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  1. #1
    ABW Veteran jc101's Avatar
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    Hmm can anyone point information to what info I need to know once my business gets huge, where I'll need some more help. can someone lead to information on hiring people, what can be considered tax deductible, how I register to be a business and stuff like that..
    Hope that makes since. Does anyone know any good methods on offline promotion?

    Thanks

    goal: $5000 a month by 11/26
    Financial free by 2004.
    Jason- Santa Cruz, CA

  2. #2
    ABW Ambassador
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    Hi Jason, how has June started for you?

    www.cjshoppingnetwork.com

  3. #3
    ABW Veteran jc101's Avatar
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    Actually it's looking pretty good, I'm not ready yet to launch. Just want to get all the info ready, bookmarked. :0). I'm going to stay private though, not major advertising like netflix did quite yet.

    goal: $5000 a month by 11/26
    Financial free by 2004.
    Jason- Santa Cruz, CA

  4. #4
    ABW Ambassador
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    Lost me again about hiring people, launching, staying private, netflix etc., don't know what you're talking about.

    But as far as the other stuff that was new to me last year. I went to the local courthouse to get a business license, don't know if thats the same everywhere. Then this April i got an accountant for the first time in my life to do my taxes. Basically he said to just bring in any 1099 i get at the end of year, and keep track of stuff like costs assoiated with affiliate marketing, hosting, domain, advertising etc. Bring all that stuff and let the accountants do their thing.

    "Nothing focuses the mind better than the constant sight of a competitor who wants to wipe you off the map."
    --Wayne Calloway

  5. #5
    ABW Ambassador
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    jasonco12, every state has different rules. Check with your state or an accountant. Most will give you free advice for starting out.

    In California, they have some min tax you must file each year, if you don't they charge you the difference - i think it was something like that. So you may want to hold off until you are making enough to cover it.

    It is all pretty simple if you keep yourself a cash business - where you book you income and expensense as they happen, not as they become known. The IRS really doesn't care where you get your money from, they just care where it goes. So even now, keep receipts for everything.

    Chet

  6. #6
    Newbie
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    January 18th, 2005
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    Hi Jasonco,

    Yes, every state has different rules as far as registering a business goes. You generally register a business with your city/town. Also, the state may have some requirements you need to follow.

    As far as to what is deductible, the general rule is everything expended to produce business income is deductible. Also, keep in mind that if you use a room for your business in your house/condo/apartment exclusively for the business, you can take a percentage of all ordinary and necessary expenses, i.e. electricity, rent, mortgage, RE taxes, repairs, internet access fee, telephone charges, office furniture/equipment, water bills, etc.

    Business cards have worked well for us for offline promotion, but first make sure you have an extensive online newsletter (nothing beats that).

    One of the keys to saving money running a business is keeping good records and getting a good tax accountant if you are not a "do it your selfer".

    Good luck.

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