Hi, there. I'm trying to write a cash flow statement for a potential business idea that I am contemplating and I'm about to pull my hair out trying to figure out what sort of licenses, taxes, and insurance I may need to get and how much I can estimate them to be. My idea is a website that promotes healthy living of users by rewarding points from purchases made through approved healthy businesses, which are redeemable for prizes and discounts. The healthy businesses that choose to advertise with me will be the source of most revenue. The prizes that are redeemable will come from amazon.com that I will pay for (at least in the scenario im currently considering) and ship to the user. They "pay" for these prizes with the points they have accumulated. The only information hours of research concludes is that I am going to have to pay self employment tax of 13.3% but I can't figure out what else. Please help! I live in Oviedo, FL. For now, I plan to have no employees (perhaps independent contractors in the future), I don't purchase anything at wholesale, and I am operating from home.I welcome any and all suggestions. Thank you.
http://sbdc.seminolestate.edu/ might be the answer to your problem. SBDCs are funded by the SBA, and usually are housed in Universities or Colleges. They hold business planning sessions on Saturdays and in the evenings, plus they will accommodate you if you can't make a class. This is the best way to get started with a business plan, and they have the resources to help you with the marketing research you will need to see if this is something that is a viable business. Best of luck!
Hi Caitlin,Check out our page on obtaining business licenses and permits, where you can focus your search. Our Business Licenses and Permits Search Tool allows you to get a listing of federal, state and local permits, licenses, and registrations you'll need.You'll also find useful information in our online business section and within our tax resources.
I've read all this links. the unique nature of the business is what confuses me I think. Is there any one I could go to or ask that could give me a list so that I'm sure?
kmurray | Community Moderator |
10/14/2011 - 11:25 am
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I've read all this links. the unique nature of the business is what confuses me I think. Is there any one I could go to or ask that could give me a list so that I'm sure?
Hi Caitlin,
One approach that may be useful is talking to a mentor who could offer you specific guidance.
Another great resource is SCORE, which is a nonprofit association comprised of thousands of volunteer business counselors throughout the country. They are trained to serve as advisors and mentors to aspiring entrepreneurs and business owners-at no cost to you! You can find your local office or set up an online meeting to chat with someone about your questions.
lmbliley | Performer | 10/15/2011 - 2:07 pm
kmurray | Community Moderator | 10/13/2011 - 4:01 pm
caitlin-havener | Window Shopper | 10/13/2011 - 5:07 pm
kmurray | Community Moderator | 10/14/2011 - 11:25 am
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