What are the most important things to sort out when you are going self employed?
349265
Keep in the back of your mind that 96% of all new businesses go under in the first 3 years.  Use this as motivation to push harder.  Depending on the type of business you will need several types of insurance.  Here is a good resource: http://www.findlocalinsurance.com\nKnow that your income will vary.  Keep money saved for a bad month.
234520
What you want the space for, anymodifications you will need or make, time you expect to need the space, insurance info, business referances, any information you might feel relivent about your business, a very breif resume if its your first business and ask the renter if they requier and spacific info as well.
218562
Coming from a man who is self employed you need to be aggressive. Now you can be aggressive without being pushy. The first way to drum up new business is to start with your current clients if you have any. Now assuming you have clients make sure you treat them great give good service etc. After that ask for referrals. Make sure you tell them to have their sister, brother, cousin, aunt, whoever they know to come to you. Second give them a reason to. Let them know if they help you, you will help them. Give discounts or free haircut for a referral. Third get out into the community join groups get to know people let them know about your business and what you do. People will come to you just because they associate with you. Try to put an announcement in a newspaper or flier or such so people know you are out there. Just most of all do a great job keep the customer happy and smiling and you'll be really successful.
1028776
It all depends on how you formed your business.\n\nIf it is something you did yourself, as a sole proprietor, and you are the only one working with the business then you really don't need to do anything further than reporting the income and expenses on your schedule C.\n\nIf you had formed a legal partnership or corporation you will need to file the appropriate tax form each year.\n\nAND if you have anyone else working for you, especially non-family, you need to get yourself a FEIN (Federal Employer Identification Number), withhold payroll and income taxes, register with the state and pay both levels of unemployment (depending on the state).  If you have reached this level of complexity, I would contact a CPA or other bookkeeping firm that can get you on track.\n\nLike to self read?  There is plenty of information at the IRS website.  :)  Good luck!!
1075728
Both.\n\nalso: cell phones, part of the electric if your office is in your home, part of the rent/mortgage if the office is in your home, all supplies, everything business related can be written off.\n\nCheck with your tax consultant on any items you are unsure of.
93385
I don't know what industry you were in but from my experience after I was "downsized" I have not been able to come even close to what I was making in a "job. However, now that I started my own business, I am getting closer. \n\nI started my own cleaning service and things are looking good. It's easy to start and you can too. A job is just a job. The owner is the one that keeps most of the profits.\n\nIf you would like to work part time and make some really good cash, you owe it to yourself to at least check this out. If you don't, what will you be leaving unanswered?\n\nTo your success.
1014188
Unless you register your business, it's called self-proprietorship. Don't forget to do your taxes.
781209
WITH all of the talk about corporate downsizing, it seems that now is a good time to become your own boss.\n\nBut starting a business requires a lot more than dreams of independence, unfettered creativity and a pot of money at the end of the rainbow. It requires would-be entrepreneurs to map out a plan for success and to stick with it.\n\nWhile it's good to have a certain degree of caution about branching out on your own, experts like Walt F.J. Goodridge, author of Turn Your Passion Into Profit, says that wariness can sometimes result in paralysis, or "entrepreneurophobia." The solution, according to Goodridge and other financial experts, is to tackle the thing you're most afraid of. "It may not always be easy, but it will always be worth it," Goodridge writes. "Remember, you can always find excuses not to do something you're afraid of."\n\n\n Develop a Unique Idea. Experts agree that a successful business needs to satisfy distinct needs or interests. Use the problems you have experienced at past jobs, or in life in general, to develop an entrepreneurial idea. Consider turning your passion into a business. Focus on a segment of the community that is underserved and develop ways to provide needed or desired services to that segment.\n\nDefine and Research Your Market. Know your target market. Define age, race, income level, and any other category of consumers you want to reach. Targeting your market makes it easier to design your products or services to meet consumer needs. You can always expand your business to other groups. Before launching a product or service, study the market to predict the necessity for your services. Information can be gathered at the library and online.\n\nDevelop a Business Plan. Experts strongly warn against skipping this step. Although a plan can be mapped out mentally, experts say you should put your ideas on paper. Record your ideas in a notebook, and map out a step-by-step plan to start your business. Call schools in your area or check newspapers for classes on developing business plans.\n\nFinance Your Business. This is the biggest hurdle for most would-be entrepreneurs. Start your business part-time, while keeping your full-time job. This route ensures a steady income, health insurance, and stability until your business is self-sufficient. Save enough cash to last at least six months if you plan to quit your job. Other options include bank loans, grants and borrowing from family or close friends.\n\nLocation, Location, Location. When choosing a location, consider the cost of utilities and rent. Other factors include foot traffic, accessibility to targeted customers, competition, demographics and proximity to other businesses. As a cost-saving move, consider starting as a home-based business. Ask local organizations such as churches, schools and community centers to lease you space for less money than traditional means or in exchange for your volunteer services.\n\nMedia Campaign. Experts advise exploring all possible avenues to make people aware of your business. Word of mouth is one of the most productive advertising tactics. Other strategies include newspapers, flyers, business cards and developing a Web site.\n\nThese tips could put you on that road to the financial security you have always dreamed of, but be cautious. "Success in business is never automatic," according to the United States Small Business Association. "It isn't strictly based on luck--although a little never hurts. It depends primarily on the owner's foresight and organization. Even then, of course, there are no guarantees."
126146
net income\ncash flow\nquick ratio\nshareholders or owners equity\nrevenues\naudited statement vs. compilation\ndisclosures\nnotes to financial statements\nany warnings in auditors letter re: going concern or other potential problems
554935
Just like starting any business, working for yourself is a lot of hard work.  But since you are the boss, sky is the limit as far as earnings potential.  And yes, when you are more established, you can hire accountants to do the work and make money for you.
755625
Actually , the IRS can help.\nGo to IRS website To ask questions & get appropriate forms.\nAlso, a tax preparation service (H&R Block etc) can help you w/ forms & filing.\nKeep a ledger of all income & expenditures \nSave all your business related expense receipts.( busness cards,\nrecording media,equipment, performance insurance ...everything)\nBusiness expenses are tax deductible.\nYou can file as an independent contractor in which case it is your responsibility to report & pay taxes on income.\nIf you must or choose to incorporate, the rules change.\nA financial advisor or tax preparer can get you on right track esp if it is your sole source of income.
360052
I haven't been self employed as long as you but I understand what you're going through. The main drawback of being self employed is that there are so many problems and responsibilities that you must deal with on a daily basis and sometimes that can be discouraging. When you're working for a boss in 9 to 5 job you only have to worry about work from 9 to 5. When you own your own business you have to worry about work 24 hours a day 7 days a week.\n\nMy suggestion is you step back and take a look at your business and think of ways to make it grow. Revamp your image, advertise, and try a new angle. When you change your business for the better you gain a new sense of accomplishment and pride and this will motivate you to work better and eventually it will increase your profits. When you're doing something you love it's hard to fail. Work becomes fun and refreshing and you'll see yourself happier and more productive.\n\nDon't give up now. Try something new and exciting with your business and I assure you that you'll remember why you started in the first place!\n\nI run a clothing company and I'm constantly faced with the same problems but I love what I do and business has never been better.\n\n~Mark Lim\n\nhttp://www.poisonappleshirts.com
389442
Don't lie be very truthful. hopefully you have saved all of your information into a nice file folder for the last three years because I believe that's how far back they can go. If not gather that info from the necessary sources and send copies in by certified mail. If they are coming to you, be prepared to sit all day. If you are self employed you should make it a habit of keeping your books up to date and saving all pertinent receipts. As long as you know the info is correct on your previous taxes, you have nothing to worry about.
410526
Is this a serious question????  Come on man....you know that you have to pay your taxes, especially if you are self-employed.  Ignorance is not an excuse that will work in a court of law.....\n\nYou really need to know what you are getting into before running out and starting a business....really.....
675893
Depends on what you're looking for, which state you reside in and your job. See if there's a group or association in the industry you're in that sponsors a health insurance plan that you would be eligible for--not only would it be cheaper than going on your own, chances are it would also include vision care and a dental plan. Otherwise you will have to construct those three parts piecemeal.\n\nAnother option is to see if you qualify for the plan that your largest client offers its employees. Even though you are self-employed, you may still be eligible, or could work that into part of your compensation/contract.
21741
I would Start By Looking At The Small Business Adminstration and Viewing Your Options On Different Types..
454124
Not in the United States.  These laws are geared toward maternity, illness in the family, etc.  If you want to start a business and wanted time off of a job where you worked for me, I would tell you to make a choice.....either you work for me or you want to be self-employed.  If you are working to get to the latter, then realistically, do this nights and weekends and build up your business to a point where you can afford to quit your day job.