For those with business minds

[businessman]

What paperwork is necessary just to open the doors of an online business. I only want to know what paperwork really needs to be done? Any information will help regarding this topic.

[ofcdn]

There isn't any. it's all electronic :D However....at the end of the year...IRS will want their cut. Is there any risk involved...ie. insurance, liability, processing credit cards, accepting checks, shipping, inventory...etc... I won't even touch on employees. It really depends on what type of business and the product. Go to the local books store and grab a book on internet businesses. If it is a small and simple business you will not need to get the "big thick" book. A small paperback book. I believe there is an "Internet Business for Dummies" book. Not that you are dumb. I just love their quick reference books and the simplicity they offer.
Good Luck

[noctemdrgn]

Be sure to read up on business deductions too! you can write off a ton of stuff it is incorprated into you business. Such things would be your internet connections, a protion of your house (ie -rent, mortage), electricity, paper supplies, if you bought a new computer in order to run your business... one of the best things about running a business is the tax deductions. so be sure not to forget those.

[itshjem]

Glad to see that you have made the choice to step into your own business world. It is such an exciting endeavor a person can take in their life.

For tax and legal reasons you will need to determine what form your business will take; Sole Proprietorship, Partnership, Corporation, S Corporation, Limited Liability Corporation.

If you choose a Sole Proprietorship and choose to not have your business name the same name as your name you will need to file a DBA with the state. You can find all the forms and fees you need at http://www.sunbiz.org/ the Florida State site registering businesses. I believe a DBA is around $50 now. A DBA will allow your taxes to pass through on a personal level.

If you go with a DBA, you will need to setup a small business account with a bank for your new company name.

When you have that information completed. You need to pick a web host and register for a domain (website address).

After a domain and website has been chosen and your going to accept payments over the net you will need to setup a merchant account. One of the most basics is paypal, but there are numerous other integrated shopping carts and merchant accounts you can choose from.

Each one of these steps has paperwork involved and are important but quickly to complete.

Once this is all done. You can begin to operate your new business

I wish you the best with your choice and hope I supplied you with the information you needed to get you started. .

Jeff
http://sinergigroup.com
"Small Business & Technology Consulting"

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