BizFilings wants to help business owners Incorporate Your Dream^sm by providing the opportunity for one lucky business owner to win $5000 to fund a growing business.

Business incorporation services leader BizFilings has been selected for the 2008 Madison Award in the Business Services category by the U.S. Local Business Association (USLBA).

Challenges in the current economy are leading many successful business people in corporate America away from Wall Street and back to Main Street where they can realize lifelong dreams of owning their own business.

Question: Is it true that I save tax dollars if I form an LLC?

Answer: Generally speaking, personal tax rates are lower than corporate tax rates. Corporate income is taxed at 34 to 39 percent. Singles making under $80,000 and marrieds making under $160,000 have a personal income tax of 25 percent. This means that businesses with incomes that are less than $350,000 may experience tax savings by forming an LLC instead of a corporation.

Becoming the president of an international corporation used to take a lifetime of hard work. Now it can be done with a PC, strong entrepreneurial spirit and the remaining balance of 2008.

Although it may be too late for sole proprietors to gain the tax advantages of forming an LLC or corporation in 2008, it’s not too early to begin adopting these changes for 2009.

Successful business owners agree that every company needs to have a legal structure that provides limited liability protection. However, choosing between the most common options - S corp, C corp and LLC - can still seem daunting. 

Here are five tips for choosing the business structure that’s right for you.

Many people dream their whole lives about starting a business, but never take the plunge. If you are sitting on your dreams, here are five reasons to make today the day you to start your own business.

To protect everything they work so hard for, most experienced entrepreneurs are saying “so long” to sole proprietorship.

Downturns in the economy are actually a great time to start a business that runs more efficiently than competitors. This is because companies are examining every expense for ways to save. If you can offer a better price than their current vendor, you will have a decent chance of winning their business — and growing your new company rapidly.