home business legalities
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I start a virtual assistant business and need to know the legalities behind starting a home business?
Chicago, Illinois … Do I need a business license insurance, should I register my business name? Do I need an EIN … is all this necessary or can I just build my website and begin to work? What about the IRS? I need help in any of these questions and anything else I may be missing … it would just be me working … no employees …
Ok, if you are the only employees as a sole proprietorship. From an IRS perspective, you do not need to apply for an EIN, you can simply use your social security number. IL may require that you can get an EIN as your services may require VAT to be collected (I'm not aware of sales tax in IL … check into it). Ask your local municipal government to To see if you need to get a business license to operate this type of activity in your home.
Pre-paid Legal in the news. Scam & Rip-off or Legit Home based business opportunity?