|
  |
|
|
Starting A Business As A Sole Proprietor
Starting a business is a daunting task. There are so many variables and pitfalls. One thing you DON'T need when first getting started is a huge legal and administrative entanglement. It's tempting to head down the incorporation road. The lure of tax benefits, retirement planning, and enhanced liability protection is a strong one. But, as long as you are going to be the only owner, and you're starting small, a sole proprietorship is perfect, in most cases. Walk before your run. It's relatively easy to move up from a sole proprietorship to a corporation when the timing is right. Anyone who tells you different is misinformed. What do you need to become a sole proprietor? Not much. A phone. An address. An Internet connection. In some cases, a city business license. If you are going to be selling physical goods that carry sales taxes, see your state and/or local tax authorities for the proper paperwork. Do you need a Federal ID number? Nope. Unless you plan to hire employees. Do you need a lawyer or an accountant? Not really. Both are handy to have on your side, but you should refrain from spending money on expensive legal retainers or tax and bookkeeping fees - at least until you have a solid profit to discuss with them! If you are operating as a professional, in any sort of regulated industry, make sure you have whatever certifications or compliance paperwork is the norm for that industry. Operating on the fringes will produce more problems than you can imagine. Do you need a business name? Unless absolutely essential in your field, consider just using your own name. You probably need to brand yourself as THE go-to person for the product or service you are providing anyway. Fictitious names can wait until you are bigger. |
|
 |
|
No reactions yet.
Please login or sign up to rate this intel.
Please login or sign up to add a comment.
The copyright for this content entitled "Starting A Business As A Sole Proprietor" has been specified by the contributor as:
All Rights Reserved
This content may not be copied, distributed or adapted by anyone under any circumstances.
|
|
May, 2012
2008
January, February, March, April, May, June, July, August, September, October, November, December
2009
January, February, March, April, May, June, July, August, September, October, November, December
2010
January, February, March, April, May, June, July, August, September, October, November, December
2011
January, February, March, April, May, June, July, August, September, October, November, December
2012
January, February, March, April, May
|
|
Not a member yet?
Qondio is a powerful network for making it online. If you have a website to
promote, we can help.
Sign up and get in on the action.
|
|
Welcome to Qondio! Discover the awesome power this network can deliver by going to our About page. Or you could skip straight to the Sign Up form.
|
|
