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- Somerville, MA
Today I went to City Hall and paid my $60 for a sole proprietorship business certificate, good for 4 years. I have been wanting to get my gecko "business" registered and finally got around to it. I highly recommend that anyone who's gotten beyond the "trying it out" stage consider doing this. It requires the following:
--research in your state to see what they require of a "sole proprietorship" (essentially a self-owned business where you declare your income/expenses on your own tax return). In my case, it just requires filling out a form at City Hall and paying a relatively small sum
--keeping track of income and expenditures and saving receipts
--reporting your income/expenses on your state and federal taxes (there is a special schedule for this).
I'm glad to be legitimate now.
Aliza
--research in your state to see what they require of a "sole proprietorship" (essentially a self-owned business where you declare your income/expenses on your own tax return). In my case, it just requires filling out a form at City Hall and paying a relatively small sum
--keeping track of income and expenditures and saving receipts
--reporting your income/expenses on your state and federal taxes (there is a special schedule for this).
I'm glad to be legitimate now.
Aliza