If attempting to start a small business, is it best to start with hobby taxid or sole proprietorship?
369201
Best re-ask your question in the economy section
58481
It depends on your interests. All small businesses start off slowly, so it's best to start one that you are happy to work with. Mine took a few years to really start making profit. I was breaking even, but that is because I was putting my earnings back into my business. Now I update as I need to, and still have profit. Good luck!
446912
If you're going to be employed then there's no need to worry about setting up a limited company. You will be paid on commission, which to my understanding, will highly depend on how much you put in to your work, e.g how much sales you make etc.\nOn the flip side, if you're forming your own comapny, I'ld advise you to form an LLC or limited liablity company, which has a lot of advantages mainly, that you will not be held personally liable should your company be sued!
21741
I would Start By Looking At The Small Business Adminstration and Viewing Your Options On Different Types..
744663
What's a merchant account business? \n\nI know that to start a business you need to register with your state so that you can show them your earnings every year and turn over any sales tax collected from in-state customers. Then you need to find out if your business is the kind that requires a special license like tattoo artists or food vendors. Then decide where you want to sell. To stores? From your own store? Online? Your approach will be different based on what you decide.\n\nOther things to consider:\nDo you have the money to get supplies and get started, or will you need a loan? \nDo you need any special zoning in your neighborhood?\nGet a workbook from a tax preparer that shows you what items to keep track of, for expenses and income.
74414
to start, you should apply to different accounting agencies. OR start your own company.
263821
Tax wise it is better to go with an independent contractor. You do not have to pay their federal, state or local taxes you could pay them on a 1099 and they would be responsible for the taxes. Also you might get a discount on workers' compensation insurance since it is one less "employee" There are tax rules on who is considered an independent contractor like control of job and ownership of tools. Make sure you are compliant with those rules.
615805
http://www.sba.gov/starting_business/\n\nThis is a very informative site from the Small Business Administration.
121983
Quicker Tax Preparation: As a sole proprietor, filing your taxes is generally easier than a corporation.Simply file an individual income tax return (IRS Form 1040) including your business losses and profits. Your individual and business income are considered the same and self-employed tax implications will apply.\n\n\nLower Start-up Costs: Limited capital is a reality for many startups and small businesses. The costs of setting up and operating a corporation involves higher set-up fees and special forms. It's also not uncommon for a lawyer to be involved in forming a corporation.\n\n\nEase of Money Handling: Handling money for the business is easier than other legal business structures. No payroll set-up is required to pay yourself. To make it even easier, set up a separate bank account to keep your business funds separate and avoid co-mingling personal and business activities.
1104235
Generally you won't need any license. Though be sure to check your states laws regarding small business'. Many of them require you have a tax ID number for paying and collecting taxes.
536843
You may wish to contact the SBA ( http://www.sba.gov/ ) or SCORE ( http://www.score.org/ ) for help in starting a business.  They are excellent resources for a small business just starting out (and free, too!).  You should also look into either setting up a corporation of LLC to protect yourself legally.  Contact your state for the guideline involved in that.
526789
The license you need depends on the type of business you want to do.\nYou should seriously consider if you really want to have a sole proprietorship. This type of business structure will not protect your personal assets from litigation.\nThe cost of an LLC or an S Corp is well worth the protection it provides.
126934
A sole proprietorship is the simplest of business forms - it began when the first person sold something to another person, millienia ago.
459351
First off what I would do is do a community center and find out the diffrences between not for profilt and non profit because on one you are allowed to make money but on the other you are not i cannot remember the diffrence however if you do it that way you are looking at a liot of goverment assistance and tax breaks
250761
I think Flat tax is best. First of all people that make lots of money have smart bankers and accountants they probably pay less taxes then most. When people ask me how much money I make my answer is as little as humanly possible. The corpration tax entity unleveled the playing field for the smart and self employed. Corps pay there taxes last and only after they've spent and hid all they can. Employees or sheep pay first and pay up the butt. bottom line learn the system becoming a sub contractor and incorporate in Belize.
961954
My guess is that you'll need your own insurance, for your gear etc. and maybe public liability insurance (in case your deck falls on someone for example) But I'd check out the web to find out how to contact Business Enterprise Agency, I believe they have every piece of information you need about setting up a small business. Good luck mate!
409466
You should file schdule C for your Ebay business. You first account your sales from ebay, then you account your business expenses: cost to acquire the items for sale, ebay fees, paypal fees, shipping fees, advertisement, auto expenses, home office deduction, telephone expenses, supplies etc. The difference of sales and expense is the net income which is subject both income tax and selfemployed tax. Schedule C is complicated, please seek a qualified tax professional.\n\nZhicheng Lai\nEnrolled Agent