[dodgydodger]

Hi I'm new and looking to start my own plastering business.
I completed all background work etc... e.g. what is my compitition and available to me...
Clientele, information handouts, knowing people, what is needed to start etc.. And how much will it cost.

Im concerned about registering, where to register my name and once I register will I asked to pay tax etc... have been looking on the net for help but don't get actual answers I'm looking for.

Finance is another area I'm concerned with, I no I will need accountant but at this stage of business what are the fundamental aspects needed for administration purposes or what will be the main areas I will be needed?

Help will be appreciated thanks

[jeffinnport]

It's state dependent, but you probably don't have to pay taxes just for registering the business - just the registration fee. As far as where and how to register, contact your local chamber of commerce, they will be able to ehlp.

You should give some attention to the structure of the business. In many places you can register by just DBA - doing business as.

I'd recommend setting up an LLC - limited liability corporation. Doesn't cost that much - maybe a few hundred dollars if you use an attorney - and the benefit is that it shields you personally from liability. So the company could be sued for a company related matter, but you can't. In contrast if you go the DBA route, if the company gets sued, you're the one being sued.

As far as finance, get a separate bank account for the business. Keep every single piece of paper that has to do with running the business - receipts for your supplies, your expenses (for instance, keep track of your mileage) as well as invoices to customers and copies of their checks. That's what an accountant will need for dealing with taxes.

It wouldn't hurt for you to have a short appointment with an accountant to just understand business tax law in your state and locality - it varies widely. Or at the least read the business tax section on your state web site.