Your Questions About Business Online Services
William asks…
I want to start a business online, I’m curious about what’s legal?
I want to start selling basically clothing online, and I was wondering about the legal side? I’ve been looking up so many things, about permits, and the different types and frankly it’s confused me because different sites say different things. Does anyone know about this? Any information would be helpful. Also I live Pennsylvania.
Thank you, this information was all extremely helpful to me.
Jere answers:
You won’t need a permit because there is no regulation in the clothing industry. Permits typically only apply if you are selling guns, alcohol, investment services, farming, bank products, etc. Clothing is pretty harmless though so you are good.
You will need to file taxes though. Also since you are selling merchandise you will have to pay state sales tax. For information on this look up your state and local sales tax rates.
Essentially all you need to do is start selling your product. Keep track of how much revenue you earn (how much gross money you get from each sale) and then subtract your expenses such as:
Cost of Goods Sold (the cost of the clothing when you bought it)
Wage expenses (if you have employees)
Operating expenses
Sales taxes due
etc
At the end of the year either you or an accountant that you hire are going to have to take all of these piles of receipts that you kept and logs of revenues and expenses that you kept and will create an income statement.
From there you will be able to calculate the taxes that you owe the government so that you can pay them. Yipee!! 🙂
You might consider taking a crash course in accounting 101, buying a book, or just call an accountant. It is better to start off on the right foot. The most annoying thing about owning a business is keeping track of your records. However this is critical because you will need to pay taxes, and if you ever plan to expand your business, these well kept records will help you to get loans, attract investors, and manage your ever increasingly complicated business.
Jenny asks…
Is this grounds to become an emancipated minor?
I am 16 and live in the state of Kentucky.
For the last 5 years I have been doing web design and small ebusiness consulting on and off.
WIthin the last year it has really picked up, and I need to expand. This means renting more office space, hiring employees, and haveing to enter into contracts with clients.
The problem I have been having is that because I am under the age of 18 my parents have to co-sign, or agree to every thing, and it slows down the process causing me to loose business.
Other then my main company I have smaller “on the side” sources of income, one is a sucessful travel website, other include online subscription services, and one on those “I sell it for you on eBay places”, so finacial stability is no problem, I make more a week then my parents do anyway.
(I have cought them stealing my money, too.)
Do I have a good case for becoming an emancipated minor, or am I paying taxes for nothing?
I’d call down to the legal dept. but they are drinking buddies with my parents, who have to sign their checks because im not 18.
Jere answers:
The one line that convinced me that you certainly have a case for emancipation is: (I have caught them stealing my money too) Get yourself a lawyer and go for it. You are more prepared for adulthood than 90% of the “Adults” I know including many my age and older (50)
Lisa asks…
where can I ind a free buisness studies course online?
I would like to do a buisness studies course but cant afford college is there any where that does a ree online service where i can do the course from home?
Jere answers:
There’s no such free business class/course site. Even if there was, it would be a waste of time. No employer recognizes online ‘degrees’.
Joseph asks…
How do I find networking contacts online?
I’ve created a business website(bizcenter.services.officelive.com) to help other people/businesses succeed with their event/business idea. I offer web design through multiple web hosts, invitations, business planning, flyers, newsletters, etc. I need a little help though getting the contacts. Can anyone help me?
Jere answers:
Try
http://www.scriptlance.com/?ref=tademosu
Laura asks…
How can I duplicate postcards that I previously had made for marketing purposes. I only have the hard copy?
The guy who did them for me before is now out of business, and I don’t have an electronic copy of the design to upload to any online print services. I was wondering if there was any way I could some how duplicate it. I feel that If I scan and crop it the quality will not come out the same. Thanks for the help!
Jere answers:
Hello,
This same situation happened to me. I called the Printing company that I always use http://www.printfirm.com and they told me that if I had a good scanner that would scan the image at @ 900 dpi, then shrink it down to 350 dpi it would be close. They said it would never be as good as the digital file but it would be close. My suggestion is to give it a try and don’t be afraid to play around with the colors when you scan so that you get what your looking for. If you want you can give the guys at print firm a call. They will explain it in more detail. There number is 866-668-5152.
For your reference here is the link to where I bought mine. I was really surprised that the postcards came out as good as they did being scanned, but in my opinion they didn’t look any different from the original.
Http://www.printfirm.com/postcards/
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