![]() ![]() Square is easy to use, with tools to help you create an invoice (with or without a logo), take credit card information, manage your payments online or through the mobile app (iOS/Android). Using an option such as Square has low-cost, no-code contracts, subscriptions, and invoicing platforms that will have you up and running in no time. Decide how you’re going to collect paymentsĭecide how you’re going to collect payments or subscriptions. ![]() You may even want to consider using multiple financing methods simultaneously (this is called “hybrid funding”). Decide which is going to work best for you.Įach option has its own pros and cons that should be weighed carefully before making your decision. Some folks have personal savings they’d rather use too. You can start with a loan from your bank, look into a line of credit or explore other options like a business credit card and/or merchant cash advance. In order to start your business, you need to make some financing decisions that have to correlate with your business plan. Make financing decisions that align with your business plan However, it’s easy to notice that a successful entrepreneur usually has very active social media – so make sure your new business does too! 3. ![]() Many owners diminish the importance of social media and look at it as a waste of time or money. This will help you reach out to potential clients on your new business as well as give them an easy way to find you on the web. You also need to set up your Facebook page, Twitter account (and other social channels if appropriate). You can use Square, Carrd, or other no-code builders to create a simple website, or invest in a more robust system like Squarespace or WordPress (all of which are no-code), and the options are near limitless. Next, you’ll need to create a website and set up social media accounts. Set up a website and all the socials for your small online business So before deciding whether or not your online business should be set up as an LLC or Corp., talk with your CPA about which option would be best for both you and them! 2. However, you may choose to form yourself as a corporation and hire employees at some point in the future (which many virtual bookkeepers do), then an S-corp will make your life much easier when it comes time to pay taxes on their employment income each year because these employees are considered independent contractors rather than employees under payroll tax laws. ![]() In the beginning of your online business, you’ll be responsible for paying the taxes on your business profits on your own. The biggest difference between an S-corp and sole proprietorship is that an S-corp requires two owners, while a sole proprietorship only requires one owner. While many people assume that S-corp is the best option for bookkeeping services, this isn’t always the case. This is one of the biggest hurdles new businesses struggle with because they don’t ask the right questions or simply don’t seek simple tax advice. When you make a decision to start an online business, you’ll have to decide which legal structure best suits your needs. Decide on S-Corp or LLC: what’s the difference? Read on for a breakdown of all the steps you need to take if you want to get started with your own virtual bookkeeping shop as well! 1. It’s an exciting career and one that many accountants are flocking toward these days because it allows them to work remotely while still providing them with opportunities in their field of expertise. Our clients are all over the country, but they work with us and our staff online. Having been in accounting for the majority of my career, working both in-office and remotely, it’s fair to say that with some help, accountants can begin their own firm and do everything from taxes and payroll to personal finances. ![]()
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