Too legit to quit - lotsa questions.

[Marc Brubaker]

Hey folks,

Is there a particular order that makes sense when trying to set up your business? At the moment, this is job number two - however, I have plans to make it my only job, and I'd like to make sure I get everything set up properly.

I know I need a DBA, and a Sales Tax ID - I know where/how to do that. If I am going to run as sole owner, do I need to register a Sole Proprietorship, and if so where do I have to do that?

I am currently renting, with no plans in the near future to buy a home. I feel a bit odd registering a business to a home address that is not mine, for several reasons - would it be best if I just got a PO Box solely for the business address? I am not certain what legal ramifications could come down the pipe, but I'm certain I wouldn't want to deal with them.

Which brings me to business expenses and whatnot - I'm guessing it's smarter to set up a separate bank account for the business itself.

I'll be looking into PPA, insurance and the like later. At the amount of business I'm conducting, I'll be fine delaying those decisions for a couple months. I'd really like to start laying solid groundwork on all the initial stuff.

I know this place is a treasure trove of information - and I've been digging around looking for answers to these questions, with much success, so I'm not just posting this out of ignorance. Lots of my questions have been answered as to what needs to be done, but now my main question revolves around the order of how to go about it.

Thanks in advance for all the input. Is there a person I should go to in town for advice about setting up a business [i.e. CPA?] ... how do I find one?

- Marc

[Tom]

I think because you may move a bit, you may want to get a PO Box for your business. Then you don't have to keep switching the address.

I did the Sales Tax stuff online, then a couple days later, went down to the courthouse and got my DBA. Both took just a few minutes.

Definitely get a separate business account. Much easier to keep track of everything. And keep all your receipts. I went to officemax and got a little folder deal for receipts. You will need them all later, I am sure.

You probably want Quicken Home/Business software as well to keep track of everything. H&R Block has Tax Deduction Software that my CPA suggested I get as well.

[toverman]

Poke around the Small Business Association's Web site, and look into any local resources available. That might give you an extra boost in setting up your business.

Sales tax ID is a must (and you're on track with that). Also important to keep detailed records and pay sales tax when you get the notice in the mail. In fact, you're legally supposed to pay it even if they don't send you a notice (but they usually will).

Good luck!