Ok, so I’m about it take the leap from moon-lighting to actually open a small buisness. What are the legal steps required? I wont have any employees, for the time being atleast (until I can get some steady buisness) and I’ll still be working full time, for the time being, at my current job. This is all new to me so I’d appreciate any direction you can give me.
oh, and if it makes any difference, it’s a 3D design (mechanical, presentation [renderings and such] and concept) company.
thanks
steve
go to a lawyer and file as a new business. that should be your first step. You’ll have to fill out legal stuff, decide what kind of coporation you’ll be (i.e. LLC, S-Corp) fork up some money for legal and processing fees.
Choose ur biz structure first. I chose an LLC. Get ready to spend some $$$$. Make up a biz plan. I think u need to get those two steps out of the way, get a lawyer and an accountant also.
It takes some money to start up…you dont have to start as a corporation but it isn’t a bad idea…
Or i’ll give you the number of my accountant. I’ll have to ask my dad.
Basically you just file for a tax id number, and file a doing business as certificate.
You can’t afford to hire employees yet (you have to buy insurance for them, etc). It gets very expensive.
steve…doh
i’ve done this before 
i can set you up with everything you need
dont foget to take 30% of your income and put it away for your partner…
.
uncle sam.
then there is health insurance, and retirement to think of.
dont compete with your current business. … . . . .
im sure you signed a non compete