Post a new topic
    3 Replies Latest reply on Apr 21, 2011 10:04 PM by MyBizPlaybook

    New Business - I have a tax, insurance and credit card question(s)?

    Pastor Jim Newbie
      I am starting a new Concierge/Errand  Service. I am registered and licensed in North Carolina. I am running it as a  sole proprietor (at least for now).

       

      1. Should I get a federal tax id  (EIN) number for my business.

       

      2. I will be going to peoples homes to run  errands. Do I need additional insurance, car?, liability? etc.

       

      3. I want  to take credit cards - I have looked into squareup (heard good and bad reviews),  or want to know of other credit card business for small  companies?

       

      Thanks,
      Jim
        • Re: New Business - I have a tax, insurance and credit card question(s)?
          LUCKIEST Guide

          Welcome Jim. Everybody in business should have a Federal I D Number

          Also an accountant and a GOOD insurance agent if you are going to peoples houses.

          As far as credit cards, talk to Barry at amspcs (a member and a very helpful good guy).

          As a Quickbooks Consultant, I can help with the bookkeeping.

          Good luck

          • New Business - I have a tax, insurance and credit card question(s)?
            bizconsultant Scout

            Definitely get you a team, even if you just use them every now and then, of business related professionals that can help with areas that arent your core business. Business consulting, insurance, bookkeeping and legal at the minimum. Take advantadge of as many free resources as you can from goverment agenices or related entities such as the IRS, Federal Trade Commision and SBA. For taking credit cards I have an account with this great company called Merchant Ware - easy approval process and they have an app that allows you to process sales remotely (if you have to go to someones house to get payment)  Go to http://merchantwarehouse.com/?cpao=1146  If you have a need for any performance based business development services, we have a great 90 day program that can help you with everything you need and no out of pocket money during the program term. Feel free to email me at ajones@buildabusinessworkshop.com

            • New Business - I have a tax, insurance and credit card question(s)?
              MyBizPlaybook Newbie

              It's great that you are starting your business.  And absolutely you should have a tax i.d.  Also if you are planning to develop and grow your business, your business reputation is crucial.  One aspect that small business owners neglect to understand is business credit which is different from personal credit. Your business structure, a corporation, LLC or sole proprietor, can affect your personal credit.  There is a simple to read guide that help you understand business credit.

               

              There is a feature guide available that can hel you to understand the importance of business credit, how business credit can help avoid personal liability and how business credit can help you obtain certain forms of business financing.

               

               

              The website is www.mybizplaybook.com