Personal Development for Smart People Forums - View Single Post - When is a good time to do the tax side of business?

dgorila1 · 01-27-2007, 03:18 AM

First thing to do is find a good tax/business advisor. Just because you are not "formally" incorporated, you should still be able to deduct anything business related. The simplest business form is sole proprietorship, which requires alot less setup costs than incorporating. LLC would be the next level. A good business advisor can tell you which form of setup will be be best in your situation.
Where are you located? I may be able to refer the woman who does my taxes. She also sets up businesses - does all the legwork and setup for whatever business type would be best, does all the required local, state, and federal paperwork, gets the tax ID #, etc. I used her for this in a previous business I had. She is very good. Highly ethical and honest, and is an enrolled agent with the IRS. Basically this means she has passed stringent testing and certification by the IRS where all her paperwork, bookkeeping, etc is considered "audit proof" by them. I highly recommend her. Let me know if you are interested and where you are located. Thanks.

01-27-2007, 03:18 AM	#2 (permalink)
dgorila1 Member Join Date: Jan 2007 Posts: 61	Tax advice First thing to do is find a good tax/business advisor. Just because you are not "formally" incorporated, you should still be able to deduct anything business related. The simplest business form is sole proprietorship, which requires alot less setup costs than incorporating. LLC would be the next level. A good business advisor can tell you which form of setup will be be best in your situation. Where are you located? I may be able to refer the woman who does my taxes. She also sets up businesses - does all the legwork and setup for whatever business type would be best, does all the required local, state, and federal paperwork, gets the tax ID #, etc. I used her for this in a previous business I had. She is very good. Highly ethical and honest, and is an enrolled agent with the IRS. Basically this means she has passed stringent testing and certification by the IRS where all her paperwork, bookkeeping, etc is considered "audit proof" by them. I highly recommend her. Let me know if you are interested and where you are located. Thanks.