I worked as an independent contractor for years. There is a lot of paperwork involved, including retail and income taxes, the equivalent of SS, insurance. Getting a retail tax number is easy, but this has to be worked out and sent in several times a year, as well as estimated taxes.
Quoting lapcounter: I do, what kind of business are you starting?
Quoting KatLee42513: Yes. What kind of business is it
? What state? Are you going to have employees? There really is no one size fits all advice simply because there are a ton of factors.
I've never started a business. My sister has had a few and is about to start up a coffee shop. I know nothing about running a business other than it's hard.
Good luck to you and I hope it works out!
Never borrow money to start a business. Start small and invest money from your company to make it grow.
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