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Paperwork Question

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JumpinKaren

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I am thinking about contacting a few out of state businesses (I already know the owners) and attempting to sell them my soap, for use in their gift shop. My intention would be to recoup some costs of the soap, but nothing beyond that. In a perfect world, I would like to be obligated to make one or two batches a week (I'm in grad school!).

To do this, what is the minimum amount of paperwork that I need to complete for legal purposes?

If anyone has any good web resources to direct me towards, that would be great!

-Karen
 

digit

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Wish I could help, but I can not. Maybe one the experienced soapers will be by soon to answer.

Digit
 

Tabitha

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The only think I kept track of my first couple years was a total dollar amount on sales, so I could pay my state sales tax on it. You should also report it as income on your personal income taxes.
 

beachgurl

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That's a tough one Karen; there are two routes you can go ... sole proprietorship or LLC. A sole proprietorship is simple and you would just include that on your personal income taxes; however, in exchange for that simplicity, you're fully liable .. they can take everything if you get said .. anything that you own. An LLC entails a bit more paperwork, but affords you greater protection against litigation. I personally suggest an LLC; today's society is litigation happy.
 

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