Friday, February 14, 2020

Make it Easier

We all know businesses help the local economy. Set up a business, and the local municipalities will get taxes if you are successful. It is in a city and state's best interest to make their area business friendly, and have a good balance between business and residential. That being said, it is super hard to figure out how to start a business and what is required. It was pretty easy for me to figure out what type of business I would want, and that I wanted a sole proprietorship. Past that, it was very difficult. I found a lot of conflicting information. Some sites said I needed a EIN for taxes. Others said I just used a schedule c on my personal taxes. There are real consequence to messing these things up, and it is so important to get them right. You can be fined if you mess them up, or the liabilities can be huge. IF cities and states want businesses, they need to make it easy to figure out. I could understand when online business was a fairly new thing, but it is not new anymore, and the information should be clear and easy to access.

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