Hot Business Tips

AC/DC asked:


Hi,

I want to start a online business for advertising ads on it and some people said to me that the only legal procedure I need to take is to create a PayPal Business Account? If so, is it true? Where can I enroll that Business Account stuff and is it expensive?

Thanks for your help.
I live in Alberta, Canada, btw.

Matt asked:


I am about to start a new business entity (probably an LLC), but I have already been earning income (intended for this business) under my name and personal bank account, since the LLC has not been formed yet and I do not have a business bank acount yet.

I will probably be filing IRS Form 8832 so that the LLC is taxed like a corporation, and can seperate my personal income tax from my business income tax.

Can I transfer income related to the business that i personally received before starting the LLC into the LLC so that the business would be taxed on it, and it would not be applicable towards my personal tax? How would this be done?

The income was received within the 2006 tax year, so I’m assuming i may need to start the LLC within 2006 as well?

Chuck M asked:


I have two businesses that are working well.

I would like to start a third business that is in competition with some clients from both of those businesses. I would like to be able to create this corporation with very arm’s length links (I don’t want anyone to be able to “lookup” the owners). I need to be able to open a bank account, receive cheques, etc…

I want it to be completly legal, my worry is that if a client finds out, both businesses are shot. So lots riding on it. Any suggestions?

raymond m asked:


I am trying to consolidate my bills and get my credit clear so I can start a business.I have very,very bad credit and I am tryiing to start a business. How would I get a credit card for my business with extremly bad credit. And who will except me?

debdozier asked:


I am doing research for an entrepreneurship class. I need to identify ideas and trends to start a successful business now and for the next few years. Any ideas or resources, statistics?

Jack asked:


I’m thinking about turning my online selling into a business, and I’m trying to get a feel for the tax-related pros and cons of making it official.

Here are 2 questions:
(1) I understand that I can write off business expenses on my tax returns. That includes computer equipment, trips overseas to purchase merchandise, etc. But I’ve never itemized my tax return before. Would I get more money back if I start a business, and then itemize my deductions rather than just taking the default deduction like I always do?

(2) If I make my online selling into an official business, will I have to pay extra business-related taxes?

Chris M asked:


I want to start a business by putting candy machines in different businesses. I was just wondering do I need some kind of business license to do this. Also if it’s any help I want to do this in Texas.

Abhilash K asked:


I am planning to start software development business in India but I don’t want to register my business as a company. I won’t be having a office set up to do business. The business will be done at home. To do such a business do I need to register my business as a company with the government?

vashtu asked:


I wish to start a small to medium sized business. I want to know what are the pre-requirements? How should I go about? Which would be the best business in which our physical presence is not needed all the time and returns are high with less investments. My likings are some thing to start in fast food business. What cab be good business opportunities?

curious asked:


In the process of opening a new business. How do business loans work – I know I need a business plan etc before I can apply for a loan, but what’s some other info? What’s the interest rate range, what’s the range of how many yrs u can have the loan, range of amnt they can loan, will they include the first yrs lease amnt in the loan if needed…etc, etc?
We have good credit.