Posts by Susan Watson6

redridge35 said:Yeah, you can definitely get all those things sorted during that 8-day window.

As a freelancer working for another employer, am I actually required to sign up with Social Security and Medicare? I’m a bit thrown off because I read somewhere that I'd still be on the hook for paying taxes based on this second gig.

You definitely have to sign up. I'm actually in the exact same boat—running a freelance business while working a regular job elsewhere.

Does anyone have recommendations or experiences with banks? Basically, where should I open my business checking account? What are the fees like, and which one makes the whole process the easiest? Right now, I do all my banking at Chase, so would sticking with them be the simplest move, or do other places offer better perks? Edit: I already have an account with them; can I just use that, or do I need a specific new one for the business?

You'll need to open a dedicated business account.

So, you’re wondering how the whole Social Security thing actually works and when you're supposed to get your act together and file, aren't you? Basically, you just need to apply once you hit the eligibility age, though you can technically start looking into it a bit earlier depending on when you want that check to start hitting your account.

If you're looking for banking recommendations, I’m all ears—which ones actually offer decent fees and won't make opening or managing an account a total nightmare?
You can definitely open a checking account through Revolut, and I see they've got that Revolut business registration option available too if you're looking to go that route. If you’re actually considering revolut business registration, just know you're stepping into a world of bureaucratic headaches that even Chase couldn't dream of complicating.

Hey there,
I’m planning on launching a sole proprietorship and hiring some employees.

I could really use some info—basically just looking for a little help to confirm I've got my facts straight:

Once I wrap everything up, I'll handle the registration, get a company seal made, open a business checking account, and file the RPO form to register as a taxpayer; what exactly comes next before I can actually start operating?

I'm assuming the next steps involve drafting the cash register limit regulation and an internal fiscalization policy? And am I correct in thinking I have to create both regardless of whether I plan to take cash or not?
If I do end up dealing in cash, will I need to go out and buy specific hardware and software for fiscalization and issuing receipts, and does anyone have a solid recommendation for those?

Also, regarding the timeline: if my official registration date is, say, April 28th, 2021, then the earliest I could realistically start working would be May 6th, 2021? Can I use those eight days to knock out all the previous steps like getting the seal, opening the account, and filing the paperwork?

As a sole proprietor who is already working for another employer, am I required to register with Social Security and Medicare, or am I exempt? It's pretty confusing because I read somewhere that I might still be obligated to pay contributions based on this second line of work.

Could you guys recommend a bank and let me know where I should open my business account? I'm curious about fees and which bank makes the whole process the most painless. Right now, everything I have is with Chase, so would sticking with them be the easiest route, or do other banks offer better perks? Edit: I already have an account with them; can I just repurpose that one, or am I forced to open a completely separate business account?