Have you ever thought about what happens to all the old CDs and DVDs we used to use to listen to music and watch films? Well, the answer is, often nothing. For those who have only just started using the internet to download, purchase, and listen to music, their CDs are wasted. If you know how to transfer this media to a computer, you could be doing the tech-phobic and those with little time on their hands a serious favor. Offer your services on forums, social media or flyers. You may even end up with customers with more general tech needs on a long-term basis.
If you have a great product, but no money to invest in a physical storefront, staff, and bills, why not set yourself up online? Aside from the lack of huge monetary investment and time commitment, the marketing opportunities online are endless. Also, although a storefront is great for branding purposes, it does limit the size and scope of your audience. By setting yourself up with an e-commerce store, you can:
Depending on how your business is structured, the amount of revenue your business earns, and several other factors, forming an LLC can provide potential tax benefits for business owners. LLCs are allowed to choose how they want to be taxed, either as an S corporation or C corporation. These options are not available when you are operating as a sole proprietorship. LLCs don't pay their own taxes directly, the income of the business its passed on to the members of the LLC through "pass through taxation." This means that a member is subject to self-employment taxes, but at higher levels of income, the LLC can often pay a lower base tax rate than a C Corporation. The best way to determine your potential tax benefits is to consult an accountant.
The businesses registered with the State of Utah are either located in Utah or doing business in Utah as a: Business Trust, Collection Agency, Corporation (For Profit and Non Profit), Professional Corporation, Doing Business As - DBA, Limited Liability Company - LLC, Limited Liability Partnership - LLP, Limited Partnerships - LP, Limited Cooperative Associations - LCA
Having a eureka moment is great, but it can be hard to put that idea down on paper in a way that will speak to a potential investor. If you have owned your own business in the past or earned a business degree, why not help those with a eureka moment start something they love? Plan your fee around the various packages you are prepared to offer your clients. You can either:
Get an Employer Identification Number from the IRS. If your LLC has more than one member, you will need this number so your LLC can pay federal and state taxes properly, hire employees, and open a company bank account. You can apply for this number: (1) online; (2) by contacting the IRS at (800) 829-4933; or (3) by completing and mailing in Form SS-4 to the address listed on the form.
If you are looking for a way to make money at home without the need to learn new skills, home-based laundry services are easy to offer with the possibility for expansion in the future. The most complex part of the process will be establishing whether or not you need licensing to start this business from your home. This will depend on your location and the size to which you plan to grow your empire. Otherwise, all you need to do is:
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