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October 27, 2021
Question

Starting a Business

  • October 27, 2021
  • 1 reply
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Can you please provide the best tips to start a business. It's just me selling handmade gifts, digital files, and other trinkets on Etsy and my own website. I haven't been able to successfully launch anything because the legal stuff scares me. I also have a full time job, so this will be a side business. My thoughts were to create an LLC, get a separate bank account, and start, but just not sure if I am missing anything or how to file these taxes correctly. Thanks

    1 reply

    Sunny_Tax_Expert
    October 27, 2021

    Hi @traceyyyand,

     

    First off, congratulations!

     

    Three of your main concerns should be:

    Which accounting method to choose
    How to pay estimated taxes
    Keeping track of expenses

     

    This TurboTax article, Starting a Business, has been updated for 2021 and covers all three areas nicely!

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