All your income activity is the businesses and all the businesses activity is
yours. You can’t count your labor as expense.
is more then one person.
Articles of Incorporation
It’s an easy process. You have to tell them what
you’re going to do, and whether or not you are a profit or non-profit group. You then get a charter which means the
state is giving you permission to be a corporation.
To get money you can get a loan from the bank. Or you can borrow money from the
public via stock. You’re going to transfer ownership of your company to the public. This is also known as going public.
The most you want to sell to stockholders is 49%. You want to remain majority owner.
A dividend is money you receive from your stock. If the company is making a profit then you get money.
DBA (Doing Business As…)
You want to make up your name. You go
to the county building and file a DBA, and then you get to do business as whom ever for 10 years. You set up a checking account.
PAT (Power of Attorney)
sign someone else’s name legally.
you’re the only company in your field of production.
are a few businesses in the field of production.
- A group of corporations/ people
in the same field working together.
the right to use McDonald’s name.