What are the legal steps required to form your own business? ALL SPAM WILL BE REPORTED!?
SPAM WILL BE REPORTED
I have BS in CIS which, in my case, means I can write programs and make websites. I can make your normal websites and for programs think parental monitoring/keyloggers, e-commerce tools, video game cheats, small business solutions, webscrapers, etc.
I want to sell my skills on the side via my own small business. I will advertise online, in the newspaper, through ads posted to message boards, etc. I hope to make $100 profit a week doing this.
I can do the tech part but I?m not to sure what I need for the business part. What steps do I need to take to make my business official? If I buy a new computer is that a tax write off? How will this affect my other taxes? In other words, if I am listed as self employed wont that cause the money I make at my actual job to be taxed differently?
I live in Ohio
SPAM WILL BE REPORTED
Heres what ya do.. Get a business attorney. Look them up in the yellow pages and ask questions.. Your interviewing them.
Tell them what your wanting to do and let them give you an overall answer. I would look at a few based on experience, reliability (are they to busy to ever answer/return your calls) and Price..
Find out what will be best for you: LLC, S Corporation, C Corporation, partnership, etc.
Then get a state business license
then a good tax guy for your tax questions. Keep in mind to not just stay out of the tax stuff. This is something you want to become familiar with. Because if he/she ever messes up, you take the heat. So stay involved and learn..
start a business plan? never hurts? doing something is worth doing right the first time to the best of your abilities.
Expect to spend about $600-1500 on this.. not including the tax guy, they range.
On another note? how long does it take you to complete something or how many to make $100 a week doing this? You have to figure in, is the business service you provide profitable for your time? if not, this may just be a hobby on referral to make an extra couple bucks?
if it is profitable
Build a company and go big! you may start at $100 bucks a week but shoot for $1000, what would it take you to get there and go for it, brick by brick. goal set and take action
good luck buddy.
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