want to start my own business as a book keeper, need the basic guidelines where to start from?

Answer 1

The best routes to take are to research the process of starting a business as well as the industry you're interested in.

I recommend checking out the SBA, Entrepreneur, The Start Up Journal & Nolo. All 4 are great informational resources for the new/small business owner. I posted links for you in the source box.

Associations may be a good avenue to explore. These organizations will address many of the thoughts, questions and concerns you'll inevitably have as well as many you haven't anticipated yet. See the source box for some relevant links.

Research, research, research – this cannot be stressed enough. Read as much as you can about the industry. Here are some book titles that are relevant:

* Bookkeeping & Tax Preparation: Start & Build a Prosperous Bookkeeping, Tax, & Financial Services Business by Gordon P. Lewis
* Start & Run a Bookkeeping Business by Angie Mohr
* How to Open your own In-Home Bookkeeping Service 2nd Edition by Julie Mucha-Aydlott

There are plenty of free informational resources out there. Check the source box for links to articles.

Hope that helps! I wish you much success & happiness in all your ventures!

Answer 2

I am an accountant and I have an MBA.
First, if you don't have some of competitive advantage over other established accounting providers or there are just not enough accountants in your area then your long term chances of success may be slim. Some common advantages would be specialized industry experience, being a licensed CPA, etc.

Second, the position of book keeper is usually the bottom rung of the accounting ladder so you should just call yourself an accountant from now on, it sounds more professional.

Third, every small business owner should start their business as an LLC (limited liability corporation) even if they are the only worker. This makes the business a legally separate entity from yourself which will shield your personal assets from lawsuits etc. The LLC will then either pay you a salary or a portion of profits. By paying yourself a large salary the LLC will probably have a loss at the end of the year for tax purposes (which decreases the tax liability of the LLC) meanwhile you personally will be paid the salary. You will have to pay personal income taxes on the salary.

Fourth, make sure that you have enough cash on hand either in the LLC's name or your own or have a line of credit available to cover expenses during the hard times when you don't have a lot of income coming in.

Lastly, make sure you spend enough time, energy and money marketing your business so that you actually generate interest and income.

Answer 3

business enterprise licenses are often dealt with on the municipal, not the state, point. the superb thank you to verify what's in touch is to call the city corridor of city or city wherein your business enterprise is to be placed and ask them. in the adventure that your business enterprise is going to be in an unincorporated element of a county, then you certainly might desire to touch the county workplaces and ask. once you're thinking that as a coach, you will shuttle outdoors of your place region to circulate to shows, and subsequently you're thinking in case you're able to be authorized anyplace you circulate, i've got faith the answer to that's "no," besides the undeniable fact which you're answerable for sales tax outdoors your place base in case you do horse procuring and advertising outdoors the state. (the best factor you're able to do once you're going into business enterprise is to get your self an exceptionally stable, truthful accountant who can show you how to with the business enterprise factors.) in case you thoroughly relocate, definite you will might desire to get a business enterprise license interior the recent region. the fee of business enterprise licenses isn't often very severe. once you're curious, call your interior of reach city corridor and ask. ***************************** Addendum: you point out the licensing requirement for a racehorse coach. know what the standards are to hold close out your shingle as a horse teach coach? answer: you desire a hammer, nails and a shingle to hold close out. there is not any requirement for absolutely everyone who trains horses for shows or supplies classes to people to have any academic or information-based credentials in any respect. No attempt to take, no examine via absolutely everyone into your history, no certification or score. No not something. this is real that some businesses like Pony club furnish certificates that are information-based, yet those are not required. some disciplines like dressage are prepared in a manner which you will verify somebody's credentials interior the business enterprise that governs dressage rules and shows, yet a lot of disciplines (e.g. hunters, western excitement, remarkable breed teach disciplines) have no requirement for a individual who touts themselves as a coach to have any credentials in any respect. relaxing, huh? Even extra suitable: people who practice horses normally manage toddlers on condition that maximum exhibiting is finished via young ones riders, and there is not any requirement for running shoes to be investigated or in any different case credentialled to artwork with toddlers.

Answer 4

Call an accountant to give you the pros and cons of incorporating, LLC, LLP, sole proprieter. I have a good accountant if you need him.