I thought since I had a little extra time this afternoon, that I would look into making Mewes Mountain Arts a little more official. I headed over to the IRS web site and did a search for starting a business. All I have to say is WOW! My head is spinning...There appears to be a few steps to making it happen. This not all inclusive checklist is provided on the IRS site with links to more information:
- Apply for an employer Identification Number (EIN) if applicable
- Select a business structure
- Choose a tax year
- Choose your accounting method
- If you have employees, have them fill out all of the appropriate forms.
- Pay your business taxes
What?!? So while looking at each of these items in a little more detail, I found a site that asks very specific questions about starting up your own business. When you click submit, it provides several resources for preparing to start your new venture. While I have a Master's Degree and I have attended countless business-related courses and seminars, I think there is definitely room to grow on my part.
As I go through the process, I hope to share the steps with you so you can become familiar with the process BEFORE jumping in all the way. Just look for posts titled "How to Start a Business 101". I am at step one which is researching what step two is. As soon as I know - I will be sure to share; wish me luck!