{"id":12901,"date":"2015-11-17T17:19:54","date_gmt":"2015-11-17T17:19:54","guid":{"rendered":"https:\/\/www.hrblock.com\/tax-center\/?p=12901"},"modified":"2024-04-19T13:30:24","modified_gmt":"2024-04-19T18:30:24","slug":"tips-for-starting-small-business","status":"publish","type":"post","link":"https:\/\/www.hrblock.com\/tax-center\/small-business\/tips-for-starting-small-business\/","title":{"rendered":"Want to Be an Entrepreneur? Here Are Tips for Starting a Small Business"},"content":{"rendered":"\n<p>Follow your passion. Do your own thing. Be your own boss. It&#8217;s&nbsp;a great time to take a closer look at what it means to go into business for yourself. Today, freelancers represent 35% of U.S. workers and collectively earned $1 trillion in the past year, according to the \u201cFreelancing in America: 2016\u2033 a&nbsp;<a href=\"http:\/\/www.marketwired.com\/press-release\/new-study-finds-freelance-economy-grew-55-million-americans-this-year-35-total-us-workforce-2164446.htm\" target=\"_blank\" rel=\"noopener noreferrer\">study conducted by Freelancers Union and Upwork<\/a>. In the age of internet-based job marketplaces,&nbsp;sharing economy gigs, and multi-level marketing roles, your opportunity&nbsp;to starting a small business is&nbsp;vast.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-best-industries-for-start-up-businesses\">Best Industries for Start-Up Businesses<\/h2>\n\n\n\n<p>Here&#8217;s a closer look at which industries are ripe for a start-up business (it&#8217;s not just tech), who is taking the leap and some of the best places for&nbsp;starting a small business.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-llc-or-s-corp\">LLC or S Corp?<\/h2>\n\n\n\n<p>Of course, it&#8217;s also important to look at how being an entrepreneur affects your taxes. We delve into the biggest differences between two common options: the LLC and S corp (corporation). There are differences between LLC and S corp&#8217;s tax liability, structure, requirements, and costs. Which one is right for you? This guide may help you decide:<\/p>\n\n\n\n<p><em>Click to view larger image<\/em><\/p>\n\n\n\n<div class=\"wp-block-create-block-hrb-infographic\" class=\"wp-block-create-block-hrb-infographic\"><div class=\"hrb-infographic\"><img decoding=\"async\" class=\"hrb-tic-infographic--full-infographic\" src=\"https:\/\/www.hrblock.com\/tax-center\/wp-content\/uploads\/2015\/11\/Entrepreneurship-800a-5.jpg\"\/><\/div><div class=\"hrb-infographic-toggle-row\"><a href=\"javascript:void(0)\" class=\"hrb-tic-infographic--toggle\"><\/a><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Follow your passion. Do your own thing. Be your own boss. It&#8217;s&nbsp;a great time to take a closer look at what it means to go into business for yourself. Today, freelancers represent 35% of U.S. workers and collectively earned $1 trillion in the past year, according to the \u201cFreelancing in America: 2016\u2033 a&nbsp;study conducted by [&hellip;]<\/p>\n","protected":false},"author":406,"featured_media":26278,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[27],"tags":[],"class_list":["post-12901","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-small-business"],"acf":[],"yoast_head":"<title>Tips for Starting a Small Business | H&amp;R Block<\/title>\n<meta name=\"description\" content=\"Thinking about starting a small business? 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Check out this infographic from H&amp;R Block - it has the entrepreneur facts and advice that you need.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.hrblock.com\/tax-center\/small-business\/tips-for-starting-small-business\/\" \/>\n<meta property=\"og:site_name\" content=\"H&amp;R Block\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/hrblock\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/hrblock\" \/>\n<meta property=\"article:published_time\" content=\"2015-11-17T17:19:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-19T18:30:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.hrblock.com\/tax-center\/wp-content\/uploads\/2015\/11\/Entrepreneur-banner-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"960\" \/>\n\t<meta property=\"og:image:height\" content=\"347\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"H&amp;R Block\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@HRBlock\" \/>\n<meta name=\"twitter:site\" content=\"@hrblock\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"H&amp;R Block\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/resource-center.hrblock.com\\\/small-business\\\/tips-for-starting-small-business\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/resource-center.hrblock.com\\\/small-business\\\/tips-for-starting-small-business\\\/\"},\"author\":{\"name\":\"H&amp;R Block\",\"@id\":\"https:\\\/\\\/resource-center.hrblock.com\\\/#\\\/schema\\\/person\\\/457c637fc00b8529db4e6ac60a21ccd8\"},\"headline\":\"Want to Be an Entrepreneur? 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