DIGITAL STARTUP SOCIETY BLOG — Going Legit in Your Online Business

Hiring experts and professionals for your online business isn’t much different from how you’d hire any professional. You get recommendations from people you know, from other experts, and from other professionals. But, after that, you need to do a little extra research to ensure their ability to serve your needs in the way that you want them to. Ask a Mentor or Fellow Online Business Owner The first people you should go to are other people who do business online, especially if they are in your own state. They are most familiar with the needs of online business, and more...

  One thing that separates a successful entrepreneur from one that isn’t successful is the willingness to keep learning. Becoming a lifelong learner separates you from the pack and will enable you to keep your business alive and thriving, even when things change. Take a look at these three fantastic business books that will help you take your business to the next level.  Starting an Online Business for Dummies by Shannon Belew. (https://amzn.to/2QxKMpJ)  This is a great book that goes over all the steps you need to start a legitimate business online. Even if you have been earning money already,...

  If you live in the USA, one thing to think about before you quit your day job is health insurance. Most people get their health insurance through employers, but you can also get health insurance through the health care exchange. What you qualify for will depend on your budget and what’s available in your state.  Right now, to qualify for the ACA under the affordable care act, you need to earn at least 15,600 a year - unless you live in a state that expanded Medicaid under the law. Otherwise, you will not qualify for a subsidy, and you...

Many small business owners launch their business as a side gig or a hobby, not really expecting it to start generating a full-time income. Others start that way because they have responsibilities, but they really want to get out of the job grind, so they start part-time knowing that if the effort proves to be profitable, they will eventually transition to a legitimate incorporated business.  There are many advantages of incorporating your business, such as: You Can Protect Your Personal Assets When you form an LLC or any type of Corporation, it automatically separates your business funds from your personal...

For some people, when it comes to hiring someone to help with business finances, a bookkeeper will be enough, but for others, they may need a CPA - or certified public accountant. And, it might even be cheaper to hire both. It really depends on what type of business you have.  A CPA can legally represent you in tax court and can fill out and file your taxes for you after your signature. A bookkeeper can set up the accounts and do all day-to-day, monthly, quarterly, and yearly entries and do closing entries on the software. Then, they will give...