First decide on a business structure Bookkeeping as a Sole Proprietor, LLC/Corp, or Partnership.
Selling/Leasing or if wanting to buy or sell Bookkeeping merchandise, food, equipment requires a Seller's Permit.
All Bookkeeping Businesses Using a DBA doing business as name need a DBA Fictitious Business Name
Hiring Bookkeeping Workers Requires a Federal EIN and a State Tax Number EIN
Consult with a tax professional to ensure you're meeting all your federal, state, and local tax obligations.
If you choose to operate under a name other than your own, you may need to register your business name with your state or local government. This is typically done through a DBA (Doing Business As) registration. However, if you form an LLC or corporation, your business name will be registered as part of the formation process.
As a sole proprietor with no employees, operating a virtual bookkeeping business from home, you have several options for your business entity. The most common choices are:
Depending on your location and the specifics of your business, you may need to obtain various licenses and registrations. Common requirements include:
As a business owner, you'll need to register for various tax accounts and obligations, such as:
All Selling Online Businesses (Including Web based, Online, Websites, Home or eBay Businesses) that use a trade business name, need a(n) Sedgwick County DBA Business Name Registration
Retailers / Wholesalers, (Including Web based, Online, Websites, Home or eBay Businesses) Need a(n) KS Sellers Permit (A.K.A state id, wholesale, resale, reseller certificate).
Employers (Including Web based, Online, Websites, Home or eBay Businesses) Need a KS Federal Tax Id Number and a(n) KS State Employer Tax Number
Instead of filing a fictitious business name DBA Filing in Wichita, Incorporate in KS or form a(n) KS LLC
Wichita Example:
FAQs:
1. Do you have a sense of what business you would like to start?
2. Will be working by myself and be subject to self employment taxes and want to avoid or reduce them.
3. Another investor partner will be part owner of this business.
4. When do I need to get a business license? In what order do I get tax IDs and licenses?
5. What permits do I need?
6. When Should I File a DBA Doing Business As certificate?
7. Where should I go get a business license and regiser my business?
A: If you have a passion for being in your own business but do not know what business to start
A: Generally an S corporation is best in reducing self employrment taxes
A: You could get away without filing a dba if you used your name to do business but because you have a partner you will need both a dba and a business tax id number.
A: You need it immediately after or before you start a business. There is no order of getting licenses. You need to get them as soon as possible.
A: You need at least a business license and a DBA. If you selling taxable items, you will need a seller's permit. If you are an employer, you will need a federal and state employer number EIN.
A: You need to register an assumed fictitious business name within 30 days of starting your business.
A: Where to file a business license depends on the business state. Some you need to file at the state level others at the county level and yet others at the city level of government.