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Jason M · 07-06-09, 06:21

Your tax ID# will just be your social. When you are a sole prop. *YOU* are the business. Just register your name (if needed), get insured, and pay based on your income. That's why I don't get writing off the "owners" salary as stated up above. Whatever you pay yourself is income, whatever the business makes is income. It's all the same.

It's honestly not something to get to hung up on. Most places tend to not care what you do as long as you are paying income tax. Being registered or having a business license is just another state fundraiser.

07-06-09, 06:21	#12 (permalink)
Jason M Registered User Jason M is offline Join Date: Jul 2006 Location: Dillon, CO Posts: 493	Re: Becoming a Legal Business Your tax ID# will just be your social. When you are a sole prop. YOU are the business. Just register your name (if needed), get insured, and pay based on your income. That's why I don't get writing off the "owners" salary as stated up above. Whatever you pay yourself is income, whatever the business makes is income. It's all the same. It's honestly not something to get to hung up on. Most places tend to not care what you do as long as you are paying income tax. Being registered or having a business license is just another state fundraiser.