This past week Black Affluence made a very important first step for any business- we received our LLC! This means that can now get a tax identification number, open a bank account and do business, all under our own name! There certainly is a freeing feeling when you officially own your own business. However- as Uncle Ben says “with great power comes great responsibility”
Slowly but surely, Black Affluence continues to make headway in the areas of financial literacy in the black community. The process of getting the LLC was fairly straightforward, simply fill out the online forms, pay the fees associated, wait for an approval response. Make sure to read the payment options carefully as different packages come with various options. Once you receive you are approved you will get your tax identification number which will allow you to write off certain purchases related to your business.
Big thanks to the members of our group chat that pointed us in the right direction as far as getting legal. If you would like to join our chat, please contact us. This is a great way, to connect with young professionals looking to increase their financial knowledge through shared resources!