Purchasing a business is a huge deal - a decision that should not be taken lightly.
Business and taxes go hand-in-hand for entrepreneurs in the first few months of the year. This consideration is important because the structure of a business has future tax implications for the life of the company. Entrepreneurs must make this legal decision early on in a company's history, and due to future considerations, should do everything possible to get it right the first time.
The most common form for someone just starting a business is the sole proprietorship. If you have a one-person business - a bookkeeper, a consultant, a computer repair shop, a housecleaner or a writer - it's the perfect solution.
Our proximity to the capital puts us in a unique position in the business world. Many businesses in Northern Virginia and Maryland provide services to the U.S. government in some form or another. These often lucrative contracts give businesses a steady workflow and a placeholder in the local market. While servicing a government contract can make business interesting, earning the contract is a feat in itself. How do businesses obtain government contracts?