Common Questions and Answers

Checklist for starting a business

Most businesses start out small. The checklist below provides the basic steps for starting a business. The list is not all inclusive. Your specific type of business could require other steps. The Small Business Administration (, Internal Revenue Service (, and the organization SCORE ( all offer free help to new small business owners with starting a business.
  • Apply for a federal Employer Identification Number (EIN). You may need it for a variety of reasons, including some that are not tax-related, such as opening a bank account.
  • Consult a tax advisor, even if you are just thinking about starting a business. There are many decisions to make in starting a business such as choosing a business structure, tax year and accounting method.
  • Pay estimated federal and state taxes four times a year. Your tax advisor can help you determine how much to set aside ahead of time for your payment.
  • Keep good business records of income and expenses. Save all receipts.
  • If you plan to have employees, make sure you understand all the requirements and forms that you need to submit when hiring employees.

Provided by:
IRS This information provides a brief overview from the Internal Revenue Service of issues and decisions involved in owning a small business and avoiding common pitfalls.

5 Reasons to Monitor Your Business

Business owner

  • 24/7 monitoring of your company's Experian credit score
  • Automatic email alerts of any unusual activity in your company's credit report that might indicate fraud
  • Unlimited access to your company's most up-to-date credit report and score
  • Dark Web Surveillance
  • Business Fraud Resolution Support

Related questions

What is an Employer Identification Number (EIN)?

How to choose a tax advisor for your business

What are the common forms of businesses, and what structure makes the most sense for your new small business?

Navigate the path to early-stage business success through this eBook, created by ADP and Experian.

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