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    3 Replies Latest reply on Dec 7, 2009 12:53 PM by LUCKIEST

    quick questions before i step into legalzoom?

    BabySteps Newbie
      Hi everyone,
      Just finished 7 years active duty in the Army and im ready to or better yet, think im ready to open up a little business.

      1. what it is required of me to have before i step in to my bank and open up a business account?

      2. im located in Texas, if i find some projects in other areas like lets say, Miami and Puerto Rico. will i be able to do the projects there or do i have to register with the state before i can run some projects?

      3. if for some reason its hard to start the contracts moving, how will having this business be affected tax wise if i take up a part time job to get by?
      (being that i have enough money to get by for a couple months)

      with the economy the way that it is i understand the possibilities of failure in the beggining months and i understand that the business might take a while to produce but im willing to rough the hard times and build.

      thank you for your help in taking this one HUGE baby step

      AM
        • Re: quick questions before i step into legalzoom?
          HenryZL Wayfarer
          if you still need any help, feel free to email me: henryzliao at stanford.edu
          • Re: quick questions before i step into legalzoom?
            bdccft2 Wayfarer
            Hello AM,
            I am not sure what information you have received already, but here is some "free" information that may help you. At the very least it will help you set up your business properly. http://www.bdcandassociates.org/NewBusinessStartup.htm

            1. what it is required of me to have before i step in to my bank and open up a business account?
            *+A. You will need your business documents you filed with your Secretary of State. At min. your trade name registration. You will also need your Federal Identification Number you received from the IRS. These documents allow you to have a separate identity for you
            2. im located in Texas, if i find some projects in other areas like lets say, Miami and Puerto Rico. will i be able to do the projects there or do i have to register with the state before i can run some projects?
            A. I work with clients all over the country and a large portion of my clients comes from Texas. In most cases you can do business in other states. You may want to contact the SOS in those state to see if they will require you to file a "Foreign Status" for your company. This depends on "how much" business you intend on doing.

            3. if for some reason its hard to start the contracts moving, how will having this business be affected tax wise if i take up a part time job to get by?
            (being that i have enough money to get by for a couple months)
            *A. Mistake one is to use your own money. If your personal credit is good and your business is created properly, you should be able to get some start-up capital at a very low interest rate. You mentioned you were in the military. You have many more options available to you. *
            Take a look at the free information above and if that does not help you, feel free to contact me via the site for more information.
            Regards and good luck!
            Thank you so much for your service to all of us!
            • Re: quick questions before i step into legalzoom?
              LUCKIEST Guide
              quick questions, Welcome back AM

              If I was planning to open a business, I would talk to SCORE. SCORE is FREE.

              Also develop a business plan, talk to both an accountant and a lawyer.

              Good luck, LUCKIEST
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