What is needed to start a business

[Twistedrx7]

I am basically just doing this to get discounts on items for my house. Since i am buying a lot of material it might come in handy.

 

what would be the best way to go about this since i dont have any employees and i dont need to be tax deductible.

 

And if anyone would mind helping me out in the mean time with setting up an account to get a discount at a store.

Edited November 26, 2010 by Twistedrx7

[s13]

file an LLC for 125 bucks and set up an account with the supplier.

[wnaplay1647545503]

Dont do anything, I assume your looking to get a commercial account for material. If so, just go fill out the app. They will ask for your fed id number so just give them your social. You can literally start a bazillion business' tonight if you wanted to. Now if you actually make a profit from services rendered then you obviously need to file taxes. Do not try to go tax exempt. I have commercial accounts at alot of places although I was a contractor for years. There is nothing special or laws regarding anything.

[Twistedrx7]

so basically just go fill out the application at the store and make up a company name? All of this without starting a llc?

[wnaplay1647545503]

Yup, just tell them your just starting out, planning on staying as a sole proprietor if they ask. The tricky part is convincing them to accept your social as a fed id number. But most places probably wont care. This is always one of those things I have always felt was funny and we have discussed this on here before. As long as your offering a service and the service doesnt require a special license or permit, you can be in business tomorrow. Theres nothing stopping you other than the preconceived notions of what it takes to actually own a business. With a commercial account your only stating that I want a better deal from you because I plan on spending alot of money here, more than the average consumer and I feel I should get better pricing because of it. Thats all your saying. Your not doing anything illegal. I have literally been hired to do roofs froma customer I painted for. I had never done roofs but had employees who had. I called my insurance company, told them the new name, had a policy written up that day as proof for the owner and i was doing roofs for several years after that until they came down hard on requiring a license. But i was done with them anyways. I just told my tax guy at the end of the year that I made x amount of dollars under this business name and that was it. Your almost always fine with anything in this world as long as your not trying to keep the govt from their part of your income. Which in this case your not.

[Diamonds]

money and brains

[KennyFKINPowerz]

file an LLC for 125 bucks and set up an account with the supplier.

 

 

+1 Go to the Secretary of State and fill out an app for an LLC and to register your trade name $125.00. You will get it in the mail in like 10 days. Then go upstairs and fill out the app for a vendors license. This will give you your vendor number that you will need for your accounts. NOTE: YOU WILL HAVE TO FILE QUARTERLY SALES TAX with the state. If you made nothing then there are no taxes to be paid. You can add your LLC taxes in with your personal taxes every year and its very easy to do.

[wnaplay1647545503]

Also alot of places will allow you to use an existing business account as long as you state your paying cash and not charging on their name. Its frowned upon but most cashiers could give two fucks and never bother to look it up. I do this all the time at the auto parts store. I just walk in and say does so and so dealership employees get discouts here. They say yes and I say okay I will be paying with cash. I never actually stated I work at the dealership. Even if you did as long as your not defrauding the business by illegally charging your not breaking any laws.

[2highpsi]

Dont do anything, I assume your looking to get a commercial account for material. If so, just go fill out the app. They will ask for your fed id number so just give them your social. You can literally start a bazillion business' tonight if you wanted to. Now if you actually make a profit from services rendered then you obviously need to file taxes. Do not try to go tax exempt. I have commercial accounts at alot of places although I was a contractor for years. There is nothing special or laws regarding anything.

 

Spot on

 

I did exactly this before my last home remodel. Worked like a charm.

[Linn1647545492]

Here is the application for Ohio to become and LLC. Fill out the application, pay the state fee and you will have a legal business.

 

http://www.sos.state.oh.us/SOS/Upload/business/forms/532.pdf

 

Once you get the paper work back from the state you will need to get a Tax ID/EIN number. You can do that here and you will have you Tax-ID/EIN in about 5 mins.

 

https://sa2.www4.irs.gov/modiein/individual/index.jsp

 

Once that is complete register your business with Dunn and Brad St. It is a business credit reporting agency and the only one that really matters. The link to get your Dun number is below. Once you are registered be prepared to get calls from DnB as they will try to sell you one of their packages. You DO NOT need to pay for anything as it is 100% free. All you need is your Duns number, as you will be using it when applying for business accounts along with your Tax-ID.

 

http://fedgov.dnb.com/webform/pages/CCRSearch.jsp

 

Once you have a Duns number and a Tax ID you can start to open business accounts and build business credit. If you open any account with you SS# they will pull your personal credit and attach it to you. So if you have poor personal credit and try to open business accounts chances are you will get denied. If you want to build business credit and open up true business accounts with out using you SS# let me know and I can help.

[wnaplay1647545503]

Dont start a charge account, start a cash account. Research and see what other commercial customers are getting by means of savings and tell them thats what you want. Volume is what gives you better pricing not credit score, thats if your looking to charge and need a monetary limit and interest rate. Go in there and talk like your the next biggest shit to ever hit the columbus housing market, tell them you only pay cash because you can afford it. All they will see is dollar signs froma new customer and will just throw shit at you if done properly.

[neonkiller]

Here is the application for Ohio to become and LLC. Fill out the application, pay the state fee and you will have a legal business.

 

http://www.sos.state.oh.us/SOS/Upload/business/forms/532.pdf

 

Once you get the paper work back from the state you will need to get a Tax ID/EIN number. You can do that here and you will have you Tax-ID/EIN in about 5 mins.

 

https://sa2.www4.irs.gov/modiein/individual/index.jsp

 

Once that is complete register your business with Dunn and Brad St. It is a business credit reporting agency and the only one that really matters. The link to get your Dun number is below. Once you are registered be prepared to get calls from DnB as they will try to sell you one of their packages. You DO NOT need to pay for anything as it is 100% free. All you need is your Duns number, as you will be using it when applying for business accounts along with your Tax-ID.

 

http://fedgov.dnb.com/webform/pages/CCRSearch.jsp

 

Once you have a Duns number and a Tax ID you can start to open business accounts and build business credit. If you open any account with you SS# they will pull your personal credit and attach it to you. So if you have poor personal credit and try to open business accounts chances are you will get denied. If you want to build business credit and open up true business accounts with out using you SS# let me know and I can help.

 

Hero

[GSXRAntwon]

dITTO

[BIGGU]

good info, Ive been looking for this as well.

[Linn1647545492]

If you want to read about business credit and how to secure funding here is one of our websites.

 

http://www.strongbusinesscredit.com/

[cinergi]

Linn's company is the real deal.

[Tripleskate]

Money.

[John Bruh]

this thread came at a good time. I shall be using this in the future.

[Tractor]

Just don't get audited, ever. and don't track anything or you'll have to show that you used the materials for a job or are stocking an inventory. Also not sure when but the health care bill had provisions to require all companies to have 1099 forms for all vendor to vendor transactions.i think that might start jan 1st and if it does then home depot will be making you and the irs a 1099 copy and your screwed.

[williaty]

New 1099 rules don't start until Jan 1, 2012, so we've got a year. I hope the small business lobby does manage to get them struck down as it'll be HELL for small business owners.

 

I was pointed to this thread because I've got a hobby becoming a business right now myself. I have no idea wither to stay a sole proprietorship with a dba, start an LLC, etc. There's a baffling array of options.

[wnaplay1647545503]

I wonder how many people actually read the Op is just looking to get commercial picing on goods and not actually start a business.

[Mojoe]

Here is the application for Ohio to become and LLC. Fill out the application, pay the state fee and you will have a legal business.

 

http://www.sos.state.oh.us/SOS/Upload/business/forms/532.pdf

 

Once you get the paper work back from the state you will need to get a Tax ID/EIN number. You can do that here and you will have you Tax-ID/EIN in about 5 mins.

 

https://sa2.www4.irs.gov/modiein/individual/index.jsp

 

Once that is complete register your business with Dunn and Brad St. It is a business credit reporting agency and the only one that really matters. The link to get your Dun number is below. Once you are registered be prepared to get calls from DnB as they will try to sell you one of their packages. You DO NOT need to pay for anything as it is 100% free. All you need is your Duns number, as you will be using it when applying for business accounts along with your Tax-ID.

 

http://fedgov.dnb.com/webform/pages/CCRSearch.jsp

 

Once you have a Duns number and a Tax ID you can start to open business accounts and build business credit. If you open any account with you SS# they will pull your personal credit and attach it to you. So if you have poor personal credit and try to open business accounts chances are you will get denied. If you want to build business credit and open up true business accounts with out using you SS# let me know and I can help.

 

Didn't realize you troll COS

[iwashmycar]

Money.

 

lol thats what i came in to say

[mrs.cos]

Didn't realize you troll COS

 

He doesnt, i stole his post.