How do I start a business?

[Croton]

I want to start up a reselling business (specifically video/audio equipment) in my area.

How would I go about to apply for permits, liscenses, etc etc?

thanks!

 

[RU482]

As a sole proprietor, I don't think you need any permits or licenses.

Correct me if I'm wrong...and don't tell my local authorities

Just make sure you keep good books on your expenses and sales, so uncle sam can get his share

 

[Russ]

<< Correct me if I'm wrong >>



Okay, you're corrected.

Croton,

The licensing requirements vary from state to state, county to county, city to city, so it's not possible to provide accurate information here. Contact your state taxing authority.

Russ, NCNE

 

[Croton]

thanks for the info russ..

i live in Orange County -- next to Los Angeles County

i'll go to the county clerk's office to find out more..

anyone have any other advice for me?

 

[NakaNaka]

First you need to register your business name, and tell them you want to be a business. After that, just pay your taxes and you should be fine.

Get an accountant!

 

[perry]

Go to city hall and get a business license. Stop by the IRS office on your way home to get a tax form. Fill it out, call the 800 number, get your EIN. Sign the paperwork, send it in. You're in business.

It's actually a little better for tax and/or legal purposes if you form a corporation and hire yourself on. Get tricky, and make it a two person corporation. Have the other person lay you off and draw unemployment

 

[Xzaver]

<< &quot;How do I start A busines&quot; >>



First I recommend not doing so....at all!


If your younge Live!


If you really want to start a business then make sure you start by doing most of the work on your own at first., Then gradually get help little buy little.

Meditate

Inspire

Lead

Incorperate.

Bow....last.


Regards,
-Xzaver-

 

[lowtech1]

Is it going to be your primary or secondary source of income?

If it is your primary source of income then you will be expected to work more than 40 hours week (more likely to be 60~80 hours week), no vacation or sick time &amp; broke for the first 3~4 years.

The above requirements are what needed to start a business.


>> It's actually a little better for tax and/or legal purposes if you form a corporation and hire yourself on. Get tricky, and make it a two person corporation. Have the other person lay you off and draw unemployment <<

Don?t know what it is like in the US, but I?m assuming that it is similar or harder than Canada to collect unemployment.

Here in BC. Canada the owners or the employee is a family member of the employer is not allowed to collect unemployment except for fisherman.

And, could you trust the presidio owners if they aren?t your family to cheat the system???

 

[Tominator]

Step by Step in everyday language..
In Business for Yourself
Bruce Williams

VERY good read for anyone even considering it.

 

[yakawictz]

1st ... Go to the county city hall go to &quot;licensing dept&quot; and see if you are zoned properly for the type of business you plan to do. 2.) then decide on a business name and go to the dept. and see if anyone has taken it. 3) go to an abdjucated (I think that's what it is called) newspaper and have them run a &quot;ficticous name statement&quot; 4) Get your business license. 5) go to the &quot;State board of Equilization&quot; (Ca.) and get a resellers permit so you don't have to pay state sales tax. 6) Get a federal tax ID number (a book keeper can help you with this or just ask questions along the way. If you are going to have employees, take out a worker comp insurance policy or call a &quot;temp service&quot; and they will do everything. 7)Optional: get business insurance...it's expensive...many people wait to see if they will survive the first year. 8) start advertizing and make sure you have more money coming in than is going out ! 9) cross your fingers ...good luck

 

[Croton]

thanks for the advice guys.....

it's not going to be a big business...
i just want to start up a small electronics reselling business because me and a friend of mine both have very good contacts when it comes to audio/video equipment...

 

[hzl eyed grl]

Is it going to be in a building that you rent or lease? Or...is it going to be run out of your home? If it's run out of your home (At least where I was in CA.) you need to get a permit. Good luck. As everyone has said, keep excellent books. That is very important.

 

[zippy]

I hate to butt in, but I have a friend who is making a web site which he will be making money from eventually...will he need to make this a real business? I remember seeing somewhere that if you make less than $600 on a business then you don't need to pay taxes on it...I could be wrong. Should be declare it a real business and get everything situated so it is fully legal?