Transforming your hobby into a profitable business can be accomplished when you do your due diligence and get your legal ducks in a row.
With launching a new company comes the need to make many decisions. Among them: choosing a business structure. The type you select for your startup affects far more than whether or not your company’s name includes something like “LLC” or “Inc.” at the end of it.
Deducting business expenses on your taxes is one of the major perks of being a small business owner. But what if your business just started this year?