How to Start a Business in Texas (Smartstart Series (Entrepreneur Press).)

Rating:
Summary: Lightweight: maybe a good overview, but missing details
Review: How to Start a Business in Texas includes chapters on initial business considerations, business structure, licensing/permits/taxes, employer responsibilities, sources of business assistance, marketing, business plan, obtaining financing, finance & accounting, human resources management, insurance, setting up your office, and info on Texas. In most cases the info was Texas specific but at times it was not (e.g. "Many states have repealed their bulk sales law ... consult your secretary of state or attorney.") The chapter on business structures was 18 pages. It was pretty light on tax information and did not include any sample forms for incorporating, nor did it include a sample operating agreement for an LLC. I also thought the tax information for an LLC was confusing. The summary states that the profits and losses pass through the LLC to the owners for tax purposes. Later the author states, (paraphrasing) Even though the IRS has ruled the LLC will qualify as a partnership for tax purposes, Congress has yet to pass any legislation to that effect. A 1997 IRS decision allows sole proprietorships to convert to LLC status. "This "check-the-box" legislation allows LLC's to be treated as corporations or partnerships for tax purposes." The chapter on setting up your office failed to provide any information on tax deductions. The marketing chapter has one paragraph on using the internet to market your business, so don't expect anything useful on setting up a web site. The chapter on insurance doesn't discuss errors and omissions insurance and basically states that a discussion of liability insurance is either beyond the scope of this book or you should consult your insurance agent. The chapter on accounting and finance is very lightweight.