[dfunk98]

Did anyone register there business? How? I'm not terribly business-minded and all these terms are making my head spin. LLC? Corporation? Sole-proprietor? I know what they all mean, just not which one would be best for my "business". I'm planning on making jewelry and possibly selling a few other things from various manufacturers online. My brother has a small business and he said to incorporate, but that seems a bit much. I also figured, regardless of what I do, I need some business insurance, too. Thoughts?
Any advice would be appreciated. Please use small words, my head is killing me!!

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[E.V. Lowi]

I know that this forum promotes self-sufficiency, but this is one area where a good accountant is worth their weight in gold. There is no substitute for having someone IRL to help you set up your business and your record keeping in the best way possible for you and keep you abreast of the laws and tax liabilities. My guy, "Frank" is a life saver and saved me, when my bookkeeper quit during an audit. I have a LLC that was set up by Frank.

If you would still like to do some research on your own, the NOLO Law for all" series of books has been very helpful to me in the past and chock full of information to help you get started off on the right foot. The one I use all the time for the preprinted forms and contracts is "Your Crafts Business- a Legal Guide" Here's a link to their web site- www.nolo.com Good luck with it!

 

[coop_mom]

We set up an LLC because we have a bricks-and-mortar shop, so liability is a big issue for us.

Depending on what state you live in, there might be information available online. We're in NJ and it was fairly easy to set up the LLC ourselves (after doing a lot of reading!). We do have an accountant and a lawyer, too, but we were doing stuff on the cheap at the beginning.

I second the PPs suggestion of reading teh NOLO books. Our local library had a small business section with many valuable resources - for free

--kristin
mom to simon, 8/30/06