Home Based Business Advice to Help You Start Your Own Business! by Michele Miller - HTML preview

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Getting a Business License

This is not a difficult process. Once you have the right resources you will see how easy it is. People are most helpful along the way too and the forms come with full instructions. It's just a step by step process.

This website link will help you see what you need to do, no matter what State you live in. http://www.sba.gov/hotlist/license.html

The information you need about filing for a business license, fictitious name registration, or even how to file your taxes is available through the above website link.

Remember, before you can open up your business checking account, the bank will need to see your business license. So it's best to apply for this first. Once that's done, you take it to the bank and open up your business checking account. Check around first, as a lot of banks now offer free business checking for small businesses.

While there are variations by U.S. state, here are some general guidelines. (These are subject to change and must not be taken as legal advice). You do not need an employer ID number, (Tax ID number) if you are a sole proprietor with no employees, excise taxes, or pension plans. You can just use your social security number for identification. All others must request an EIN from the IRS.

Tax forms and procedures also vary depending whether you are a sole proprietor, corporation, or have a partnership. Usually, you pay your federal income taxes every quarter after the first fiscal year that you claim a gain rather than a loss on your business. (Please check with your bookkeeper or accountant to verify this information is still correct.)

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