Posted by Tara Gomez on 1/3/12 2:33pm Msg #408131
Business License
Hi all. I am not sure if there is a thread about this somewhere.. but I was wondering if any of you have a business license? I hear conflicting things on weather we need one or not. ANy input would be great. Thanks so much Tara
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Reply by Lee/AR on 1/3/12 2:42pm Msg #408133
area-specific requirement. I don't. Some do. n/m
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Reply by Eve/VA on 1/3/12 2:43pm Msg #408134
I'm on the fence about it. In a previous business, I had a license. I would be curious to see what others say as well.
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Reply by Buddy Young on 1/3/12 3:14pm Msg #408139
Re: I don't have one. n/m
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Reply by MW/VA on 1/3/12 3:51pm Msg #408141
If you use the orange search button you can pull
up previous discussions. Yes, I have a business license. It's really about paying taxes, like anything else. I chose to set up a legit business, believing it would add a level of credibility to this biz. I file a Schedule C for business income/expenses so I'd rather be legal all the way around. I know many who don't do any of that, however.
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Reply by John Tennant on 1/3/12 5:06pm Msg #408144
San Diego requires one, however, they do not enforce it unless they get a complaint from someone. I have had one for years because I am also an IRS Enrolled Agent and want to stay within the law. To each his own.
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Reply by JAM/CA on 1/3/12 8:31pm Msg #408157
I also have a business license for the City of San Jose, CA. I do make money above and beyond notarizations doing loan signings.
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Reply by Priscilla Witman on 1/3/12 10:07pm Msg #408166
I have a business license. I wanted to differentiate myself in a competetive market, and keep it all legit.
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Reply by JanetK_CA on 1/4/12 1:16am Msg #408168
My city doesn't require one, but as someone else said, this will vary a great deal geographically. Best to check with both your city and county to find out if one is required in your area.
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Reply by CopperheadVA on 1/4/12 10:22am Msg #408178
A business license is not required in my county, but they DO require you to register as a business so they can tax you. They receive copies of your Schedule C from the IRS, so even if you don't register they will catch up to you eventually. My county spells out the requirements on its "starting a business" webpage.
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Reply by Eileen McRorey on 1/4/12 11:14am Msg #408184
In Hawaii we get a business license from the state with a tax i.d. number and then have to pay the GET (General Excise Tax) of 4.5% (on Oahu) on the gross amount (no deductions) collected. I pay this semi-annually and also have to submit a yearly tax reconciliation form for taxes paid during the year. All businesses are supposed to have this license.
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