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Date Posted: 19:10:15 04/07/02 Sun
Author: Doodle's Mom
Author Host/IP: 65.119.128.224
Subject:

I'm late but I'm going to try...
In reply to: Diane 's message, "Krysalis" on 19:23:32 04/04/02 Thu

Au Natural

Mother's Touch

Back to Basics Simply Natural

Kris,

Setting up your basic business stuff isn't as bad as you think. Just went through it...So long as you are peddling your wares and not having customers in your house you shouldn't need to mess with zoning. And if you did you should only need a home-based business permit at the worst. Next you need to go file a ficticious business name (assuming you'd call your business something other than Kris's) at the courthouse (recorder's office), then file a simple form for a retail merchant's certificate (actually called a tax payer ID # thingy) if you will be selling retail. The state does want it's 5% you know! That is about it, but make sure you open a separate checking acct in the name of your business. My bank doesn't charge me for this so long as I run a minumum balance of $300. This way you can keep your business records of income and expenses separate from your personal accounts. List deposits to that account in check book ledger as Owner Investments, costs as Expenses, and income from sales as Income. While you're small this can just about cover it, but save your receipts for the expenses and staple each month together to make record keeping simple. For my purposes I created a small form that separates my expenses into categories...but not sure even that is necessary on small scale stuff.

You can get the form online for the retail merchant's certificate from the Indiana Dept. of Revenue (if memory serves the form is BT-1) It is really easy to fill out and costs around....$30?

If I can be of any assistance just give me a holler, you know where to find me *wink*

Don't be intimidated, and go get 'em!

Jacke

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Replies:

Thank you, Jacke! -- Kris, 08:58:36 04/15/02 Mon