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Re: New photo business in NYS - need help
In reply to MichaelK81,
3 months ago
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MichaelK81 wrote:
I wouldn't trust an online forum for legitimate business advice. If you intend to run a business, and you've already applied for an LLC (which, in itself will cost you over a thousand dollars), I suggest you consult an attorney/accountant for these matters. Yes, you do need to collect sales tax, yes you should get a federal tax ID. Best of luck!
--
MICHAEL KORMOS PHOTOGRAPHY
http://www.michaelkormos.com
Is the 1000 bucks a NY thing? I just recently set up another LLC (non photography) in Michigan as an S corporation for 50 bucks plus a small fee to expedite. I did it all myself. It was simple and in my opinion makes things much easier come tax time.
I believe a bank will also require an EIN if you want a bank account in the business name so you can accept checks made out to the business.
That is the extent of my knowledge on this issue. My bookkeeper (my dad) handles all of the other stuff. I'm lucky to have him.
And I agree the original poster should really consult a tax guy and or a lawyer.
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