Where do i start?

[RebelChick]

I know some of you have a home based business, and I would really like to get mine small side business underway. Where do I begin? I have started to design Invitations , announcements, Holiday cards with photos, etc. A few people who have "bought" from me have told me to go into business, because they love what I come up with so much. I have a few names in mind to name my business. but How do i get my self "legalized" so I can legally charge people and get my website under way? Do I need a Tax Idea number? how do i fill out taxes for it? How do I pay my taxes on it? Do i even need to go THAT far with it? Can I just list a flat price, and being its a Home based business, is there much technicalities to go into it? I don't need to copyright my name of the business because it will contain My name. Please help!

[gwenshack]

Every state is different, with laws and such.

In CA I had to get a state tax ID number, but my business is myself so I didn't go have to go much further than that. I don't have to copyright anything with personal training.

I would suggest you look go to www.sba.gov (http://www.sba.gov) - that's the website for the small business association. That will lead you in all the right directions.

Good luck! :)

[gwenshack]

http://www.irs.gov/localcontacts/article/0,,id=98284,00.html

This is specific to tax stuff in Maryland. Hope it helps!

[WebLady]

I would start by coming up with a business plan. Figure out what you need to get the business started, what you need to make to keep it going and to make a profit and all.

Then check your local laws on getting a business license and all.

Get a website too ;)

Good luck!

[saltyveruca]

Get a Tax ID *rightnow.* If you're getting paid from people within your state, you owe taxes and the comptroller will find you eventually. It's much better if you've been paying all along. Also, if you buy stuff in a retail setting in order to resell it, you don't have to pay taxes on it at the register. Sweet!

You will also need to look into income taxes, as you are probably considered a person who needs to make estimated payments (I am). Basically if you are generating income throughout the year that does not have social security, income tax, medicare, etc taken out of it before it comes to you, you'll have to split up your payments over the year-the government is not interested in waiting on that stuff. You will also need to file a Schedule C when April 15th comes around. Hopefully because you are new, you can file more losses than gains, and actually save money on your taxes. Last year, JD and I did this because we donated a ton of services to charity. Also, we got burned by a non paying client which sucked at the time but worked out well in the end. It totally saved our butts!

Get a DBA (Doing business as), which will help you...

Get a bank account to keep your business separate from your personal finances.

[MrsDM]

While it can be costly, hire an attorney. Most attorneys offer a free consultation, so you could consult with them to see what documents are needed to be filed with your state.