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| Starting a(n) Coaching Business Licenses & Tax IDs |
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Hi, I'm Elexie Life coach
Online, Home life coaching tutorials one-on-one sessions live tarot reading, courses meditation guides ## Business Structure: Laying the Foundation Your business structure will influence legal liability, taxes, and operations: Sole Proprietorship: Simplest structure but offers no personal liabilit..., Elexie. |
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Hi, I'm forming an llc for free
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Here's a short overview of the licenses and registrations you may need for your home-based LLC offering life coaching, tutorials, tarot reading, courses, and meditation guides:
Business Formation and Registration
LLC Formation Documents
Employer Identification Number (EIN)
Business License
Home Occupation Permit (if required for home-based businesses in your area)
Professional Licenses and Certifications
Life Coaching Certification (though not legally required, it may enhance credibility)
Tarot Reading Permit (some jurisdictions regulate fortune-telling services)
Online Business Requirements
Domain Registration
Website Terms of Service and Privacy Policy
E-commerce Platform Registration (if selling courses or guides online) This list covers the main licenses and registrations typically associated with your type of business. The specific requirements can vary based on your location and the exact nature of your services. |
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Business Structure To operate as a home-based life coach providing tutorials, one-on-one sessions, live tarot readings, courses, and meditation guides, you’ll need to establish your business structure. Forming an LLC is a common choice, and having an operating agreement in place is essential before opening an LLC bank account. This agreement outlines the business's financial and operational decisions, ensuring everything runs smoothly.
Licenses and Permits Your business may require specific licenses depending on the services you're offering. Here’s a basic list:
General Business License
Home Occupation Permit
Professional License (if your state requires it for life coaching)
Sales Tax Permit (if you're selling courses or guides)
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| Business Structure: Laying the Foundation
Your business structure will influence legal liability, taxes, and operations:
- Sole Proprietorship: Simplest structure but offers no personal liability protection.
- Limited Liability Company (LLC): Provides personal liability protection, making it a popular choice for small businesses.
- Corporation: Offers the highest level of liability protection but is more complex and costly to set up.
Licensing and Permits: Navigating the Legal Landscape While operating from home, you might encounter some legal requirements:
- Business License: Necessary to operate under your chosen business name.
- Seller's Permit: Required for collecting sales tax on your products.
- Home-Based Business Permit: Might be necessary depending on local regulations.
- Zoning Regulations: Ensure your home-based business complies with zoning laws.
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1. SELECT LLC, DBA, CORP
From sole propr., OH LLC, OH partneship or OH Corp.: Each requires an entity certificate filing.
2. TAX IDs - PERMITS
All
Services
businesses/entities need a business license and an EIN.
3.
OH STATE SALES TAX ID.
Selling/Buying wholesale or retail
requires a OH seller's permit.
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You can choose to be a(n) :
- Sole Proprietor,
- LLC,
- Corporation or
- Partnership.
After you decide and select your business entity, you need licensing.
Findlay Business Tax Registration (
Business License)
All businesses including home, online or mobile BUSINESS need a BUSINESS license because they are BUSINESSES.
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A(n) business using a fictitious business name in
Hancock County
i.e. you are a business with a trade name other than the owner's legal (full name) name are required to get a(n)
fictitious business name.
For instance you open a(n)
business and you name it "Superior
Group". You will need to file a fictitious business name for that name.
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In addition note that in
OH
you may also need a seller's permit if you sell merchandise that is taxable.
(A.K.A state id, wholesale, resale,
reseller certificate, about $39 for most states).
Seller's Permit
Note: All businesses need a federal tax ID number except sole proprietors that are not employers and are not independent contractors.
An independent contractor is a self employed business person that receives more than $600 per year from anyone of his or her clients.
IRS rule: The client must issue a 1099 form to the independent contractor and the independent contractor must have a federal tax ID.
However, even sole owners may obtain a federal ID and use it as a business tax ID instead of using their own social security number as a
business tax ID number.
However, all other licenses that apply to sole proprietors as discussed here are requited regardless of getting
a federal tax ID number.
In addition you will need a federal and a state EIN if you will hire employees.
I.e., a OH Federal Tax Id Number ($29) and a(n) OH State Employer Tax Number
Instead of filing a fictitious business name DBA Filing (about $49 plus state and legal newspaper publication fees) in
Findlay, Incorporate in OH or form a(n) OH LLC .
You have a choice to file a DBA or form an LLC or incorporate.
There is a cicrcumstance that you may not need to register a trade name and that is when you use your full name as a business name if you use your full legal name as a trade name.
Also note that even using your first and last name may not help you avoid filing a DBA if the name has a suffix such as "& sons" etc.
If you do form an Services llc or incorporate (about $49 plus state fees for most states) your business instead of just filing a fictitious business name (dba),
that insurs that you don't have personal liability for debts and civile liabililty arising from your business dealings and you will not have to record the Findlay business name.
Instead of just registering your Hancock County assumed business name (our fee includes assumed business name registration and legal newspaper publication) you can choose to setup a corporation in
OH or form an OH LLC (starts @ $49 plus state fee for most states & includes required documents such as bylaws for the corporation and Limited Liability operating agreement for the LLC). .
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