Help!!! trying to start a company but don't know where to start

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phally

Well-known member
Hey I will be getting some freelancing work soon and is worried about the tax issues coming forth.

So I am thinking of starting a company so the client can write the check to the company instead of to me. But I do not know where to start :(

getting a business license or getting a board or any of that other stuff.

any advice and feedback is welcomed.

p.s. I am mostly worried about the tax issue the most

thanks
 
Well your main issue is whether to incorporate or not. If not, you just go file a DBA with your local courthouse and basically you can open a checking account under that business name. All taxes, etc are still handled by you as personal income.

S-corp and C-corp setups are much more complicated. If you're not going to be doing alot of volume, you may just consider sole-proprietorship (mentioned above) for awhile and just hire a good CPA to help you with the taxes etc.

Just my 2cents
 
phally - Don't forget to report Kai's 2 cents as income or the IRS will getcha! LOL :)

I concur with Kai. Get a DBA (very cheap) and open a checking account. Test the waters first. If it looks like you're going to start doing a lot of business then take the extra effort to incorporate (to protect yourself). But, right now, just keep it simple and enjoy the work. Good luck!
 
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