ForumsStarting a Business

Kathy,

I'd thought about starting as LLC, too.
But at some point in the future I'd like to look for additional funding from outside investors, etc.
I thought it may be a good idea to bite the bullet first.

As for my situation, I have a full time job (software engineer) so I would be doing this as part-time until i have a clearer picture of where this is heading. Also since my wife is staying home taking of the kid, there are certain risk i cannot take at this point. But I'm pretty comfortable handing finance, paper work, etc.

As for business idea, this is in the online educational space. I'm working on the business plan but have to admit that i haven't done enough marketing research. This is why i can run it out from my condo, there is no need for a warehouse for this type of business

Philip

Hello and welcome,

If you plan to run a home business/e-commerce it may not be a good idea to use your home address as your business address if your customers will be able to have access to it. You should use a PO box if your business does not have a physical location. What happens if an angry customer Knows where you live?

philip, Again good luck, You do know about SCORE. I am a SCORE Counselor and we at SCORE
help people going into business FREE of charge.
SCORE is a partner of to Bank of America and provides FREE business assistance with both
Business and Marketing Plan and lots more.
LUCKIEST

I used legalzoom to register as a s-corp. it was fast to inpiut data, but the whole process took about 5 weeks to get everything and cost about $600 (deductable) They send you stock certificates, all the necessary documents ina binder, a seal, and a cd with document templates.The benefit of a s-corp is you get to deduct your business expenses from your personal income tax. Good option for startups and those that don;t expect to have many investors or foreign investors. I don't kmnow how this compares to LLC. Try the NOLO website. Their books are good.

I started a biotech company, and I'm running the grant writing process out the house. Anything related to running your business is deductable to some extent. your home expenses deduction is all home expenses times the fraction of your office area divided by the entire house square footage. Everything used to maintain the home is deductable. heat, power, internet, pest killer.