I’m a firm believer that it is our responsibility to educate ourselves on the importance of being a legal & legit small business owner. It’s so much more than turning your hobby into a business, it’s about ensuring that hobby doesn’t run you into the ground and is profitable. You shouldn’t be serving clients for income without first establishing your business as just that, a business. Whether it’s $400 or $40,000, you are legally obligated to claim it as income.
The quick education.
You’ll need to choose a form of business & jurisdiction.
You’ll need to choose a business name to register.
You’ll need to learn about your finances (Tracking income, expenses, paying taxes, paying yourself).
You’ll need to learn about insurance so your business can survive what life throws your way.
You’ll need to file taxes.
If you’re hoping for a deeper dive into what it takes to be a responsible business owner and what paying taxes means, you can grab your copy of TWO guides straight into your inbox below.