Posts by Melissa Clark

Fictitious business name renewal companies could be a scam

Entrepreneurs forming an LLC and using a fictitious business name should watch out for disreputable companies offering to renew a business name filing for excessive fees. A Victorville, California, business owner thought twice before sending in the $125 fee to an official-looking company that threatened his LLCstatus would expire, reported the Victorville Daily Press. The California attorney general […]

Incorporating an LLC can save money on taxes

Entrepreneurs can avoid double taxation and lower their tax rates through incorporation, especially by forming an S corporation from their existing LLC or C corporation. Many LLC members pay a self employment tax that can be reduced to a lower payroll tax by forming an S corporation and allocating a small portion of profits for personal salaries, according to Wayne […]

Minority-owned businesses on the rise

The number of minority-owned businesses in the U.S. has shown a significant increase in recent years, according to figures from the U.S. Census Bureau. From 2002 to 2007, the number of minority entrepreneurs who have started an LLC or other business type increased 46 percent to roughly 5.8 million companies. Small business growth by minorities […]