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I want to start a very small business out of my home in New York State. It is more of a craft/service business that will not involve stocking or selling products. I think I may have to get a DBA, but do I need to fill out other forms first, or is that my first step? I guess it would be a sole proprietorship, or is that even necessary at this point? And what about tax forms or claiming any profits I make. I really am clueless about this! I need a step-by-step idea of what I need to be legal and ready to start placing ads in the paper, etc. Thank you sooooo much to whoever might answer this! :)
1. business cards 2. web site 3. cell phone or land line just for work (on biz card) 4. DBA there is no form....it stands for "doing business as" 5. Best way to deal with taxes is get an accountant, a good one. the amount they will save you yearly will easily cover their cost. 6. If you do paperwork, track stuff, etc....I do recomend Quick Books Pro to deal with all your "business books". Its recognized by the IRS and almost every accountant has it, knows it, and prefers it. 7. Just go work, have fun, spread the word. If it is just you there is no real need to get into LLC, S corp, etc as this will only cost you money to do and if you are not big, don't have product, stock, etc.....its kind of like wrapping a hamburger up in silk when a foil wrapper will do. talk to the accountant, they will tell you how to set up your quick books, what catagories you'll need, what to track, miles, car expense, home office expense, etc. save every receipt for the business, even food, pop, etc. anything that is used for the business. I have been a DBA for the past 11 yrs in a specialized high line service for autos and its great. Great to be your own boss without all the legal mumbo jumbo of being an LLC or S corp. You yourself, your SS#, etc are the business....your tax ohio number is your SS#. And unless you are dealing with the public or selling an item, you shouldn't even need a license from the city. But still check into that, might need a sales tax ID, normally like $35 a year fee to the city that the business resides in. since you mentioned working at home, seperate work from home, as in its own room, etc. then you can write off that space from your rent or mortgage as rental space for the business. its not hard to start your own company......there is no mountain of red tape, no stack of forms, etc. its all myth.....just matter of wanting to be your own boss and having the drive and will to do it. good luck.....great to see another come to our side of the corporate world.
You can file for your DBA with your county Clerk of Courts, it usually costs less than $20. This gives you the ability to open a bank account in the company's name. Other than that, check with the New York Secretary of State to see if your business requires any special licensing or tax certificates: should be it to start up a sole propietorship. You will need to document all your business expenses in detail (receipts, mileage logs, etc) if you plan to use the costs of the business as a tax deduction.
I will suggest you to plan an advertisement strategy for your business. Today starting a new business is not that big challenge but actual challenge is to advertise that business in a better way. Start a business which has scope in your area. Whenever someone thinks to start new business first he/she should consider area (country, state and target customers) then make a proper strategy for new business.
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