If I’m planning to start a life coaching business, what are the business considerations in setting it up?
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If I’m planning to start a life coaching business, what are the business considerations in setting it up?
I will have a website and offer online chat sessions to customers from other states. I am not sure if I want to form an LLC or become a sole proprieter. Do I need to register the business and pay filing fees in each state? I do not have offices or locations in other states. The life coaching sessions are done online.
Asked on November 14, 2014 under Business Law, New Jersey
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
You can do a few things to get started. Start with the state in which you reside. If this is an online business, you need to consider a limited liability company as limiting your liability in possible suits by creditors and clients. Further, you need to find out if your state allows a 1person LLC or whether you will need to choose between a corporation or sole proprietorship. Consider talking with a CPA about the tax implications of each of these business forms and then determine whether any type of action you conduct would require licensure or registration apart from filing with the relevant secretary of state.
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