Doing the business of business

[Alicein]

I am just getting into the business of online business. What do I have to do to keep the state and federal government happy, especially if you sell a product? Did you register as a business with your state?

If anyone has any recommendations about this part of the business, I would appreciate it. I haven't been able to find any information about this anywhere else.

Thanks, Alicein

[Lynn Terry]

Hi Alicein, Welcome to SSWT

You wont need to do anything upfront. Of course, if you are going to have an alias or DBA (Doing Business As) name then you will need to set up a DBA account at your bank for cashing/depositing checks. Other than that, just get started.

Keep a record of all income & expenses along the way. At the end of your first year, you can file as sole proprietor and discuss details with your CPA or tax professional at that time - they will be able to advise you on the next best step.