Starting a small business
in Business, Accounting & Taxes ·
rapidgull9 said:Maybe I’ve got this wrong, but when you look at how much easier and way cheaper it is to just set up a standard corporation, I honestly think it’s the smarter move. That’s exactly what led me to my own decision in this whole "sole proprietorship vs. corporation" debate.
As for whether or not I need an accountant? Honestly, asking that feels like asking if I need a primary care doctor versus a specialist dentist... it's a ridiculous comparison. Look, I apologize if my comment rubs anyone the wrong way, but I really wanted to point out that having a skilled, professional accountant is absolutely vital for any entrepreneur. I truly, sincerely hope that this "I can do it all myself" mentality falls apart once we are fully integrated into the USA. Once we're dealing with the massive complexity of tax laws where it isn't just one single rulebook anymore, but rather thousands of pages of regulations used by different states, people are going to realize they can't wing it. Maybe then, finally, this profession will actually get the respect it deserves.
Alright, so I understand now—a full corporation; but could someone please give me some advice on what the total startup costs might look like? I'm looking to launch a business selling secondhand clothing for kids and adults, and if anyone has any insight at all, I would be so incredibly grateful for the help! I completely get the point about needing an accountant, and there really wasn't any need for sarcasm. I live in a small town where a shop like this would be such a blessing to the community since so many people are either out of work or struggling with low wages, so as someone currently looking for employment, I'm just trying to see if I can use these new laws to open a business for $3.25. Thank you so much, any guidance is truly appreciated!