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<blockquote data-quote="elee950021" data-source="post: 736346" data-attributes="member: 48371"><p>Hark! I'm new here and this is reply among my first posts. I've been retired from a 40-yr photo business since 2008. I spent a lot of time and learned much from going to the School of Hard Knocks! First thing, as others have recommended, get professional legal and accounting advice. Believe me, in the long run, it will be among the least expensive things you will get for your business.</p><p></p><p>Most things were covered but don't forget to sign up with your local and state Sales Tax Departments. We had a visit from from the state sales tax department and it wasn't a pleasant experience. And if required to collect, you must send in all taxes in a timely manner or face penalties and interest. Our audit only penalized us for a few bucks!</p><p></p><p>Be well! Ed</p></blockquote><p></p>
[QUOTE="elee950021, post: 736346, member: 48371"] Hark! I'm new here and this is reply among my first posts. I've been retired from a 40-yr photo business since 2008. I spent a lot of time and learned much from going to the School of Hard Knocks! First thing, as others have recommended, get professional legal and accounting advice. Believe me, in the long run, it will be among the least expensive things you will get for your business. Most things were covered but don't forget to sign up with your local and state Sales Tax Departments. We had a visit from from the state sales tax department and it wasn't a pleasant experience. And if required to collect, you must send in all taxes in a timely manner or face penalties and interest. Our audit only penalized us for a few bucks! Be well! Ed [/QUOTE]
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