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Secrets to starting a
Home-Based
Business.
Learn the beginner steps on how you can successfully start-up
an online business with these step by step guide in the next 21
days.
Elite Xpertz
Gerryann Derby
INTRODUCTION
BUSINESS NAME
BUSINESS ADDRESS
REGISTER BUSINESS
FEIN / EIN
TAXES
REGISTER IBO
01
02
03
04
05
06
07
TABLE OF
CONTENT
This table of content will help
you find the pages of the content
and the pages where each
chapter begins.
Each chapter will have a page
and a chapter number.
INTRODUCTION
Who is this course for? 3 sets of
people: Those who are looking to
start a home-based call center with
Arise, those who are looking to start
an online business other than Arise,
and those who are looking to be
their own boss.
There are a lot of tools out there.
However, it doesn’t give you the
right information on where to start,
where to get the information, or
what’s next. I have created an easy,
simple, step by step eBook to help
beginners.
ON TO CHAPTER ONE!
Finding a business name can be
one of the most difficult task when it
comes to starting a business.
FIRST:
Get a .com domain name-
Customers tend to associate .com
with well establish businesses.
Avoid Names that are too long
Avoid Names that are hard to spell
Make sure the name is catchy and
sounds good.
Don't limit yourself- Choose a
name that does not identify the
business as it is, this will only limit
the growth of your business- For
example: If you would like to expand
your business in the future. You can
use the same business name. Try
using a general name.
Get feedback from others about the
name you decide to use.
A Few Inspiring Ideas
Activity
Get 5 people
Get as much feedback
from your audience.
Have at least 5-6
business names.
Take Notes (Negative &
Positive)
Samples of Questions
What do you think of this
business name? Does it sound
professional?
Do you think this name would
be a good fit for a call center
or consultant etc?
Why did you say that about
the name? Remember to write
both good and bad comments.
TIPS:
1. Do not ask the questions when everyone is
together.
2. Ask each people on different occasion or in
different rooms.
3. Eliminate 3 of the business names that receive the
most negative comments. If all of them received
good deal back. Check to see which ones are
available on godaddy.com.
4. Remember to use the tools I have provided on the
next page to help you. If you are having difficulties.
I hope you didn’t think this was just going to be an e-book where
you just read a few pages. Put the book down and forget you
ever brought it. I have provided activities, quizzes, helpful
resources and a checklist to help you understand and get you
through the beginner stages of starting your own business.
How do you know you have the perfec
t name? You will automatically feel excite
d and you can envision it next to one of th
ose main stream businesses.
How to know if a business name is ava
ilable? Go to godaddy.com and enter yo
ur domain name. It will let you know if the
name is taken or not.
What if I find a domain name that I like
but it is not available? If you find a nam
e that is not available. It is best to try spel
ling it a different way. For example: Flier/f
lyer or Donut/doughnut.
Use tools- Rhyme
zone, Dotomator and Thesaurus for (Syn
onyms)
Make a list- Think about the pros and co
ns of each business name you have and
mark off the name that does not fit your c
riteria.
Before you register your business, you mus
t have a business address. I know, a million qu
estions are probably running through your hea
d. You have two options as far as address. A P
O box is not accepted.
1. Physical address- You may use your home
address for your business. However, it can co
me off as unprofessional. Plus, you don’t want
anyone showing up at your door.
2. Virtual address- A virtual address is a phys
ical address attached with a mailbox that you c
an use on your business registration, business
card, website, etc. All letters are faxed to your
account. Virtual offices are inexpensive and s
ave business owners a lot of money.
You can also rent out office space and confere
nce room.
BUSINESS ADDRESS
BUSINESS ADDRESS
Facts about Virtual address:
1. You may be charge a monthly
fee of $5.00- 12.99
2. You can use the address for
anything pertaining to your
business.
3. Its professional and easy for
anyone who has a home-based
business.
4. All mails are faxed to your
account you create with the
company. A fee may apply.
5. Virtual address is like physical
address, the only downsize is it
do not come with an office.
6. Some of them do have office
space you can pay for up to
certain number of hours or
days.
7. If you are looking for
something with an office
space.
8. You may want to consider
Virtual offices. These are a bit
more expensive. $60-200 per
month depending on where
you live.
9. Virtual Business address also
comes with a fax number.
10. Most virtual address
companies are shipping places.
You can also utilize that feature
if you decided to sell products.
Davincivirtual.com
Business addresses are expensive
at davinci. However, if you are
considering a virtual office. This is
the only website where I saw
reasonable prices. Every state may
be varying.
Physicaladdress.com
Ipostal.com
Business Address Websites
VIRTUAL OFFICE
Independent legal and tax
structures are separate from their
owners.
C Corp separate your personal
assets from your business debts.
There is no limit of how much
shareholders you should have.
You are taxed on corporate
profits and shareholder
dividends.
C Corps must hold annual
meetings and record meeting
minutes.
Advantages of C Corp
Limited liability to directors,
officers, shareholders, and
employees even if the owner
leaves the company.
C Corp has enhanced credibility
among suppliers and lenders.
There is unlimited growth
potential.
If the company has $10
million in assets and 500
shareholders, it is required to
register with the SEC under
the Securities Exchange Act
of 1934.
Certain tax advantages. Enjoy
tax-deductible business
expenses.
Disadvantages of C Corp
C Corp are double taxed at
the company level and as
shareholder dividends.
C Corporation is expensive to
start, there are a lot of fees
that comes with filing the
Article of incorporation.
It is also more likely to be
overseen by the government
due to complex tax rules due
to complex tax rules and the
protection provided to
owners from being
responsible for debts,
lawsuits, and other financial
obligations.
There is no deduction for
corporation losses.
C Corporation
1. Are c corp tax on corporate profits or personal?
_________________
2.Are there a limited number of shareholders?
_________________
3.Are c corp double taxed?
_________________
4.Are c corp expensive to start?
_________________
5. Are there any deduction on taxes for a c corps?
_________________
6. True or False: There are deductibles on corporate losses
_______________
Lesson 1
Independent legal and tax
structures are separated from
their owners.
Your personal assets are separate
from your business debts.
All profits and losses from the
company are reported on the
owner’s personal tax returns.
The shareholders are limited on
the number of share and they
must be a U.S Citizen or
residents.
S Corp must hold annual
meetings and record meeting
minutes.
Advantages of S Corp
There are Limited liability
among the directors, officers,
shareholders, and employees
S corp are not double tax which
means income is not taxed twice
Investment opportunities. The
company can attract investors
through the sale of shares of
stock.
The business continues to exist
even if the owner leaves or dies.
Taxes are only required once a
year.
Disadvantages of S Corp
Must be U.S. citizens and
permanent residents only.
S Corp cannot have no more than
100 shareholders
You must first incorporate the
business by filing Articles of
Incorporation with your desired
state.
Many states also impose ongoing
fees, such as annual report and/or
franchise tax fees.
Tax qualification obligations.
Mistakes regarding the various
filing requirements can
accidentally result in the
termination of s corp status.
Both employees and
shareholder’s payments can be
distributed as salaries or
dividends which can also be
taxed differently, which is what
leads the IRS to scrutinize that
distribution more closely.
S CORPORATION
1. Are s corp double tax?
____________________
2. True or False: S corp can have more than
100 shareholders?
_____________________
3. True or False: S Corp must first
incorporate the business by filing Articles of
Incorporation with your desired
state________________
4. Are s corp taxes documented on personal
tax? ____________
5. True or False: Most states uphold annual
fees for s corp? ___________
Lesson 2
Independent legal structures
are separated from their
owners.
LLC personal assets are
separated from business
debts.
You are taxed similarly to a
sole proprietorship (if one
owner) or a partnership (if
multiple owners).
There is no limit to the
number of owners.
You are not required to hold
annual meetings or record
minutes.
It is governed by operating
agreements.
Partners, suppliers, and
lenders may look more
favorably on your business
when you've formed an LLC.
Advantages of LLC
There is no need to file a
corporate tax return. All
profits and losses are filed on
the owner’s individual tax
returns meaning you avoid
double taxation.
Residency is not required for
LLC. Owners do not need to
be a U.S. citizens or
permanent residents.
The owners have limited
liability for business debts
and obligations.
Partners, suppliers, and
lenders may look more
favorably on your business
when you've formed an LLC.
Disadvantages of LLC
You cannot issue shares of
stock to attract investors.
LLCs can be treated
differently in different states.
Self-employment tax.
Earnings can be subject to
this kind of taxation.
Tax recognition on
appreciated assets. This could
happen if you convert an
existing business to an LLC.
One more way that extra
taxation can occur.
Limited Liability Corporation
1.True or False: LLC
are filed as a
corporation________
_
2.True or False: LLC
profits and losses are
filed on the owner’s
individual tax returns
meaning you avoid
double taxation.
_________
3. True or False: LLC
has no limit to the
number of owners
______________
4. True or False: LLC
must file a corporate
tax return when it
comes to _______
5. True or False: You
can issue shares of
stock on a LLC.
________________
6. True or False:
Residency does not
matter when it comes
to an
LLC_____________
Lesson 3
You have finally registered your business and you are wondering
what’s next?
What is an ein?
A EIN is known as Employer Identification Number. This
number is assigned by IRS to every business in the United States.
How can you get an ein?
You can get an EIN by going to the IRS website. All links are
provided to you below under resources.
Are FEIN/EIN the same?
EIN and FEIN are the same number. They are both worded
differently as on is call Employer Identification Number and the
other is call Federal Employer Identification Number.
How much taxes will I need to pay?
You can download the form 1040 ES from irs.gov. it usually has
a percentage of how much you think you will make and what
percentage you should make.
All IBO will need to contact their accountant to find out how muc
h taxes need to be deducted.
FEIN/ EIN
Checklist
BUSINESS NAME
MY BUSINESS NAME IS: __________________________
BUSINESS ADDRESS:
MY BUSINESS ADDRESS IS: ____________________________
____________________________
BUSINESS REGISTRATION:
MY BUSINESS IS REGISTERED AS A ____________________________ WITH
MY STATE.
FEIN:
MY IRS FEIN/ EIN IS _____________________
Answers
Lesson 1 Lesson 2 Lesson 3
No No False
Yes False True
Yes True True
No Yes False
False True False
True
BUSINESS REGISTRATION- find your state to register your biz
https://www.sba.gov/starting-business/choose-register-your-
business/register-state-
agencies?leavingSBA=http://sunbiz.org/startbus.htm
TAXES- You will receive a code in the mail 6 weeks after filing your
ein… eftps is used to pay taxes
https:// eftps.gov
EIN- use to identify your business and for filing taxes
https://www.irs.gov/businesses/small-businesses-self-
employed/apply-for-an-employer-identification-number-ein-
online
BUSINESS NAME GENERATOR
https://getsocio.com/tools/business-name-generator
VIRTUAL ADDRESS
Ipostal.com
Physicaladdress.com
VIRTUAL OFFICE
davincivirtual.com
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