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Starting a New Business: United States

Starting a New Business: United States
Provider: Savvy-U
Developed by: JLM Training
Instructor: Brian S. Maddox, PMP, MBA
Authors: Jeannette Maddox
Media: Online
Course Type: Self-Paced, e-Learning
Course Length: 4 hours
Cost: $99.99
PMI PDUs: 4
NMA CEUs: .4
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Program Content
In this self-paced online course you will be introduced to federal, state, and city requirements for starting and operating a new business in the United States. You will receive twelve (12) templates that will assist you in the process of selecting, developing, marketing, selling and ongoing operation of your business.

Learning Objectives
Research shows that the success of a business can be improved by better understanding your business startup and operations requirements as well as the utilization of industry proven tools and techniques for the ongoing development, marketing, and sales of your product or service. This interactive training will share with you the federal, state and city requirements for starting a new business while combining industry recognized tools to assist you in both the startup and ongoing operation of your business.

Participant Level of Understanding
This program is intended for participants with a beginning to intermediate knowledge level of business management.

Who Should Attend?
This training is open to anyone who wants a better understanding of how to start and operate a new business in the United States.

Prerequisites
There are no prerequisites for this training.

Advance Preparation
There is no advanced preparation required for this training.

Training Recognition and Credits
Project Management Institute (PMI) Professional Development Units (PDUs).
Upon successful completion of this course, participants will receive four (4) PDUs.
National Management Association (NMA) Continuing Education Units (CEUs).
Upon successful completion of this course, participants will receive point-four (.4) CEUs.

Course Outline
  1. Introduction
    1. Course Disclaimer
    2. Instructor Introduction
    3. Course Navigation Tips
    4. About this Course
    5. What to Expect
  2. Starting Your New Business
    1. Contact List + Template
    2. Communications Management Plan + Template
    3. Statement of Qualifications (SOQ) + Template
    4. Stakeholder Analysis + Template
    5. Business Plan + Template
    6. Marketing Plan + Template
    7. Sale Plan + Template
  3. Federal Requirements
    1. Employer ID Numbers (EINs) Overview
      1. Businesses
      2. Sole Proprietors
      3. Corporations
      4. Partnerships
      5. Limited Liability Company
      6. Estates
      7. Trusts
    2. Applying for an EIN Overview
      1. How Long Will it Take?
      2. How EINs are Assigned
      3. Canceling EIN and Closing an Account
      4. Information for Exempt Organizations
    3. Business Expenses Overview
      1. What Can I Deduct?
      2. Expense Spreadsheet + Template
      3. Cost of Goods Sold
      4. Capital Expenses
      5. Budget Tracking Analysis + Template
      6. Internal Costs
      7. External Costs
      8. Re-Occurring Costs
      9. Personal vs. Business Expenses
      10. Use of Your Home
      11. Use of Your Car
      12. Travel and Mileage Details + Template
      13. Other Types of Business Expenses
    4. Estimated Tax Overview
      1. Who Must Pay Tax?
      2. Sole Proprietors, Partners and S-Corporation Shareholders
      3. Corporations
      4. Who Does Not Have to Pay Estimated Tax?
      5. Estimated Tax Not Required
      6. How to Figure Your Estimated Tax
      7. When to Pay Estimated Taxes
      8. Using the Electronic Federal Tax Payment System (EFTPS)
    5. Taxable and Non-Taxable Income Overview
      1. Constructively Received Income
      2. Assignment of Income
      3. Prepaid Income
      4. Employee Compensation
      5. Childcare Providers
      6. Babysitting
      7. Fringe Benefits
      8. Recipient of Fringe Benefit
      9. Business and Investment Income
      10. Partnership Income
      11. Partners Distributive Share
      12. Partnership Return
      13. S-Corporation Income
      14. S-Corporation Return
      15. Royalties
      16. Bartering
    6. Accounting Periods and Methods Overview
    7. Paying Yourself
      1. Corporate Officers
      2. Partners
      3. Dividend Distributions
      4. Form 1099-Misc or Form W-2
      5. Treating Employees as Non-Employees
      6. Shareholder Loan or Officer's Compensation
      7. Reasonable Compensation
      8. Draw Account
    8. Employment Taxes
      1. Federal Income Tax, Social Security and Medicare Taxes
      2. Federal Unemployment Tax (FUTA)
      3. Self-Employment Tax
      4. Depositing Employment Taxes
      5. Reporting Employment Taxes
      6. E-File for Business and Self-Employed Taxpayers
      7. Preparing and Filing Form W-2
      8. Correcting/Adjusting Employment Taxes
    9. Outsourcing Payroll Duties Overview
      1. Third Party Agreements
      2. Independent Contractor (Self-Employed) or Employee
    10. Employee Benefits
      1. Fringe Benefits
      2. Unemployment Insurance
      3. Worker's Compensation
      4. Health Plans
    11. Hiring Employees Overview
      1. Eligibility to Work in the United States
      2. Employees Social Security Number (SSN)
      3. Advanced Earned Income Credit Payments
      4. Employees Withholding
    12. Recordkeeping
      1. Why Should I Keep Records?
      2. What Kind of Records Should I Keep?
      3. How Long Should I Keep Records?
      4. How Long Should I Keep Employment Tax Records?
      5. How Should I Record My Business Transactions?
      6. What is the Burden of Proof?
    13. Filing and Paying Your Business Taxes
      1. Earned Income Tax Credit
    14. Tax Years Overview
      1. Short Tax Year
      2. Not in Existence Entire Year
      3. Changing Your Tax Year
    15. Filing and Paying Your Business Taxes
      1. E-File (Electronic Filing)
      2. Employer Identification Number (EIN)
      3. Electronic Payment Options
      4. Employment Taxes for Small Businesses
      5. Filing Late and/or Paying Late
      6. Reporting Information Returns
      7. What is an Information Return?
      8. Who Must File Information Returns?
      9. Self-Employment Taxes
      10. Tax Summary Template + Template
    16. Changing Your Business Structure
      1. Changes in Organization or Ownership
    17. Intangibles Overview
      1. Intangible Property
    18. Retirement Plans for Small Businesses Overview
    19. Business Tax Credits Overview
      1. How to Claim the Credit
    20. Closing a Business Overview
      1. Changing Your Business Structure
      2. Closing a Business Checklist
    21. Declaring Bankruptcy
    22. Sale of a Business Overview
      1. Publication 541, Partnership Interests
      2. Publication 550, Corporation Interests
      3. Corporate Liquidations
      4. Allocation of Consideration Paid for a Business
      5. Consideration
      6. Residual Method
      7. Terminating a Retirement Plan
    23. Business Name Change Overview
      1. Sole Proprietorship
      2. Corporation
      3. Partnership
    24. Business With Employees Overview
  4. State Requirements
    1. Starting Your Business
    2. Choosing or Updating Your Business
    3. Plan Your Business
    4. Business Structure
    5. Change Business Structure
    6. Types of Structures
      1. Sole Proprietorship
      2. General Partnership
      3. Limited Partnership
      4. Limited Liability Partnership (LLP)
      5. Corporation
      6. Limited Liability Company (LLC)
      7. Massachusetts Trust
    7. Business Application Overview
      1. Changing Start Date After Application Filed
      2. How Long Will It Take to Process?
      3. When Are the Licenses Active?
      4. What Will Happen After You File the Application and Receive Your UBI?
    8. Filing a Business Application
      1. How to File?
      2. Fastest Way to File
    9. Change or Update Your Business
    10. Change a Physical Location Address
    11. Change a Mailing Address
    12. Change Your Registered Agent's Address
    13. Close Your Business Account
    14. Notifying Other Regulatory Agencies
    15. Change Your Business Structure
    16. Unified Business Identifier (UBI)
      1. When Can I Use My UBI Number?
    17. Employer Identification Number
      1. Do You Need a Federal EIN?
      2. Can I Request a Business Records Search About Other Businesses?
    18. Employees
      1. Hiring Employees
      2. Workers Compensation and Unemployment Insurance
      3. Who is an Employee?
      4. Independent Contractors
      5. Minor or Employee Under 18
      6. Employee Timesheet + Template
    19. Specialty Licenses
      1. When to Renew
      2. License Expiration Date
      3. How to Renew
    20. Professional Licenses
      1. Renew Your Professional License
    21. Corporation or LLC
      1. Renew Your License
      2. How to Renew
      3. Filing Deadlines
    22. City and County Licenses
      1. Master License Service
      2. State Tax Registration
      3. How to Get a Tax Registration
    23. Industrial Insurance
    24. Self-Insurance
    25. Unemployment Insurance
    26. Trade Name Registration
      1. Trade Name Availability
      2. How to Register a Trade Name
      3. How Can I Add a Trade Name to my Existing Business?
      4. How Can I Change the Trade Name of my Business?
      5. What do I do if I am no Longer Using a Trade Name?
  5. City Requirements
    1. Basics for Doing City Business
    2. Course Survey