WOT - Going legit? Advise for doing a sole proprietorship, Why does it cost so damn much? |
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WOT - Going legit? Advise for doing a sole proprietorship, Why does it cost so damn much? |
Dr Evil |
Jun 23 2009, 03:28 PM
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#1
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Send me your transmission! Group: Members Posts: 23,032 Joined: 21-November 03 From: Loveland, OH 45140 Member No.: 1,372 Region Association: MidAtlantic Region |
I am looking into doing a sole proprietorship and the cost to start one is more than I expected (about $400). Anyone have resources to offer or info?
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r_towle |
Jun 23 2009, 04:33 PM
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#2
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Custom Member Group: Members Posts: 24,638 Joined: 9-January 03 From: Taxachusetts Member No.: 124 Region Association: North East States |
The legal status of a sole proprietor is useless.
Any business with you as the 100% shareholder is not a legal entity that is secure, even if you split it with your wife, its still not decent protection..thus not worth the fees. To obtain an EIN number for tax purposes, you need a business. Go to the town hall and ask for the registration forms...its that and the IRS form for the EIN number. Rich |
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