I did it ...

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coolmama72's picture
Last seen: 4 years 3 months ago
Joined: 10/20/01
Posts: 8185
I did it ...

I filed to be an LLC.

It's a scary feeling. I really hope I'm good enough. I'm going to get my ducks all in a row before I start really charging. I need to be able to charge sales tax on products. So once I get the approval for the LLC, I have to file the DBA (as I don't want LLC in my name, so I need a "doing business as" without it), get an EIN for the business, get a business bank account, register to charge sales tax, and get a permit to operate a business in my home (as I can do studio work inside). So the LLC is just the first step. I just can't do much else until that's been approved.

Scary but exciting times!

My DH is supportive to a point. I have to try to get my editing done more quickly, and during the day. School starts on Tuesday, and I'm going to be disciplined with a schedule to include editing, scrapbooking (I dearly miss it) and exercise. Cross your fingers that everything falls together. I want to move forward ... but I can't really do more than 1-3 sessions a month yet.

Amy_&_Eva's picture
Last seen: 1 year 10 months ago
Joined: 08/23/07
Posts: 2378

Good luck Gwen!! I actually am familiar with all that "jargon" since I help my SIL with her restaurant bookkeeping and she became an LLC last year. I do all her payroll, tax filings, record-keeping, etc. It's really not bad, paperwork wise, once you get the IRS & state all straightened out--they are pretty dumb sometimes lol!

I hope that since your kids will be in school you'll be able to get your routine down pat for yourself. I look forward to seeing your new work, as always! Smile

ButtonsMama's picture
Last seen: 4 years 10 months ago
Joined: 12/05/05
Posts: 283

Congratulations!! That really is very exciting. I'm sure that once you start doing everything, you'll develop a system and a schedule that works for all of you. It will take some trial and error though. I bet your DH will be more supportive once he sees the extra money rolling in from all the people that want to book you!!

sadieruth's picture
Last seen: 2 days 18 hours ago
Joined: 06/09/05
Posts: 6267

I don't understand all the abbrevations either, but I am guessing it means you are going to start your business! That's awesome! I think you will be okay with the schedule- you are superwoman in my eyes!

fudd8963's picture
Last seen: 3 years 7 months ago
Joined: 12/27/07
Posts: 1630

Congratulations! I think you will do great! I LOVE your work and if you lived closer I would come to you for some family photos.

coolmama72's picture
Last seen: 4 years 3 months ago
Joined: 10/20/01
Posts: 8185

thanks for the support girls! it means a lot to me. I need to get from under my backlog and I hope to do a promotional event to kick things off once all of the paperwork is done (like Christmas card mini sessions or something)

LLC is Limited Liability Corporation - means that the business is separate from my family. if my business gets sued for whatever reason, my family assets can't be touched. my equipment will be in my name, on loan to the business so that it's safe. Wink

Last seen: 1 day 17 hours ago
Joined: 10/26/01
Posts: 3627

You're gonna do GREAT, Gwen!!!!! You have a great eye for this work and I know that it's gonna work out in the long run. I know working into a new schedule is never easy, but with the older kids going back to school soon, it's time for everyone to adopt a new schedule so hopefully that will help to ease into things for everyone.

I think a holiday mini-session promotional will be a really fun way to kick off your business!



La123's picture
Last seen: 3 years 11 months ago
Joined: 04/11/08
Posts: 815

That's a big step! Congratulations! Yahoo

JDBabyHopes's picture
Last seen: 3 years 5 months ago
Joined: 02/16/09
Posts: 1149

That's awesome! Congrats!! Smile

Last seen: 1 year 7 months ago
Joined: 03/16/15
Posts: 53852

How exciting!!! Congrats to you!!! Hope it all works out quickly for you!! The EIN should probably be the easiest thing to get. I had to get one for a non-profit I ran

Jeffininer's picture
Last seen: 3 years 3 months ago
Joined: 11/07/07
Posts: 1796

Congrats Gwen!!! What a big step!!

connorsmum's picture
Last seen: 3 years 8 months ago
Joined: 11/29/02
Posts: 1160

Wow, that sounds like a huge, exciting step! Fingers crossed everything just drops nicely into place for you!