In starting a small business what do I need to know about start-up taxes, stocks and seed money?

Answer by  MILLENNIUM (89)

A key to the success of business is understanding the initial financial requirements. Before starting you business you must know what approvals and costs you need from governmental agencies. In addition you need to know your business structure (partnership, corporation, sole proprietorship). If you need money to start your business (called seed money) you must know the amount.

Answer by  Latin4 (11170)

Contact the small business agency in your state they have information they can send you with all the information. Depending on the business I would contact an insurance agency and discuss with him the possibility of starting a business and what the insurance company would want you to do for insurance. Also the local govermnent has restrictions for new business.

Answer by  Danielle2480 (247)

Best thing to do when starting up a small business is to contact your local sba or government agency for requirements. Stocks generally do not pertain to small businesses, only corporations sell stocks. Start up funds are dependant on the business type.

Answer by  Dean (4035)

Write a detailed business plan. All these topics will be covered in the plan, which will give you more exacting details about what is required in each category.

Answer by  sonicfoundation (2597)

When you first start a small business, you should immediately get a Tax ID number for your business. This is like the Social Security Number for your business and very important. You should not think about issuing stock until you are much larger and successful.

Answer by  tamarawilhite (17883)

Put 25% of all income aside and pay the taxes quarterly in full. Pay Social Security and FICA for all employees, including yourself.

Answer by  DavideRo (4)

If you start a small business, you shold definitely know as much as you can in the area of taxes, as they will impact the development of your business from the start. Get a good CPA or a tax atorney, with reasonable rates.