founding my own business (need some basics)

[flexy]

if i, as an individual, want my own business, say, for starters, owning a website which generates revenue etc..etc..

Are there any important steps to take ?

I mean i am aware that i need to tax my income, but. eg....does it have an advantage to found an LLC as an individual ?

Can i, if i am NOT an LLC, just *say* i have/own a business...give my business some name and then start (or try) making money with it ?

What if i want to go into re-selling wholesale....etc...etc.

I signed up at certain places and it looks as an individual i only need to give them my SSN for tax-purposes.....eg. if i'd to generate revenue as an affiliate.

What is a "tax ID" ? How do i get one...and where would i need one ?

Need some help there

Thanks

 

[AgaBoogaBoo]

Tax ID ---> http://www.irs.gov/businesses/small/article/0,,id=98350,00.html

 

[UFOfreak]

First you need a well drawn out plan on a piece of paper. Like a resume but a lot more detailed. I can help you if you would like.

 

[AgaBoogaBoo]

Originally posted by: UFOfreak
First you need a well drawn out plan on a piece of paper. Like a resume but a lot more detailed. I can help you if you would like.

Yeah, there's a lot of help out there, I wouldn't mind helping either, nor probably would many other AT'ers.

 

[JoeFahey]

Originally posted by: UFOfreak
First you need a well drawn out plan on a piece of paper. Like a resume but a lot more detailed. I can help you if you would like.

**snickers**

 

[Rogodin2]

You actually have two tax identifiers. One identification number is for the federal government and the second tax ID is for state government. You have to pay both government taxes as a business owner-if you don't go corporate you pay quaterly, if you do, you pay monthly to your state's department of revenue. You will also have to pay a minimal yearly fee to maintain your corporate business liscense.

I only do retail and service buisness. I don't know about wholesale. You can sign up for a state business ID over the internet or you can go to your city hall.

Rogo

 

[dartworth]

http://www.sba.gov/il/

 

[Rogodin2]

**snickers**

What's your problem m8? Trying to jump that post count lad?

Rogo