Starting a small business

Justin Walker24 · 2002-12-20T00:44:18+00:00

So, I’m thinking about finally biting the bullet and starting my own small business, and honestly, my head is kind of spinning with all the moving parts! Does …

Kyle Wilson65 Newcomer

4 messages
joined Jul 2009

#381 · Jul 12, 2009

Thanks, Adam Taylor12 🙂

I get what you're saying regarding the liability differences between a sole proprietorship and an LLC, though I'm not exactly worried about going bankrupt 🙂
Are you absolutely certain that if I set up an LLC, I won't need a third party involved? For instance, if I launch a company and just list restaurant services as one of my primary business activities 🙂, hire myself and a buddy to cover different shifts, and just call it a day...

Anyway, thanks again...

silverbison293 Active Member

94 messages
joined Feb 2009

#382 · Jul 12, 2009

Sure, you don't strictly need a certified specialist just to set up an LLC—you mostly just have to watch those minimum technical requirements and make sure your health permits are in order... 😉

Kyle Wilson65 Newcomer

4 messages
joined Jul 2009

#383 · Jul 20, 2009

I mean, I’m pretty sure if I just set up an LLC, my partner and I wouldn't run into any major roadblocks, and we should be able to handle everything just fine, but there's still this nagging feeling in the back of my mind that I might be missing something... 🙂 I can't believe there isn't anyone here on the forum who actually works in the restaurant or cafe industry to help clear this up for me. Looking around at how things work, it seems like most local coffee shops are registered as sole proprietorships rather than full corporations, and that's what's really bothering me... I'm wondering if the real headache comes down to the tax implications, specifically regarding local municipal taxes or the sheer cost of bookkeeping, which I know is usually much simpler when you're running a small business instead of a larger entity. So, if anyone out there has a bit more experience launching a business like this, please feel free to share your thoughts here because it would probably help others too, or just shoot me a private message...

Thanks

silverbison293 Active Member

94 messages
joined Feb 2009

#384 · Jul 20, 2009

My advice? Find yourself a solid accountant and pick their brain properly. You can grab some general pointers here, sure, but for the love of God—and I mean this—do not base any actual business decisions on stuff you read on an internet forum. Use this as a rough compass at best. It’ll be better for you, and honestly, much cheaper in the long run, if you pay for professional expertise when you launch... rather than paying the massive price tag of fixing mistakes made because of ignorance. That kind of error will cost you dearly.

Do your homework. Look for an accountant with a stellar reputation, go in for a consultation, and check if they already handle clients in your specific industry. Ask questions, show some intuition, and play it smart—position yourself so that if they give you the right guidance, they walk away with a loyal client...

Man... it's a shame you aren't closer to Chicago.😉

Kyle Wilson65 Newcomer

4 messages
joined Jul 2009

#385 · Jul 20, 2009

Dante, thanks for the advice. I just walked through the door after sitting down with an accountant... He was in a bit of a rush, but the man really knows his stuff 🙂 Anyway, he recommended a certain LLC setup for me... He’s already handling the books for several local coffee shops and was giving me the lowdown on how they operate, including all the typical mistakes owners make, like trying to hide expenses for things like water, electricity, or rent... he even mentioned some newer tax loopholes and whatnot. It feels like I'm learning something new every single day. I'm not exactly losing sleep over potential hiccups, though; I figure I'll just deal with whatever comes my way as it happens, hopefully without anything too crazy hitting me all at once...

silverbison293 Active Member

94 messages
joined Feb 2009

#386 · Jul 21, 2009

Best of luck 😉

Terry Brooks3 Member

13 messages
joined Aug 2009

#387 · Aug 24, 2009

Since I got married and had to update all my IDs, I need to fix up my small business paperwork too.

So, here's the deal... Along with the name change, I’m moving. I own my own LLC, but I won't be living in the same city where the business is registered anymore—I'll be way out in 497 miles...

Question: Am I going to run into any trouble since my home address will be on one side of the US and my shop will be on the other?
I’m not even working at the business right now anyway; I’ve got a job at a different company in a different city...

Thanks a ton!

mellowfox56 Active Member

94 messages
joined Mar 2012

#388 · Aug 25, 2009

Your best bet is to just give the local City Hall economic development office a call—specifically the one where you registered your business.
Honestly, I’m really hoping things have changed since I went through this myself. Back when I moved, the regulations forced me to officially shut down my old business and re-register everything from scratch at the new location. It’s one of those bureaucratic headaches that honestly makes zero sense if you think about it for more than a second.
Luckily, it didn't cost me a fortune to get everything set up again back then.
I don't want to give you the wrong advice, so just call them and get the facts straight from the source.

Terry Brooks3 Member

13 messages
joined Aug 2009

#389 · Aug 25, 2009

I was hoping you’d be the one to give me an answer 🙂

Gonna give Hertz a call and let you know what they say 🙂

Anyway, if nothing changes, my husband will officially be living in one city while I’m stuck in another 🙄

EDITION: Called them. Turns out legally, it doesn't matter where the business owner lives as long as the shop stays registered and operating in its current city

So, changing my address won't cause any issues, but it still doesn't solve the problem of moving the actual business location

mellowfox56 Active Member

94 messages
joined Mar 2012

#390 · Aug 25, 2009

It’s honestly such a relief when things actually move forward without all the usual bureaucratic headaches. That said, I’m assuming you’re still planning on staying in the same area where your business is registered? Since you're tied to that specific municipality for your local tax filings, you'll likely have to stick to that. The only thing that gives you any flexibility is that you can submit your Finin reports from pretty much anywhere in the US, but the IRS and local tax authorities always look at where your business is physically operating. So, yeah, just make sure you’ve double-checked all those details.

Terry Brooks3 Member

13 messages
joined Aug 2009

#391 · Aug 25, 2009

It’s a small business, but I haven't actually worked there in ages—I've been at a different company in a different city for a while now.

And now I’m changing my legal residence, so officially, I won't even be living in that town anymore. The business will just keep running on autopilot without me.

Assuming I haven't completely overcomplicated this... 🤷

Chloe Robinson44 Newcomer

7 messages
joined Sep 2009

#392 · Sep 9, 2009

Hey everyone, I could really use some advice! So, I’m planning to launch my own little small business selling souvenirs, and I’ve pretty much gathered all the necessary paperwork already. I actually just visited the Google office to get things sorted, and honestly, they were super helpful—really impressed with how smooth they made everything feel! 🤷
Now, here’s where I’m stuck: since the shop would mostly be running during the summer season, I’m torn between setting it up as a seasonal business or just going with a year-round setup. What are the actual pros and cons of each? Also, what happens if I decide I want to keep the doors open longer than the typical six-month summer stretch? And most importantly—if I’m not officially "open" during the off-months, am I still on the hook for Social Security and Medicare, or other taxes and fees? Any insight would be amazing!

mellowfox56 Active Member

94 messages
joined Mar 2012

#393 · Sep 10, 2009

Chloe Robinson44 said:Hey everyone, I could really use some advice! So, I’m planning to launch my own little small business selling souvenirs, and I’ve pretty much gathered all the necessary paperwork already. I actually just visited the Google office to get things sorted, and honestly, they were super helpful—really impressed with how smooth they made everything feel! 🤷
Now, here’s where I’m stuck: since the shop would mostly be running during the summer season, I’m torn between setting it up as a seasonal business or just going with a year-round setup. What are the actual pros and cons of each? Also, what happens if I decide I want to keep the doors open longer than the typical six-month summer stretch? And most importantly—if I’m not officially "open" during the off-months, am I still on the hook for Social Security and Medicare, or other taxes and fees? Any insight would be amazing!

Yeah, that's the catch—you just can't predict how sales will look once the tourists head home. If you set it up as a standard year-round business instead of seasonal, you're basically obligated to pay all those monthly fees regardless of whether you're making a dime. You could eventually talk to the local Chamber of Commerce about putting the business on hiatus, but you'll still be responsible for Social Security and Medicare. The only thing they might let you slide on is the Hock dues if you file a formal request.

coppergardener62 Newcomer

3 messages
joined Sep 2009

#394 · Sep 10, 2009

Manicures and nail extensions? What kind of business classification does that fall under? And do you actually need to finish a certification course first?

mellowfox56 Active Member

94 messages
joined Mar 2012

#395 · Sep 10, 2009

When you're talking about beauty services, you definitely need the right credentials to pull it off. I mean, as an accountant, there's no way I could pull off a makeover 🙂 just kidding.
But seriously, if you don't have the certifications yourself, you've got to hire someone who actually does.

coppergardener62 Newcomer

3 messages
joined Sep 2009

#396 · Sep 10, 2009

They told me I could register nail enhancements as a sole proprietorship as long as I have at least three years of high school under my belt, but if I want to do pedicures, I’ll need to finish a specific certification course first.

Chloe Robinson44 Newcomer

7 messages
joined Sep 2009

#397 · Sep 10, 2009

mellowfox56 said:Yeah, that's the catch—you just can't predict how sales will look once the tourists head home. If you set it up as a standard year-round business instead of seasonal, you're basically obligated to pay all those monthly fees regardless of whether you're making a dime. You could eventually talk to the local Chamber of Commerce about putting the business on hiatus, but you'll still be responsible for Social Security and Medicare. The only thing they might let you slide on is the Hock dues if you file a formal request.

That’s exactly what I’m wrestling with too! Honestly, every single person I’ve asked seems to be guessing—nobody can give me a straight answer on what the smartest move would actually be for my situation.

Larry Hall94 Newcomer

4 messages
joined Sep 2009

#398 · Sep 11, 2009

Hey everyone!
I have a question. Here's the situation. I work in accounting at an agency that uses public funds. I’d love to start my own bookkeeping business, but according to the law, I can't do that because of a conflict of interest. I'm wondering if it would be considered a conflict if I opened the business under my husband's name instead? He’s currently a traveling salesman for a corporation, but he could take a bookkeeping course. The Civil Service Act says I can't open a business in my own name, but it doesn't say anything about doing it through my husband. The clauses regarding immediate family fall under the Civil Service Reform Act, which I don't think applies to me.

urbantiger40 Newcomer

7 messages
joined Sep 2009

#399 · Sep 15, 2009

I am not here to sell you smoke and mirrors; I am offering a tangible product. My terms are straightforward: I work for upfront cash per contract, or alternatively, I am open to an equity stake through a formal partnership agreement.
To make this work, I am looking for a facility equipped with a solid machinery lineup—ideally a full CNC setup or at least high-end NC equipment, including EDM capabilities. Beyond the hardware, what I truly require is personal integrity
and absolute professional discretion. If you are merely a nosey bystander or someone looking to meddle, please look elsewhere. Interested parties should reach out via private message, and I will follow up with you directly. Thank you.

crimsonnomad29 Newcomer

5 messages
joined Oct 2009

#400 · Oct 1, 2009

Hi there,

I’m currently in the process of launching my own graphic and web design studio. I am just wrapping up my part-time bachelor's degree in graphic design, and I recently enrolled in some web design courses which will also lead to a formal certification and official professional credentials on my record.

The one thing that has me scratching my head—because I simply cannot seem to find any clear answers online regarding starting a small business like this—is whether there are any additional requirements I need to satisfy to officially open such a studio.
Do I actually need several years of documented experience in the field before I can legally operate as a sole proprietor?
Also, does anyone happen to know where I might stumble upon some genuinely helpful resources or guidance on this?

Thanks in advance...

Best, 😁

Starting a small business

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