Tips for starting your own business!

Here's some advice when you start your own company.

I went to the bank and turned my checking account into a business account. I have owned businesses before in another state so I thought it was going to be a simple DBA account with simple paper work. Not in the state of Massachusetts. It seems that in the state of MA one must be registered with the city to have a business checking account.

So I hurried to city hall and I had to fill out a simple document and pay $40.00. The good thing is that it the clerk did it right there on the spot and this document is valid for 4 years as long as the address is valid.

I had to divulge where my source of income was going to come from. Give an approximate income for the 1st year of business. This and more information was collected from me to make sure I was not collecting money for terrorist activities or the mob.

Please do your homework before leaving the house. In class the instructors stress proper legal counsel, incorporation to protect your “ASSets” and tax advice from a license professional. Take it from someone that has encountered legal issues in the past. The hundreds of dollars that you are spending now may be the ones that saves you thousands or even millions in the future.