The Small Business Tax Help Blog

Archive for April, 2007

Question: Is this the best way to do a start up business?

I’ve been trying to start up a business for the past two years now. Initially, I wasn’t very focused but did manage to meet all the necessary requirements (business registration, sales tax ID, EIN etc.)

The recent downturn in the economy forced me to start thinking more seriously about my business. I am thinking about selling human hair online but don’t have the money to purchase the hair upfront. (Also, I don’t want to invest too much money in purchasing the hair and then run into a problem moving the product.)

My strategy is to put up my site, advertise and wait for orders before buying the hair in larger quantities. In the meantime, I’ve spent about two months performing thorough research and used what little money I had to purchase samples of the hair from various suppliers to test the quality.

I’ve found a supplier so now the next step is to get customers.

Is this a risky way of starting business? Or am I on the right track with my strategy?

Answer: Amazon founder Jeff Bezos (?) started by getting orders and then running down to local bookstore to buy the book at retail price and then ship it out at a loss. That's not the recommended way to start a biz, but it worked for him!
Your plan seems okay to me - line up suppliers, verify quality, find customers / get and ship product. A tricky part of that is finding the customers - there's much more to selling online than just putting up a website. You have to find a cost-effective way to get the word out. I don't know a thing about human hair wigs / extensions, but is that something that you can do on eBay? If you're looking to set up your own website, look into the different packages / templates on GoDaddy.com.
Also, check out StartUpNation.com - there is a LOT of info on there.
Good luck!

Kursverdoppelung bei Internet Capital

1. Kursverdoppelung bei Internet Capital auf Sicht von sechs Monaten mit hoher Wahrscheinlichkeit. Denn sehen wir uns einmal die momentane Lage an:

Microbot for swimming in small arteries: The Proteus

Question: OK, I just talked to the IRS and recieved my ein for an (C) Corporation?

Now what do I do:? she said I need to setup my business with the state, but I should have waited to get my ein because the state could deny my business if the name was taken or something like that? Now, I need to do what with the state and how? I got my ein off the telephone , so i have no paperwork for that yet. I live in Broward County Florida, can someone please let me know the next step for me to get my paperwork to take to the bank and so i can start trying to obtain credit?

Answer: ok contact the secretary of state
and file
are a sole proprietor??
then that is easy
if you a LLC or Scorp i would get an atttorney to set the biz up

USA180 OPERATION PLAYBALL Back Now Bailout Cools UGRENT NEWS

Question: start up business help?

i currently work 4 a major company in communications in ireland and have worked 4 their rivals and others that have came and went 4 the last 6yrs wat i do is operate a mole which is a machine that tunnels under ground and pulls in pipes then cables 2houses all across dublin and kildare i reckon im 1 of the best at my job and after so long workin 4 the man i want 2 start up my own business but i need help as 2 how 2 start it up from the bottom wat do i do tax wise insurance wise im lost wen it comes 2 this i can do my job wit my eyes closed and have trained many 2 do the same any help is welcome

Answer: you got to have business plan first and foremost,then go and speak to your bank manager.without a business plan you got no business also your bank manager be able to help you start up your business regarding insurances,taxes wages and all sorts of stuff to ease you into business.

XL Capital plans move to Ireland from Caribbean

International insurer XL Capital Ltd. said Tuesday that it wants to change its place of incorporation to Ireland from the Cayman Islands. XL said its name will change to XL Group PLC from XL Capital Ltd. as part of the redomestication, with shareholders... Cayman Islands - XL Capital - Caribbean - Business and Economy - Company

John McCain: Town Hall Meeting 09/22/08

Question: I want to start a tax prep business?

I’m still in college but have a good basis for filing tax return. I wanted to start a small business on the side to generate some income to pay for my outrageous student loans. I was wondering if you can steer me in the right direction of how to build such an idea.

What are typical startup costs?
What are basic tools needed?
Can I work out of my basement?
How do I market?

Any information will do

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City to offer free business seminars

If you'd like to learn some basics about running a small business, the city of Las Vegas is planning another series of free seminars in February.

Small Business Basics : Registering a Car to a Business

Question: Stimulus plan for business? ?

Business breaks, what do you guy’s think?
The package would infuse cash into money-losing companies by allowing them to claim tax credits on past profits dating back five years instead of two. It also would offer bonus depreciation for businesses investing in new plants and equipment; double the amount small businesses can write off for capital investments and new equipment purchases; allow businesses to claim a tax credit for hiring youths and veterans.

Answer: I think the stimulus is genreally a bad idea for this reason: The amount of GDP we generate per debt we issue keeps decreasing. It is approaching zero. We are like a patient who needs a new diet, but we just keep eating sugar - it's not a solution. We need to take the pain , if indeed we want to be capitalists.

We have no good industry to stimulate. We dont make anything. We cannot just keep propping up asset prices. This is going to create hyper inflation in the not too distant future.

But I will say this - If we are going to give away money, might as well beo to smaller business, rather than chronies of the administration.

Amid rage at banks, new tax proposal evokes mixed reaction

WASHINGTON: With anger boiling over at banks, a proposed new tax on big finance firms drew mixed reactions, with some calling it a fair way to recoup bailout costs and others arguing it will hurt the sector and consumers.

Rep. Welch introduces Wall Street bonus tax legislation