| First step: Business plan. It will give you a lot to think about, make you do a lot of planning and let you know if your idea is feasible. The Small Business Administration has a plan on their site. I'll link it below. Yes, if you are in business you deduct your expenses from your income. You need to check your zoning laws to be sure you can operate a business in your location. Find out what licenses are required. I'm required to have a sales tax id. I don't pay sales tax on supplies and I must (emphasis on must) collect sales tax on taxable items that I sell and turn it in with a report to the state at specific times. Google "Indiana Small Business" for lots of info on small businesses in your state. There's a lot available to you. SCORE www.score.org is helpful. My cooperative extension has an excellent business plan. You can call your extension to find out if they have one. Any business worth starting is worth starting well. If you want the business to be truly profitable take the time to do your research and get yourself set up on a good foundation. A lot of people have great ideas but didn't get a good start. I operate a greenhouse as part of my agricultural business. It's a great way to earn a living. |
Here is a link that might be useful: Small Business Administration Business Plan
