New entrepreneurs often charge into their business ideas with little thought into established legal requirements of all businesses.  In this episode, Darol interviews one such young business person, Michelle Mendoza, about her business goals and what she needs to do to set her business up for success.   Check out Michelle's podcast, My Michelle Live.

This episode lays out the steps to form a new business correctly: 

Step One: Draft, sign, and file your business formation documents with your state’s corporations agency. 

Step Two: Register your business with your state’s tax agency, typically referred to as a department or division of revenue, etc. 

Step Three:  Obtain a federal taxpayer identification number from the Internal Revenue Service.

Step Four: Obtain a city business license authorizing you to conduct business in your town or city. 

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