The paperwork?

[Plasmah77]

Hi all quick question

Should I pay $300.00 to 500.00 dollars to file for my Business license and DBA using an online service?
Or should I just go to the town hall and do it myself?

Is it cheaper doing it myself and is it all that difficult for a newbie to fill out the paperwork?

Thanks

[Beavis]

I would just do it your self. It is really not that hard and way cheaper

[psdnuts]

very easy and not sure what state u in but its very easy…
all u need is a name that its not in use by anyone else. paperwork can be printed out on internet and pre filled

good luck.

[Plasmah77]

Thanks guys appreciate it. I'm in Florida. Glad to hear I'll be able to save some cash. Every penny counts

[Ebg18t]

Florida is super easy. No need to pay a service for it. you can do everything on Sunbiz.

[Plasmah77]

Ebg18t Thanks very much for that link. Awesome! Have a great one bud.

[Ebg18t]

Ebg18t Thanks very much for that link. Awesome! Have a great one bud.

It will take you 10 min. Just don't forget to pay your annual filing fee (~$150) every spring. If you forget it costs you ~$300.

[wdmaccord]

Are you filing a DBA under your personal name/SSN? If this is going to be something you make a lot of money doing, I would form and LLC S-Corp (K-1 instead of 1099). This will help you avoid a lot of self-employment tax.

I do all my own books on Quickbooks, file my quarterly state and federal returns, unemployment tax payments, payroll, etc. Just send my QB file to my CPA at the end of the year and he looks it over and does my 1120S and send me the K-1 to put in my personal return.

[Plasmah77]

Are you filing a DBA under your personal name/SSN? If this is going to be something you make a lot of money doing, I would form and LLC S-Corp (K-1 instead of 1099). This will help you avoid a lot of self-employment tax.

I do all my own books on Quickbooks, file my quarterly state and federal returns, unemployment tax payments, payroll, etc. Just send my QB file to my CPA at the end of the year and he looks it over and does my 1120S and send me the K-1 to put in my personal return.

Hi wdmaccord

I'm trying to keep things simple at the start. I figure a Business License+DBA+Liability insurance is the simplest path to get started with the lowest cost to me. I did do research on the differences and originally wanted to file as an LLC but after seeing all the extra paperwork and cost I was deterred from that course of action. I see a lot of people here and on other forums just starting out as DBA with insurance and it sounded good to me. I never started my own business and want to take it slow and careful. I have experience as far as detailing goes but my business sense is lacking. Needless to say I'm doing as much research as I can before I dive in. The scariest part all all this to me is the Taxes .

Thanks for the input appreciate it

[wdmaccord]

Hi wdmaccord

I'm trying to keep things simple at the start. I figure a Business License+DBA+Liability insurance is the simplest path to get started with the lowest cost to me. I did do research on the differences and originally wanted to file as an LLC but after seeing all the extra paperwork and cost I was deterred from that course of action. I see a lot of people here and on other forums just starting out as DBA with insurance and it sounded good to me. I never started my own business and want to take it slow and careful. I have experience as far as detailing goes but my business sense is lacking. Needless to say I'm doing as much research as I can before I dive in. The scariest part all all this to me is the Taxes .

Thanks for the input appreciate it

My suggestion would be try to find someone you know (or a friend knows) that is an accountant. Have them show you what a year of taxes would look like as 1099 vs. K-1. They should be able to do this assuming a couple different incomes, maybe like $25,000 and $50,000 for example and applying your tax situation (deductions, exemptions, etc). Let's say setting up an LLC costs you $500 more, but you might save $2000 in taxes the first year. Something you should take into consideration.

I have a finance and accounting background, so I wasn't scared about doing all the accounting and tax stuff (my accountant was always willing to guide me and answer questions along the way until I got my bearings also). But I can understand if you don't have this type of background, how it could be a little intimidating.