By Corey Sandler, Janice Keefe
Affordable and straightforward rules for beginning a small business
101 Small enterprise principles for only $5,000 bargains sensible, real-world recommendation for turning principles and abilities right into a profitable small company. The ebook provides nice rules for easy small companies that readers can adopt both full-time or of their spare time and covers all of the concerns readers want to know -startup bills, felony concerns, accounting, taxes, and every little thing else. as soon as readers make a decision what enterprise is correct for them, the authors supply good company plans for making it take place. They express wannabe marketers find out how to start, locate investment, and construct a revenues and advertising application. criminal, zoning, and assurance standards are supplied for every enterprise proposal, in addition to suggestion on increasing the business-and the gains. destiny enterprise proprietors who don't recognize the place to begin will locate every thing they want the following.
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Additional info for 101 Small Business Ideas for Under $5000
When it comes to taxes, the corporation reports its own income, expenses, and profits to state and federal authorities and pays its own taxes and fees. Dividends paid to shareholders are generally not deductible from business income, and therefore this income is subject to taxes at both the corporate and personal levels. qxd 2/16/05 2:39 PM Page 14 14 LEGALITIES AND TAXES Subchapter S Corporation A Subchapter S corporation passes through the income or loss to the shareholders, as a partnership would (the corporation does not pay taxes on the profit) and provides the liability protection of a corporation.
Note that a service-only business, such as tutoring or college advising, will have minimal operating expenses, although you must be careful not to overlook the cost in time of preparation for a service, including research, education, and sales of that service. For services-based companies, the markup amounts to the hourly rate you will charge. When you set your hourly rate, be sure to take into account any helpers you may be paying separately. For example, if you have someone managing your office or helping maintain equipment, that becomes an element of your cost of goods.
State and federal occupational safety agencies may also have rules and regulations. We recommend you begin your business by limiting your services to ground-floor and second-story windows; once you are off and flying (metaphorically speaking) you can consider expansion to upper levels. One way to avoid the complications of tall ladders and insurance concerns is to perform second-story cleaning from the ground using a rotary brush on an extendible pole. Know the Territory You’ll need a ladder, a power washer, squeegees, sponges—and no fear of heights.
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