Vocations · Professional Development
Starting a small business means paperwork with the state, the IRS and your city or county, and the order matters: search the name before you file it, file before you open the bank account. Track every step and fee here.
The worked example is made up: a candle maker forming an LLC and selling goods, and a lawn care sole proprietor trading under a business name with a hire planned. Saved on this device only.
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Vocations · Professional DevelopmentFree
A sole proprietorship needs no state filing: you and the business are the same for taxes and debts. An LLC costs a filing fee and an annual report, and in return it can keep business debts separate from your own if you keep the money separate too.
Self-employed people usually pay estimated taxes four times a year, including self-employment tax for Social Security and Medicare. Set aside part of each payment you receive.
The worked examples are made up. Filings, fees and deadlines depend on your state, county and city and on the kind of work. This page organizes the steps and is not legal or tax advice. Nothing you type is sent to Caveat. Support: team@caveatacademic.com.