Common business forms to get your company up and running.
Whether you’re ready to work as a freelancer or open your own small business, keep these forms top of mind when setting up shop.
It can be an exciting time when you start a new business or strike out on your own as a freelancer. No matter how you go, it’s important to stay on top of the business forms and documents that can keep your work flowing. Let’s dive into some common forms you could benefit from having on hand in your business.
Choose the right form for your business type.
Before you can get to work, you’ll first need to consider how to structure your business. Most small businesses structure themselves as a limited liability company or LLC. If freelancing is more your speed, you’ll want to set up as a sole proprietorship. If you don’t want to go solo — consider the structure of a partnership. Know that each entity has a different tax form. Here are some of the most common:
- Form 1065 (partnership)
- Form 1120 (corporations)
- 1040 Schedule C or 1040 C-EZ (sole proprietorship or self-employed)
If you hire contractors in your business, you’ll also need the W-9 form to help estimate taxes owed by your workers.
Make short work of templates.
The forms don’t stop flowing once you sort out your business structure and the applicable taxes. But the good news is you can turn most of the following forms into editable templates to use over and over — that includes:
- Project proposals
- Employment contracts
- Product orders (if in e-commerce)
- Customer registration forms