Hi! Not Lynette or Diana, LOL, but I think I have some help. There is a difference between state and federal requirements, and if someone needs/wants to incorporate or not. For your state, I found you can call the NC Dept of Commerce ServiCenter at 800-228-8443 for referrals to make sure you are covered on that level for licenses. For example, in Washington State I am required to have a Master Business License for WA, my booth renter/salon license, and my City of Bremerton Business License in addition to my manicuring license... my Washington State Dept of Revenue had all that information for me. That is where I registered my Doing Business As (DBA) otherwise known as trade name. So I am.... Michelle Cordes dba The Nail Spa, fully licensed to do manicuring services in washington state for money!!!! Now... as for type of business, check out http://entrepreneurs.about.com/od/businessstructure/Business_Legal_Organizational_Structures.htm I have always been a sole proprietor (for federal tax purposes me and The Nail Spa are one and the same, and my taxpayer ID is my social security number)... it is easy as far as tax stuff goes and I personally feel my insurance will keep me from needing the protection a corporation provides. However, some people choose to incorporate so that their business and personal finances, taxes, and liabilities are completely separate. There is also some other tax benefits to being incorporated, but for me it wasn't worth the cost. Any money you make, even if you do NO licensing or structure is taxable by the IRS under your social security number... you are a sole proprietor by default. As far as the accountant thing... If you decide you want to incorporate, you can do it online yourself or have a business attorney handle it. I would not pay a consult fee to a CPA- their office should be more interested in picking up a client than all that crap you have heard. A reputable office has a staff of book keepers to do your paperwork and the CPA just provides counsel for the tax part. If you cannot find a good CPA office near you that will give you a consult for free to get your business, find a book keeping service. People running a small business of book keeping generally have accountant contacts they use come tax time, and they are a lot cheaper for our simple industry! (I do my own stuff because I was a book keeper and accounting student in a former life... giggle) Ask other salons who they use... get referrals the same way we want them for ourselves! Plus sometimes a referral over a cold call can get you that free consult... Do a lot of google searching and you will find more info out there than you could possibly imagine... I know it seems confusing, but there are a ton of resources out there to help you! Good luck! Michelle Cordes Bremerton, WA
--- On Sun, 2/15/09, Adrienne Schodtler <[email protected]> wrote: > From: Adrienne Schodtler <[email protected]> > Subject: NailTech:: Re: Re: taxes..diana & Lynette > To: [email protected] > Date: Sunday, February 15, 2009, 5:30 PM > Okay, so last year for taxes is no big deal...employee ;(- > > However I just became my own boss as a renter and here is > my question...actually questions. I am having a hard time > finding an accountant that won't charge me a $100 > consultation fee just to meet them! The one I did consult > with wanted me to form an LLC or a DBA, at the cost of > $400. ????? As a renter is this truly necessary? And > he thinks I may need a business license seperate from the > one the salon owner already has...again,more $$$$$. > > I am a bit overwhelmed by this revelation. I am still > looking for someone I do not feel is a crook to do my > taxes. > > Insight? > > > > > Adrienne Schodtler > High Tech Nail Tech > Holly Springs, NC > > www.nailsbyadrienne.homestead.com > www.blissfullounge.com > > "If you don't stand for something, you'll fall > for anything." > > > > --- On Sun, 2/15/09, Diana Bonn <[email protected]> > wrote: > > From: Diana Bonn <[email protected]> > Subject: NailTech:: Re: taxes > To: [email protected] > Date: Sunday, February 15, 2009, 8:56 AM > > > damn Lynnette, you beat me, Hope to have mine done > tomorrow. Pam > don't forget car expenses and license plates and maybe > insurance. In > fact any insurance you pay.any gifts that you bought your > clients. Advertising, Even if you made your own flyers on > your own > computer. Turn those numbers in. > > I personally turn every damn penny I have spent in the > year, and let > the accountant figure if it is deductible or not. diana > from indiana > > At 10:51 PM 2/14/2009, you wrote: > >Pam,I JUST finished mine about an hour ago. We go on > Monday. Here > >are some other things:Merchant fees if you accept > credit cards; any > >classes you took; postage; licenses; meals; lodging; > dues for any > >professional group you may belong to;subscriptions to > magazines & > >newspapers ; donations. Hope this helps!!Buenos > dias,Lynnette > > > >Sent via BlackBerry from T-Mobile > > > > > > > > --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "NailTech" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/NailTech?hl=en -~----------~----~----~----~------~----~------~--~---
