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Entrepreneurship:  New Business Startup?  |
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peachy
True Blue Farmgirl
593 Posts
Melissa
Fennville
MI
USA
593 Posts |
 Posted - Jan 11 2009 : 3:37:14 PM
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I'm taking the plunge and hopefully in the very near future selling on etsy. I'm wondering do I need to register my business name, get a tax id etc? I did all of that when I sold my mosaics but I was at craft shows etc. selling and buying. I don't really need a tax id to buy things - everything I'm making pretty much comes from my house, hand me downs, thrift stores etc. Help!!!
Melissa
Farmgirl Sister #360
Life isn't about waiting for the storms to pass...it's about learning to dance in the rain! |
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willowtreecreek
True Blue Farmgirl
4813 Posts
Julie
Russell
AR
USA
4813 Posts |
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MsCwick
True Blue Farmgirl
775 Posts
Cristine
Farmville
Virginia
USA
775 Posts |
Posted - Jan 12 2009 : 08:19:59 AM
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I think it really depends on how much business you are anticipating. If this is going to be a full time job, then yes, you should. But this means registering with the state as a sole proprietor or Inc, etc. Once you are a legitimate business selling and collecting money, uncle sam wants his share too, so you will also have to register with the state to collect tax money also. (fairly easy, I file mine online each month based on my sales) You don't really have to have a Fed ID number unless you don't want to use your social.(I do this to keep business and personal ventures seperate) If you were to want to buy materials for some reason, you may need a Sales and Use tax certificate. (it would show the distributor that you are authorized to sell their product and will collect and pay taxes on it)
Hope this helped a bit..
any questions? email me
Cristine |
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peachy
True Blue Farmgirl
593 Posts
Melissa
Fennville
MI
USA
593 Posts |
Posted - Jan 12 2009 : 10:15:35 AM
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Thank you ladies! I might email you later this week with some questions Christine - they keep popping in my head, I'll start writing them down! Of course I would love this to be full time someday...for right now I'm just busy stocking up! What about registering a business name? How would that work with taxes and such?
Melissa
Farmgirl Sister #360
Life isn't about waiting for the storms to pass...it's about learning to dance in the rain! |
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Alee
True Blue Farmgirl
22941 Posts
Alee
Worland
Wy
USA
22941 Posts |
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peachy
True Blue Farmgirl
593 Posts
Melissa
Fennville
MI
USA
593 Posts |
Posted - Jan 13 2009 : 09:49:24 AM
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Thank you Alee, I never thought about that! Woohoo...I might do this yet!!!
Life isn't about waiting for the storms to pass...it's about learning to dance in the rain! |
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wild_rose
Farmgirl at Heart
3 Posts
Lea
Hansen
Idaho
USA
3 Posts |
Posted - Jan 24 2009 : 10:36:33 PM
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Melissa - the best source - has it ALL - is your regional Small Business Development Center. Its Free. They will tell you who else is doing what you are doing, average $$$, there are classes available from developing and writing a business plan to bookkeeping. If you go through their Business Plan course it gives you a boost toward getting approved for a Small Business Loan if that is what you are looking for. They can hook you up with mentors. You can speak with professionals (n/c) re: business setup, advertising, accounting etc etc. Most of them even have 'business incubators'. I get EXCITED about all the services. LOL
~Life is not a journey to the grave with the intention of arriving safely in a pretty & well-preserved body…
but rather to skid in broadside, thoroughly used-up, totally worn-out, loudly proclaiming
WOW! WHAT A RIDE...
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countrygal56
True Blue Farmgirl
221 Posts
Barbara
Dickson
Tennessee
USA
221 Posts |
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peachy
True Blue Farmgirl
593 Posts
Melissa
Fennville
MI
USA
593 Posts |
Posted - Jan 26 2009 : 07:22:18 AM
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Thank you for all the wonderful information! How do I go about finding the Small Business Development Center? Do I google it? I've never heard of this before!
Melissa
Farmgirl Sister #360
Life isn't about waiting for the storms to pass...it's about learning to dance in the rain! |
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Entrepreneurship: New Business Startup? |
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New Business Startup?
