QuickTips Index

Series LLCs
You may have heard there is a new type of business entity - a Series LLC. Basically this entity allows many separate limited liability companies to operate under the umbrella of a parent LLC. The purpose? Simplifying the protection of business assets.

Arts / Crafts Inventory or Expense?
If you produce a product, you will normally have both a cost of goods sold and inventory. Find out how to differentiate between the two.

Selecting a Schedule C Activity Code for an Arts / Crafts Business
Sole proprietors fill out a Schedule C to report arts / crafts business taxable income. This form asks for a activity code. Find out what this is and where to find it.

What Type of Business Entity is Good for an Arts / Crafts Business?
A quick discussion of how limited liability plays into the section of a business entity. Key is checking your state statutues.

Executive Summary
The executive summary portion of the business plan is in the beginning of the business plan. The purpose of the executive summary is to give your reader a thumbnail sketch of the business.

Sole Proprietorship 1040-ES Tax Deposit
Kind of confused on how to figure a 1040-ES deposit amount? Here's an example walking you through the calculation for a sole proprietorship.

Prepare a Business Plan Before Quitting Your Job to Start a Craft Business
Before you quit a full time job working for someone else to start a craft business make sure you prepare a business plan. Working through the business plan will give you a good idea if you can cover your personal living and business expenses with the new venture.