So many questions. Welcome Hopefully we can give you great answers.
YES you should have an accountant from the start. For many reasons.
The accountant should know you and your business. The accountant will help you in the start up phases.
The accountant will review your plans and profitability, discuss forms of legal organizations,
help set up bookkeeping systems and help you file taxes as due.
You can pay the accountant NOW or pay the IRS much more later.
Your topic is properly named, because I have so many questions before I could provide you with some advice.
What kind of business are you planning? Will your husband have any ownership in this business?
Do you plan on having employees of any kind? Do you need startup funding or investments?
Have you prepared a business plan? Have you prepared a marketing plan?
Have you done any research on this type of business in your area?
Have you picked out a company name/brand?
I could go on here, but you get the idea...
Hi msspyles, for starters, you can get into food business, selling hot dog with licenses at the right spot can be a great choice, or you could bake cookies, muffin, anything, the running cost is low, the initial cost is bearable, and can achieve great success with diligence.
It's not like selling apparels, a T-shirt could be bought for less than 4 dollars, then sold for 6 or even 12, but people would be reluctant to buy one. A hot dog could be sold for 75 cents, anyone that is bored or simply hungry would buy one or even more. And spare some brains on drinks, while hotdog may not be a big cash in-taker, drinks can get much more profit.
Hope it helps. And if you wanna buy some cheapo T-shirts or something like that, reply to me or gimme an email, feel free to ask me anything, I'm likely to able to come up with them
My new business will be in my name and I will be running the show. I am married. Husband is unemployed and disabled. His income comes from Social Security Benefits. How shall I construct my business... sole proprietorship??? We own our home. How shall I file taxes each year. Should I also have an accountant from the start?