In this video you will learn about FDIC insurance. Importance on focusing on accounting and banking needs as one of the first steps in formatting a business. This video clarifies that Sole Proprietor does not equal a separate ownership category for FDIC, and is actually part of Individual insurance coverage of $250,000.
At the end, we provide one potential solution for you to improve FDIC Insurance Coverage for your LLCs, Partnerships, and Corporations.
Resources:
1. Calculate your insurance risk:
2. Find out more about CDARS:
3. New York State Incorporation:
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