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Very good advice! (Read 1,125 times)
 
Steve Rollinson
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Very good advice!
Aug 17th, 2014 at 6:17am
 
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JimQuarles
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Re: Very good advice!
Reply #1 - Aug 17th, 2014 at 12:54pm
 
Two points that screamed at me. 

You do NOT need a Federal tax ID unless you hire someone to work for you, or you are a partnership or a corporation. 

As to the State sales tax registration, that will depend on what state you live in, but some states, like NY, expect you to register and collect sales tax even if you sell less than $100 worth of product in a year.  The penalty can be as high as 10 times the registration fee and taxes that should have been collected.
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Re: Very good advice!
Reply #2 - Aug 17th, 2014 at 1:33pm
 
JimQuarles wrote on Aug 17th, 2014 at 12:54pm:
You do NOT need a Federal tax ID



If you are a one person shop you can get away with just using your Social Security #.
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