Thursday, February 28, 2013

Q.  We recently sold our house and are starting a small business to run out of our trailer. Do you know of any reliable sources which may point us in the right direction?

A. Here is a link to the IRS Small Business and Self-Employed Tax Center which should answer many questions. I only have one point I'd like to make. Before rushing off and forming a separate business entity such as a partnership, LLC or corporation, start off small and run as a sole proprietor. Forming many of these entities is quite easy, they can be costly depending on the state, and like a divorce, hard to get rid of!

No comments:

Post a Comment