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7. Establish a business checking account: NEVER MIX PERSONAL INCOME WITH BUSSINESS

INCOME!! Biggest mistake ever. Absolute nightmare for you and your tax prepare when it
is time to file.

Website: Visit: https://businessfilings.sos.ca.gov/

4. Corporation

Definition: A corporation is a business entity that legally exists separately from its owner(s). The

owners of a corporation are shareholders; their percentage of ownership in the business is
represented by their corporate stocks or shares. ... In most states, you will not be held personally
responsible for corporate debts.

There are several options for forming a “Corporation.” Most commonly selected is option #1 (see
below)

Please Note: It is highly recommended to consult with your Account, Legal or CPA when making

a decision which model will work best for you.

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