2)
Advantages and Disadvantages of Partnerships	34	(5)
Advantages and Disadvantages of C Corporations	39	(4)
Advantages and Disadvantages of S Corporations	43	(5)
Advantages and Disadvantages of Limited Liability Companies	48	(3)
Should You Incorporate Outside Your Home State?	51	(11)
Buying an Existing Business
Finding a Business for Sale	62	(1)
What to Look for Before You Leap	63	(4)
Should You Consider a Franchise Operation?	67	(1)
Negotiating the Purchase	68	(3)
Closing the Deal	71	(10)
Selecting the Right Location
Location, Location, Location	81	(1)
Steps in Selecting a Site for a Retail Business	82	(4)
Site Selection Factors for a Non-Retail Business	86	(5)
Part II Operating Your Business
A Trip through the Red Tape Jungle: Requirements That Apply to Nearly All New Businesses
Choosing a Name for the Business	91	(1)
Local Business Licenses	92	(1)
State Licenses	93	(1)
Federal Licenses	93	(1)
Estimated Income Taxes	94	(1)
Miscellaneous Tax Information Returns	95	(3)
Sales and Use Taxes and Permits	98	(1)
Property Taxes	98	(2)
Using a Fictitious or Assumed Business Name	100	(1)
Insurance---A Practical Necessity for Businesses	101	(1)
Securities Laws	102	(4)
Requirements Specific to the Legal Form of the Business	106	(10)
The Thicket Thickens: Additional Requirements for Businesses with Employees
Social Security and Income Tax Withholding	116	(4)
Unemployment Taxes	120	(1)
Workers' Compensation Insurance	121	(1)
Compliance with ERISA---Employee Benefit Plans	121	(3)
Employee Safety and Health Regulations	124	(3)
Employee Wage-Hour and Child Labor Laws	127	(4)
Fair Employment Practices	131	(4)
Immigration Law Restrictions on Hiring	135	(1)
Restrictions on Layoffs of Employees	136	(1)
The Americans with Disabilities Act	137	(4)
Mandatory Family and Medical Leave Requirements	141	(1)
Performance Evaluations---Your Legal Exposure as an Employer	142	(2)
Employee or Independent Contractor?	144	(2)
Reporting Newly Hired Employees	146	(7)
Environmental Laws Affecting Your Business
Liability under Environmental Clean-up Laws	153	(3)
Community Right-To-Know Notification	156	(1)
Water Pollution Laws	156	(1)
Air Pollution Laws	157	(1)
Toxic Substances Control Act	158	(1)
Environmental Impact Statements	159	(1)
Miscellaneous Environmental Regulations	159	(1)
EPA Self-Evaluation Policy	160	(1)
Technology and Your Business
Technology---A Revolution in Progress	161	(1)
Using Universal Product Codes (UPC)	162	(1)
ISO-9000 Quality Standards and Certification	163	(2)
Is Electronic Data Interchange (EDI) in Your Future?	165	(1)
Internet Taxation and Regulation	166	(1)
Important Technologies and Trends To Watch	167	(2)
Miscellaneous Business Problems and Pointers
Protecting Your Assets from Creditors	169	(2)
Protecting Trade Names and Trademarks	171	(1)
Mail Order Sales and Telemarketing Regulations	172	(2)
Consumer Credit Laws Affecting Your Business	174	(2)
Multilevel Marketing Programs---Look Before You Leap	176	(1)
Reporting Foreign Investments in U.S. Businesses	177	(4)
Part III Money and Tax Matters
Financing Your Business
Small Business Administration Loans	181	(3)
Other Federal Loan Programs	184	(1)
Small Business Investment Companies	185	(1)
Business Development Corporations	186	(1)
Accounting Basics
Establishing Your Accounting System	187	(4)
Selecting Tax Accounting Methods	191	(4)
Cash-Flow Management	195	(2)
Are You a Victim of Accounting Fraud?	197	(4)
Employee Fringe Benefits and Stock Options
Fringe Benefits	201	(5)
Retirement Plans	206	(3)
Stock Option Plans	209	(2)
Business Expense Tax Deductions and Tax Credits
Travel, Entertainment, and Meal Expenses	211	(1)
Automobile Expenses	212	(1)
Start-Up Losses Must Be Capitalized, Not Deducted	213	(1)
Office in the Home Expenses	213	(2)
Business Tax Credits	215	(2)
Tax Benefits for Clean-Fuel Vehicles	217	(2)
Additional Tax Savings Strategies
Choosing the Best Taxable Year for a Corporation	219	(2)
Using a Corporation as a Tax Shelter	221	(2)
Tax Problems Unique to C Corporations	223	(6)
Planning for Withdrawal of Funds from a C Corporation at Minimum Tax Cost	229	(3)
Post-Incorporation Planning	232	(1)
Hiring Your Spouse or Child as an Employee	233	(1)
Sheltering Profits on Export Sales	234	(4)
How to Save on Unemployment Taxes	238	(1)
Section 1244 Stock	239	(1)
VEBA--The Ultimate Tax Shelter?	239	(2)
Tax and Legal Implications of Doing Business in Other States	241	(8)
Excise Taxes
Federal Excise Taxes	249	(2)
State Excise Taxes	251	(2)
Estate Planning and Your Business--The Basics
Why is Estate Planning Important?	253	(1)
Basic Estate Planning Strategies	253	(3)
How Estate and Gift Taxes Work	256	(2)
Estate and Gift Tax Reduction Strategies	258	(6)
Advanced Estate Planning Strategies	264	(1)
State Death Taxes	265	(2)
State Gift Taxes	267	(4)
Part IV Information and Resources
Sources of Help and Information
Professional Advisers	271	(1)
U.S. Small Business Administration and Other Helpful Agencies	272	(3)
Telephone Hotlines	275	(1)
Helpful Private Organizations	276	(2)
Helpful Small Business Publications	278	(2)
Do-It-Yourself Incorporation	280	(1)
Information on Payroll Taxes and Withholding	281	(1)
Other Useful Tax Publications	281	(1)
ERISA Compliance	282	(1)
OSHA Compliance	282	(1)
ADA Compliance	282	(1)
Information on Franchising	283	(1)
Helpful Internet Sites	284	(3)
State Information Sources	287	(2)
Index	289	(6)
Appendix: Post Cards	295