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- Users: EntreAdvisor
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Corporation
Worst case is you register your business when you gain momentum or traction. Right now, just track your expenses. When you make some income, come back and talk. A few other comments: Talk to a tax CPA before making decisions on business structure Do not use a "box" service like legal zoom to...- EntreAdvisor
- Post #8
- Forum: Legal, Tax, Regulation
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Selling without a business entity
Great point! And exactly why you just don't want to incorporate or open an LLC on the whim. CA can be $800 or $1600 (depending on income) in just annual fees. Local tax authorities will see you have registered and will be nickel and diming you for a $25 city fee or county tax - especially in...- EntreAdvisor
- Post #18
- Forum: General Business Discussion
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Selling without a business entity
If you have a loss, the business can actually reduce your taxes. Depends on whether this qualifies as an actual business or a hobby under IRS regs.- EntreAdvisor
- Post #17
- Forum: General Business Discussion
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Selling without a business entity
I wouldn't incorporate so quickly. No need. Once you do that, your state will expect you to file. The IRS will be looking for an 1120. You will need to pay someone to set the corporation up. You will need to pay a CPA to prepare federal and state returns. Not worth the hassle yet. Also...- EntreAdvisor
- Post #16
- Forum: General Business Discussion
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