Comments on Small Biz Survival: Checklists for starting your first business

Thank you, my friend said jewelry has very little ...

2009-07-20T23:06:57.677-05:00

Thank you, my friend said jewelry has very little duty on it but I am not even sure how to go about importing. For example I have the people over there but how to I get from ther to my front door step. What are the correct steps? Any help would be so appreciated. FYI,I am doing all of this as a wholesaler so there is no sales tax but I know I will have duty.

I don't know about the import taxes, but we...

2009-07-20T22:49:14.515-05:00

I don't know about the import taxes, but we'll try to find out.

If I want to start a small business importing jewe...

2009-07-20T22:43:12.365-05:00

If I want to start a small business importing jewelry and accessories from India and China and do it as a sole proprietor what about import taxes or duty on my year end info?

Thanks, this is really useful. I recently started...

2009-05-27T08:57:40.088-05:00

Thanks, this is really useful. I recently started a new business in the UK and I was told that I could only claim for meals and entertainment with clients if it involved an overnight stay?! I think I'll have to look this one up futher! John - Wisebills

As far as the IRS is concerned, if you decide you ...

2008-03-24T17:30:00.000-05:00

As far as the IRS is concerned, if you decide you are in business, then you are in business. For a sole proprietorship, you report it to the IRS only at the end of the tax year. The IRS has no requirement to have filed or registered the business locally. You do have to operate your business with an intent to make a profit. So as a blogger you would also need to accept advertising or sell written works for pay, for example. (We can get Maesz to talk more about that, if you want.)

I do not know about the California licensing and registration requirements.

In Oklahoma, there is no state-wide requirement for licensing or registration of most consulting and independent self-employed. That leaves it up to the cities, and most small towns here don't require it.

If anyone is not sure about your own local rules, I would check in with a Small Business Development Center.

Great post. However, I'm still not sure how to be ...

2008-03-24T01:31:00.000-05:00

Great post. However, I'm still not sure how to be able to distinguish that you are self employed without getting business license and register your business, especially in CA. You could choose to be blogger and would that qualified to be self-employed???

The previously personal items of equipment that ar...

2008-03-23T20:35:00.000-05:00

The previously personal items of equipment that are converted to business use can be depreciated from the date of conversion. The basis for depreciation is the dreaded Fair Market Value of the item on the date of conversion. Then, the business percentage is applied to the FMV and depreciation (on computers 3 years) commences. However, there is no Section 179 available for converted property.

FMV of used software would probably render too small a value to gain much in the way of depreciation, but the process would be similar. Once, again, no Section 179 for converted property.

This is probably a stupid question but what if you...

2008-03-23T18:33:00.000-05:00

This is probably a stupid question but what if you already have a personal computer and software that were purchased before the business was setup but will be used in the new business?

Is it possible to retrospectively "charge" the business for these?

Thanks, Jeff. Always glad to hear about alternativ...

2008-03-23T18:07:00.000-05:00

Thanks, Jeff. Always glad to hear about alternatives and choices for small biz owners.

Thank you for mentioning the fact that a new busin...

2008-03-23T16:47:00.000-05:00

Thank you for mentioning the fact that a new business owner needs to find someone to review contracts. The recommendation is 100%
accurate - and lawyers are typically the ones chosen... yet many have neither the skills nor the ability to do what you most heartily suggested (quickness).

There are consultants such as myself out in the world,
contract negotiators who do NOTHING but write, read, review and negotiate contracts. Some of us have the law degree, too (such as myself) - but the really important piece is that everything I do in my job deals with contracts.

Anyways, I just wanted to offer an alternative of where folks can go to get the kind of help you recommended.

Thank you, Rex. This is a new world record for one...

2008-03-22T20:21:00.000-05:00

Thank you, Rex. This is a new world record for one-day traffic for us. :)

Congratulations, Becky. You got 'Lifehacked."

2008-03-22T17:08:00.000-05:00

Congratulations, Becky. You got 'Lifehacked."

Thanks, Oopala. I'm glad you spread some awareness...

2008-03-18T15:34:00.000-05:00

Thanks, Oopala. I'm glad you spread some awareness.

I did not know all the details involved in startin...

2008-03-18T15:12:00.000-05:00

I did not know all the details involved in starting a small business, sideline or otherwise. Thanks for your insights, Becky, and I've taken the liberty of commenting on your piece in my blog for the Innovators-Network.org in hopes that some of my readers will visit your blog and read the piece for themselves. I look forward to reading more such pieces in the future!

Thanks, Jonny! Hope it helps someone with getting ...

2008-03-17T12:20:00.000-05:00

Thanks, Jonny! Hope it helps someone with getting started. You and Scott were great fun to meet.

Great post. Thanks Becky. Fun meeting you at SXSW ...

2008-03-17T11:57:00.000-05:00

Great post. Thanks Becky. Fun meeting you at SXSW too!

Thank you! Glad to have all the input you gave to ...

2008-03-17T11:15:00.000-05:00

Thank you! Glad to have all the input you gave to improve it.

Excellent! I like it.....a LOT.

2008-03-17T10:48:00.000-05:00

Excellent! I like it.....a LOT.