Starting your own tax business?

  • Creator
    Topic
  • #1706716
    Dan
    Participant

    I want to prepare taxes on the side to supplement the income from my current job. Could someone please describe the steps needed to prepare taxes for income? Even after the CPA, I can’t get a clear answer on the state of IL website.

    I got my PTIN and the next step is to create my own business. A co-worker, who does taxes on the side, is a sole proprietor. Is there any action that needs to be taken for me to be a sole-proprietor or do I just file a Schedule C next tax season? Do I need to visit a Secretary of State office or a county clerk’s office?

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  • #1706763
    win2bet
    Participant

    you should file with your state court house for a sole proprietorship, get an EIN from the IRS and open a bank account with the state court house “Doing business as” certificate and EIN from the IRS. Better to keep these things separate, even if it's a sole proprietorship

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    #1706793
    Recked
    Participant

    Don't forget your liability insurance!

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