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Teach Soap • View topic - Business liscense etc......Q

Teach Soap

Soap Making Recipes, Tips and Tutorials
It is currently Mon Nov 25, 2024 2:45 pm

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PostPosted: Sun Apr 29, 2012 6:41 am 
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Joined: Sat Apr 21, 2012 2:21 pm
Posts: 77
Location: Richmond, Indiana
I know I am thinking ahead (I do that alot), but when we start selling our soaps I know we will need the insurance, and I am going to get that ASAP. But technically to be legal I need to get a Business liscense and tax ID to dont I? Basically register our business as legit. This also mean paying taxes....booo...lol. But anyway Is that the road I need to be headed down to make my soap selling and eventually candles legit? I have been reading more and found this info today so I thought I would ask you all. I am so greatfull to have people with so much knowledge about soapmaking and all that goes with it.


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PostPosted: Sun Apr 29, 2012 9:46 am 
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Location: Mistress Of Lather
Yes, that's what you need to do.

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Irena
Closed minds are like faulty parachutes; they refuse to open.


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PostPosted: Sun Apr 29, 2012 11:07 am 
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Location: Richmond, Indiana


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PostPosted: Sun Apr 29, 2012 4:28 pm 
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Joined: Sat Dec 11, 2010 7:14 am
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Location: Jefferson City, TN
Depending on how you register your business, (sole proprietor) you can use your SSN instead of getting a tax ID.

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Linda
I know the voices in my head aren't real, but they sure have some great ideas!



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PostPosted: Sun Apr 29, 2012 7:09 pm 
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Location: Richmond, Indiana


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PostPosted: Sun Apr 29, 2012 9:09 pm 
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Joined: Wed Mar 21, 2012 8:32 pm
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Location: Redmond, Wa
Recommend getting an LLC. That way if you are sued for any reason, they cant take anything that personally belongs to you, only the buisness (heaven forbid). An attorny can do that for you.


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PostPosted: Mon Apr 30, 2012 2:49 am 
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Location: Richmond, Indiana


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PostPosted: Mon Apr 30, 2012 2:51 pm 
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Joined: Wed Mar 28, 2012 8:40 am
Posts: 397
Location: Washougal, WA
I decided to be a sole proprietor and just get myself decent product liability insurance. If you have good insurance (that covers up to at least 1,000,000 dollars) then there doesn't seem to be much point of becoming incorporated. Unless there is some other tax advantage to being an LLC that I'm not aware of.


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PostPosted: Tue May 01, 2012 3:12 am 
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Location: Morgantown, WV


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PostPosted: Tue May 01, 2012 2:05 pm 

Joined: Wed Sep 14, 2011 11:01 am
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Location: Portland, OR, USA

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Kristen D. Vineyard
visit my blog http://washwithvegetables.blogspot.com


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PostPosted: Thu May 17, 2012 10:01 pm 

Joined: Sun May 13, 2012 6:34 pm
Posts: 86
I was planning on selling my M&P soaps this summer on this little selling/trading site we have in my town of 10k people, but I guess not now. I didn't think it would involve all of this...which is just not my thing.

I am totally surprised to see that I would have to go through all of this to sell at our little local craft fairs...hmm... Oh well.

I don't think ppl where I live are as litigious as other places in the US, but I guess it's just not worth the risk.


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PostPosted: Thu May 17, 2012 10:05 pm 
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Irena
Closed minds are like faulty parachutes; they refuse to open.


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PostPosted: Mon May 21, 2012 12:23 pm 

Joined: Mon Jan 24, 2011 9:54 pm
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PostPosted: Mon May 21, 2012 12:26 pm 

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PostPosted: Mon May 21, 2012 7:16 pm 
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Joined: Tue Apr 03, 2012 10:05 am
Posts: 211
Location: Southern California
I haven't yet started my own soaping biz but I plan to within the next year. One thing I saw being offered in the city I'm interested in moving to is a free monthly meeting for people who plan to start their own business. Maybe your city or community offers something like that?? It's worth checking in to! :)

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- Stacey -

Anyone's life truly consists of work, sunshine, exercise, soap, plenty of fresh air, and a happy contented spirit. - Lillie Langtry


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