Before you can get approved to accept credit cards or offer financing you must be a legitimate business entity. This will also allow you to open up a business bank account, which will be needed to get your merchant account. This is also important for filing tax returns.
Whether you have an LLC, business license or run your business as an individual, you should file a schedule C with your tax return. This allows you to deduct many things from your gross income. Some items that can be deducted are car expenses, phone, home office, meals, travel and so much more. Everytime you go on vacation just talk with someone about your products. Everytime you go out to dinner just talk to the server about it. With the digital business cards we will be providing it will be very easy to track all of those quick coversations.
Service we will provide.
We will create the LLC in your state. We will also engage a registered agent for your LLC. If you live in one of the few states that charges a lot to
create an LLC then we can first try to get you approved as a sole proprietor. If that doesn't work then we can file your LLC in another state that is cheaper.
When you have your LLC in another state you will usually have a virtual address and not a physical one. Credit card companies prefer a physical address,
which is why it is better to create the LLC in your state.
Click To See A List Of LLC Costs By State
The last item on this section is obtaining and EIN number. This is needed to open up a business bank account and the merchant account. This is preferable to using your social security
number.