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Author Topic: Going into business for myself  (Read 260 times)

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Offline grdellTopic starter

Going into business for myself
« on: June 27, 2011, 11:34:19 AM »
I'm going mad from being unemployed too long. So insane, in fact, that I'm actually considering going into business for myself.

So I've started doing some research, but I'm not above accepting any advice from anyone else. If anybody knows of any really good resources, I'd appreciate a point in the right direction.

Thanks!

p.s. Of course, there's a lot of legal and tax-related stuff so obviously it would only apply to the U.S. where I live and my business would be.

Offline GothicFires

Re: Going into business for myself
« Reply #1 on: June 27, 2011, 11:46:04 AM »
The first thing you need to do is decide what kind of business you are going to be. A sole proprietorship, a partnership, limited liability or a corporation (sole proprietorship will use your social security number for a tax id). Then you need to decide on a business name. After that you have to look and see if that name is registered in your state. If not register it. if it is decide on a new name. Then you have to get a business licenses from your state. They should send a booklet on sales tax. What is taxable varies from state to state.

As for Federal taxes, you have to pay taxes 4 times a year. You can get that info of the irs website.
« Last Edit: June 27, 2011, 11:47:47 AM by GothicFires »