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View Full Version : Question for Business Owners
mountainview
11-09-2005, 09:15 AM
My husband and I both have full time jobs as programmers but it seems that we keep working on small projects on side to help someone.In the begining they were small, you know for $400- $500 per year, but now the projects are becoming regular and paying more money. Sofor tax purposes we thought it would be good to open a business andget paidunder the business name. This is all new to us. We never thought we will be doing this but here we are. I need some guidance in to how to start the business, what is involved, and web site referrances would be great.
Thanks in advance.
Thanks in advance.
vjnoone
11-10-2005, 07:44 PM
You know I have the same question. Once we started making more I
claimed a home office but never under a business name.
Sorry I can't be more help.
claimed a home office but never under a business name.
Sorry I can't be more help.
chrlstoncharmed
11-11-2005, 06:57 AM
My state website had information on what forms I needed to file. All I had to do was register my firm name with the county register of deeds office for $11.00.
I found a chart on the IRS site that expalins what forms a sole proprietor is liable for. They are:
<UL>
<LI>1040</LI>
<LI>1040-ES estimated tax</LI>
<LI>1040 schedule SD self-employment tax</LI>
<LI>940 & 8109 *if* you have employees</LI>
<LI>Excise taxes</LI>[/list]
I found a chart on the IRS site that expalins what forms a sole proprietor is liable for. They are:
<UL>
<LI>1040</LI>
<LI>1040-ES estimated tax</LI>
<LI>1040 schedule SD self-employment tax</LI>
<LI>940 & 8109 *if* you have employees</LI>
<LI>Excise taxes</LI>[/list]
nolacoop
11-11-2005, 07:03 AM
The best place to start is with your State's Secretary of State. You may be able to find a web site for them, but if you can't they will be in the phone book under government.
You'll need to find out if you have to collect sales tax on your services (in most cases you won't), and you'll need to file all the forms to register your business.
In my state you do not need a business license unless you have customers coming to your office. It varies from state to state (I've moved my business to different states 3 times), so the best place to start is with the Secretary of State or the Department of Revenue.
Good Luck! smileys/smiley1.gif
You'll need to find out if you have to collect sales tax on your services (in most cases you won't), and you'll need to file all the forms to register your business.
In my state you do not need a business license unless you have customers coming to your office. It varies from state to state (I've moved my business to different states 3 times), so the best place to start is with the Secretary of State or the Department of Revenue.
Good Luck! smileys/smiley1.gif
mydaughters&me
11-17-2005, 08:56 AM
That sounds great for you two to start your own business and if you search under your county and state.. You should be able to find the forms you need to file..
