How do I start a sole proprietorship?

How do I start a sole proprietorship?

Starting a sole proprietorship is quite simple! First, choose a business name and check if it's available. Then, register your business if required by your state.

Do I need to register my business name?

It depends on your location. In many places, if you use your own name, you may not need to register. However, if you choose a different name, you might need to file a 'Doing Business As' (DBA) registration.

What about taxes? How do I handle them?

As a sole proprietor, you'll report your business income on your personal tax return using Schedule C. It's important to keep track of your expenses for deductions.

Are there any licenses or permits I need?

Yes, depending on your business type and location, you may need specific licenses or permits. It's best to check with your local government.