Why It’s Important to Get All Your Ducks in a Row…
Once you realize that you have a good business idea that will succeed, it’s time to get your ducks in a row. Set up your business so that everything is legal and above board.
While it can seem confusing and too hard to legitimize your online business, you’re going to be glad you did because it’s going to save you a lot of problems in the long run to have everything legal.
In this series, you’re going to learn the steps to take to turn your side hustle into a legitimate business by:
- Choosing a name that you can legally use
- Registering your business name
- Setting up your finances and accounting system and process
- Choosing your business structure
- Obtaining your federal tax ID number
- Understanding the laws regarding employees versus contractors
- Getting the required permits and licensure
- Protecting your intellectual property
- Protecting your family and partners
- Opening a business bank account
- And so much more…
After you get everything set up, it’ll be easier to renew everything each year, keep track of your income and expenses, and meet all the legal requirements placed on you by the federal and local governments so that you can do business.
The truth is, the first day you charge money for something is the first day you’re in business.
First, don’t worry. You got this. You can legitimize your business now, and it’s not that hard to accomplish. Just slightly confusing if you haven’t ever done it.
Keep in mind that the information given is regarding the USA; however, most countries have similar rules and regulations. Although, some of the terminologies may be different in other countries.
In this special report I cover what you need to consider to set up your business. If learning this is of interest to you then go ahead and download this Special Report:
To download this special report, right-click on the link below (ctrl-click on a Mac) and choose “Save As”. (On some computers, it will say “Save Target As” or “Save Link As”. These are all the same thing.)