Category Archives: Uncategorized

Saafenet makes reentry manageable for Vets

Help our vets overcome financial stress

militaryMany of our young people decide their first career step should be in service to their country. A select few will make careers of their military service. And we here at Bizdoks, and all the family of Saafenet websites, salute and honor their service to our country. Thus, we have made special arrangements to help their return to civilian life to be as fruitful as possible. Prior to describing our pledge to our returning vets, let us identify the reasons for our commitment.

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Employer’s ID (EIN) Filing Service

When you make the decision to go into business, you must get a Federal Tax Identification or Employer’s ID Number (EIN) from the Internal Revenue Service (IRS).  Your EIN is much like the identification a Social Security Number provides to an individual. Virtually every registration you would make for your business requires your EIN number.  When you register your business with your state, you must have an EIN.   If you want to establish a credit file for your business with Dun and Bradstreet, you must have an EIN.  If you wish to participate in small business set-aside programs, you must have an EIN.  Since the passage of the Patriot Act, you must have an EIN to open a bank account.

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Maintain Limited Liability Status

Registering to be a corporation or LLC is not enough

Many people think incorporating their businesses or using a limited liability status for their  companies protects their personal assets.. You may think you are finished, when you apply for an EIN, and file articles or an operating agreement with your state. Feeling that will take care of your organizational issues. But if you fail to meet the ongoing compliance requirements of your organization, you can lose your limited liability status. And, even have courts to pierce your corporate or limited liability veil of protection.  This could lead to the award of your personal assets to a plaintiff in a law suit. Especially, if your company assets do not cover the judgement amount in a legal action.

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