I remember hearing the saying, "The only things certain in life are death and taxes." As I wade into the beginnings of adulthood the latter part of that phrase is becoming more and more prevalent.
My last post was on a benefit of having a photography business, this one is about one of the negatives. I have been reluctantly exploring the correct method for starting a small business over the past couple of months. I knew we needed to be legal in Uncle Sam's eyes, but he doesn't exactly make it real clear on the approved approach for doing this. They all tell you about the business side of things, not the legal, pay your taxes, requirements.
Anyways, Rebecca and I finally decided to not trust our own knowledge and go see someone who does know what to do. We went to Helen Grissett at Columbus Tax and Accounting. She was a Dave Ramsey ELP for small business. She was kind enough to sit down with us for about an hour free of charge and walk us through getting an Employer Identification Number (EIN), filling out sales tax form with the state, and answering all of our ignorant questions on the subject.
Our next step was to go to the bank and get a business checking account set up. That took about another hour. So now we don't have to ask people to rewrite their checks when they make them out to Rebecca Long Photography.
The third step of getting a business license was halted because we have to get approved by the city to work out of our apartment. That will take a separate form for that and then we can apply for a business license.
I'm beginning to think businesses biggest competitor is the government. I'm not looking forward to doing our income taxes.