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legal stuff. which is the best to go at it.

by Matthewgen
3 replies
I am just starting out with the offline business and wondering how other people take care of all the legal stuff. like the contact/agreement forms, and getting paid, do you report it to the IRS as soon as you start making money? or do you wait until you get a good solid client base going (enough to pay the bills)

I am really needing this to work for me, money has always been a issue for me and I need to get my life back in order.

any tips on the legal stuff is helpful. (I know some people what until the problem is there before they worry about it) but I know how much of a pain the "legal stuff" can be for a new business.
(by knowing someone with their own construction company)
#legal #stuff
  • Profile picture of the author Pierre!
    Hello Matthewgen,

    Well, truthfully, based on the information we have about you right now, there isn't too much to say!

    I see that you have referenced the IRS, which may mean that you are in the USA like I am... but that would be my assumption...

    Adding to the question of what country you are in, comes the question of what state/province/region you are subject to as well... then there is the city thing... Lots of legalese to wade through... So now you know why the 'frowning face'...

    Please share where you are, down to the city, and perhaps someone here can point you to a resource. You say you have had issues with money in the past... so I would point you to an Accountant in your current city.

    Then there is your offline industry - some industries have stringent requirements and regulations, others are more flexible.

    The short answer is... tell us more, much more, about what you have in mind... and perhaps the master will come along shortly!

    Sorry to be the rain on your parade, but hopefully it was delivered as >gently< as I *thought* I did... :p

    So fill us in, and let's see what happens!

    To YOUR Success,
    Patrick
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  • Profile picture of the author Matthewgen
    I live in massachusetts near worcester. and that is usa. I haven't have trouble with money before myself but knows someone who had a little trouble starting up.

    I mainly want to know how you(people on this site) deal with clients and the money part of the business. like contract and stuff like that.
    thanks for saying that you need more information.
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  • Profile picture of the author Creativegirl
    You want to set up the business properly for your state. If you require a resale tax license you may have to submit quarterly reports and payments. IRS though can be annual filing until you start making money and then you may want to do quarterly estimates with them. A good small business CPA will be your best friend for dealing with the tax obligations and to help you get the most business deductions. They can save you far more than you will end up owing.

    Yes you should use contracts in your business, especially for web design and internet marketing. They can be simple one page agreements or lengthy legalese contracts. Some folks share them on here and some WOSs have included them.

    Money is up to you. Generally a 1/3 or 1/2 deposit is appropriate on web design and other services. Monthly seo or other IM services you want to collect in advance.

    Hope that helps and good luck.
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