starting a business

marekz

marekz

Joined
Jun 16, 2008
Messages
1,699
can someone tell me what i need to do to start up a small business-refering to1. i need a business licsence. but how to you work out the taxes and what forms do ineed to get for this venture. thank you marekz
 
Check and see if there's a SCORE chapter in your area. (Service Corps of Retired Executives, I think that's what it stands for.) It's a non-profit group that gives advice to people looking to start a business.

Give your local Chamber of Commerce a call, they might be able to help.

Do you know any accountants? I bet they would have some advice.

Check with your city or county clerk of courts; they might give you a heads-up, especially on zoning laws. I've heard that some places are really picky about zoning home-businesses.

Call President Obama... he's throwing gazillions of dollars around to stimulate the economy; maybe there's a piece of that pie for little guys like us?!?

I'm in the same boat as you pretty much; this post is kind of a to-do-list for me. I got the application for a business license from my local state revenue office, but they were ZERO help otherwise. :mad:
 
SBA has tips on line.
Don't forget insurance.
State reseller's permit.
Consider forming an LLC.
Find someone you know locally who started business and pick his brain.
Keep accurate records of everything you do and buy (expenses).
Make a business plan. Failing to make a business plan is planning to fail.
 
If you have a University or College nearby check with their Business college/dept. Ours locally is very active and helpful
 
thanks yall, now im thinking of a business name hum- im mostly going to be selling my knives and wood blanks/scales. i plan on getting it together by the fall so i can claim it on my taxes. i put much money in it over the years -its too bad you cant deduct from 2 years ago when i started investing towards my business. in the begining im going to be selling my knives dirt cheap. i have a few i made that i gave away or sold to people for less than cost. this is ofcourse is a part time idea, i still have much to learn and focus on.this forum has helped me soo much along the way--without it i would not know 75% of what i know now. now its time to practice practice practice. thank youall for all your guidance now and in the future--marekz
 
If you bought those items personally (with your personal funds), when you form a seperate business entity like an LLC you can then sell those to your business. You should consult your accountant on how to do this, how to minimize the tax liability and make sure you are meeting federal and state tax laws.
 
I have been doing the small business thing since 1991, in upstate NY it has been easy. I went to the county courthouse, got a "DBA" certificate (doing business under an assumed name) that certificate was necessary for the bank to allow me to open a business account.
The taxes are easy, for the business there is the schedule C, and the schedule SE.
Keep all the reciepts, don't let the taxes scare you, they are not that much of a problem and I was able to write off all sorts of things

-Page
 
sunshadow said:
I have been doing the small business thing since 1991, in upstate NY it has been easy. I went to the county courthouse, got a "DBA" certificate (doing business under an assumed name) that certificate was necessary for the bank to allow me to open a business account.
The taxes are easy, for the business there is the schedule C, and the schedule SE.
Keep all the reciepts, don't let the taxes scare you, they are not that much of a problem and I was able to write off all sorts of things

-Page
Click to expand...

Texas is about as easy as that, too. The courthouse will get you the DBA and the tax ID. When that comes in the mail it has instructions about how and when to calculate and send taxes in to Uncle Sam. Pretty simple, really. And you can write off almost anything, even part of rent/mortgage payments if you work from home. And internet (because you use it to do research) and phone and a lot of your car...
 
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