Starting Your Own Business

A commonly asked question I get is, "How do I start my own business?" There are a lot of elements that go into starting your own business, so it can seem overwhelming at first, especially when you have no prior experience or education in this area.
First, you have to decide what type of business you want to start. Don't just chase after the money. Money doesn't buy happiness, we hear that time and time again. Invest in something you are passionate about. If you love what you are doing and the products you are providing to others, believe me, the money will follow. 

Get Legal

After you figure out what your business will be, get legal. You don't want the IRS to be chasing after you or to get sued for something that could have been avoided.  1. Choose your business name 2. Register your business name 3. Register with state agencies
When you are registering with state agencies, you need to decide what type of business structure you will be operating under. There are many different types: Sole Proprietorship, Partnerships, Corporations, S Corporations, and Limited Liability Company (LLC). Each type has its pros and cons, so decide which one is best for you. 

Steps for starting a small business:

1. Select a business structure 2. Register with state agencies 3. Apply for Employer Identification Number (EIN) 4. Choose a tax year If you have employees, have them fill out form I-9 5. Pay your business taxes
This is just general information on how to start your own business. All of these topics go much further in depth. If you have any questions, please comment below or feel free to contact me.