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    Picking Your Brains...
    I just got my license to be an aromatherapist, and want to start my own side business. I stress "side" business, because I already have a full time job & am just looking to supplement my income.

    I would basically be making money two ways - by consultation, and by creating blends for clients to take home for inhalation and/or massage.

    It would just be myself, so I think from what I have been reading a sole proprietorship would be in order. If I am correct, this eliminates the need for a tax ID#, and I would file form C or C-EZ with my taxes at the end of the year. I think I still need to have a business license. Let me know if I have that right so far.

    Now, do I have to charge sales tax on my blends or can I just state a flat fee that covers my costs (since I will have already paid tax on the individual items needed to create these blends)? I know it is very costly to get a resale number, and that you have to first sell like $1,000. worth of stuff to qualify to get one. Not quite sure how all that works - and it could make my little side business impossibly expensive, since these blends are only $10 to $20 a pop.

    Any advice would be greatly appreciated!

    Anne


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    Hi Anne
    #2
    Guest
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    Anne,
    It won't be the crime of the century for you to test out your side business for a couple of months. Then if it's working out go get a business license.
    This is from your local city government. Next get the resale license. In the USA this is usually obtained from a Board of Equalization or equivalent government agency.
    Usually you only have to signup, and the fees are minimal. They should send you a tax rate card and other info you need to be aware of to collect sales taxes in your area. It's really pretty simple once you get going.

    But if you are not going to open a retail shop business location and keep selling out of your home it's up to you when you want to make that official jump unless your customer traffic is annoying your neighbors.

    Best of Luck to you..


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    You can charge a flat fee, but if you're going to set up the full business, you'll have to pay sales tax regardless of if you charged your customers or not. I'd agree with Gordon that there's no harm in just getting it going and only becoming official if it works out---of course, if you become official and it doesn't work out, you can claim losses in your taxes which would relieve your tax burden quite a bit. I'd discuss these matters with an accountant, one that gives a free consultation. They are much cheaper than you'd think, and could do you a world of good in terms of keeping your business clean.


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    The Vampy

    I think you are on the right track with the sole prop. Makes things simple. However, if you think that you could have some legal exposure with your aroma's then I would consider some sort of entity to separate your personal assets from any legal risks the business may pose.

    I cannot make any suggestions about sales tax, because they are dependent on what state you are in. I could only assist with Michigan.

    The only other question I have is if there are any FDA issues with your product?


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    JS

    Schultz & Associates, CPA[/URL]
    Plymouth, Michigan
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    If you're interested in learning to how to make daily sales on the world's biggest eCommerce sites, without spending any money up front, you're on the perfect page 297$
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