Teach Soap

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.

Yes, that's what you need to do.

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

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!

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.

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

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

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