Create a business
Enter business details
Fill in the required information:
- Legal name — Official registered name
- Entity type — LLC, trust, corporation, etc.
- EIN (optional) — Federal tax ID number
Business information fields
Basic information
| Field | Description |
|---|---|
| Legal name | The official registered name of the entity |
| Display name | Shorter name for everyday use (optional) |
| Entity type | Legal structure (LLC, trust, etc.) |
| State of formation | Where the entity was legally created |
| Date formed | When the entity was established |
Tax information
| Field | Description |
|---|---|
| EIN | Federal Employer Identification Number |
| Tax year end | Fiscal year ending month |
| Tax classification | How the entity is taxed (pass-through, etc.) |
Contact information
Businesses can have their own contact details:- Registered agent address
- Primary business address
- Phone and fax numbers
- Business email address
Managing ownership
Add an owner
Add owner
Click Add owner and select from:
- A person from a connected household
- Another business entity
Ownership types
| Type | Description |
|---|---|
| Direct | Person or entity directly owns shares/interest |
| Trustee | Person serves as trustee (for trusts) |
| Beneficiary | Person is a beneficiary (for trusts) |
| Manager | Person manages but may not own (LLCs) |
| Officer | Corporate officer role |
Link custodian accounts
Connect accounts held in the business name:Accounts can only be linked to one entity (household or business) at a time.
Edit a business
Add documents
Store important business documents:Common document types
- Operating agreements (LLCs)
- Trust agreements and amendments
- Articles of incorporation
- Bylaws
- Partnership agreements
- Tax returns
- Annual reports
Add notes
Document important information about the business:Delete a business
You must unlink all custodian accounts before deleting a business.
Best practices
Naming conventions
Use consistent naming across business records:- Include entity type: “Smith Family Trust” not just “Smith Trust”
- Use legal names, not informal names
- Add distinguishing details for similar entities
Keep ownership current
- Update ownership when changes occur
- Document the effective date of changes
- Keep percentages totaling 100%
Document organization
- Upload key documents promptly
- Use consistent document type labels
- Include version dates in filenames