Motivational Management

Starting a business? One of your first big decisions is how to structure it.

Your business structure can affect how you're taxed, what tax forms you file, your recordkeeping requirements, and your legal responsibilities.

Common structures include (definitions simplified for post): Sole Proprietorship – A business owned and operated by one individual; Partnership – A business owned by two or more people; Corporation – A separate legal entity owned by shareholders; Limited Liability Company (LLC) – A business structure created under state law that can offer different legal and tax considerations.

There isn't a one-size-fits-all answer. The right structure depends on your business, your goals, and your individual circumstances. Before making your decision, consider talking with a qualified attorney or tax professional who can help you understand your options and determine what may make sense for your business.

Helpful resources:
🔗 IRS: Business Structures
https://www.irs.gov/businesses/small-businesses-self-employed/business-structures
🔗 Illinois Secretary of State: Business Services
https://www.ilsos.gov/departments/business-services.html
🔗 Illinois Secretary of State: Business Forms & Publications
https://www.ilsos.gov/publications/business-services.html

Planning now can help you build a stronger foundation for what's next!

The announced Monday, January 26, 2026, as the opening of the nation’s 2026 filing season. You will have until Wednesday, April 15, 2026, to file your 2025 tax returns and pay any tax due. Don’t forget that IRS.gov has online tools and resources you can use before, during and after filing your federal tax return. For a list of filing season tools, reminders and resources, read: https://ow.ly/1yqq50XTweL

The ECDA has partnered with Alicia Kleinert, founder and owner of MCA Senior Adult Day Center, for our next installment of the 2025 ECDA Lunch n' Learn series: How to Start a Business in Kankakee! Whether you're a budding entrepreneur or curious about this process, join us on March 4th at 11:30am to learn the inside scoop on kickstarting your business!

ECDA's Economic Development Navigator, Leonel B. Jaramillo, will be walking attendees through the business licensing process and will be followed by Alicia Kleinert as our keynote speaker who will tell us her story and experience opening her business, MCA Senior Adult Day Center, in Kankakee.

You won't want to miss this!

Limited seats available. Link in bio. Registration deadline: February 28

Bilingual translation available.

See you there!

You can get an employer identification number, or EIN, for free from the in minutes. Apply online: www.irs.gov/ein

🌿🎶 Kankakee Farmers’ Market – Vendor & Music Applications Open 01-31-2025! 🎶🌿

Calling all vendors and musicians! 🎤🎨🥕 Be part of the 2025 Kankakee Farmers’ Market and showcase your products and talents.

📅 Season: Every Saturday from May 3 – October 25, 2025; 8:00am to Noon

📌 Apply Here: https://www.managemymarket.com/VendorRegister.aspx?orgID=1540



🌿🎶 Kankakee Farmers' Market - ¡Apertura de aplicaciones de proveedores y música 01-31-2025! 🎶🌿

¡Llamando a todos los vendedores y músicos! 🎤🎨🥕 Sea parte del Mercado de Agricultores de Kankakee 2025 y muestre sus productos y talentos.

📅 Temporada: Todos los sábados del 3 de mayo al 25 de octubre de 2025; 8:00 a.m. al mediodía

📌 Aplica aquí: https://www.managemymarket.com/VendorRegister.aspx?orgID=1540