How I built my second income online and tips to help you generate a second income too!

Category Archives: Forming a Business

I Formed a Business Entity

After careful consideration, I decided to form a business entity to operate my various second income enterprises. Now, the choice wasn’t obvious since I am the sole owner of my company. The advantages of a business entity, or lack of disadvantages, are much less significant when there is only one owner of a business. To review the advantages and disadvantages, see my previous post “Should I Incorporate.” The primary reason I chose to use an entity is that it is much cleaner financially. Additionally, due to the type of entity I formed, there is the potential for significant tax advantages.

Next time, I’ll get into different ideas for generating a second income.

Should I Incorporate

One of the most common questions I am asked by people who have just started a business is whether they should incorporate. The decision to form a business entity is a complex and an entrepreneur would be well served to consult their personal attorney and accountant before making such a critical decision. Many articles addressing thisContinue Reading