Hello and thanks for reading this post.

I trying to start up my own internet site and hopefully make it into a large one at that. I have previous webdesigning experience and know a lot of stuff already. Part of this site will be a ecommerce. So I was wondering if there are any government forms, taxes, etc I should know about for internet sites in the US.


Thanks
Jack Rabbit

Really the fact that it's an "internet business" isn't that relevant. The website isn't the business; the business operates the website.

What forms you'll need and what filings you might have to make depend on what form of business entity it will be (sole proprietorship, corporation, LLC, for example) as well as such considerations as whether you'll be doing retail product sales, whether you'll have employees, etc.), and will vary depending on your state and locality.

In short, it's not really possible to answer your question accurately without a lot more information and knowledge of local requirements. You might want to talk to a CPA who specializes in small businesses in your area. If you want to do more research on the web, find the site of the Secretary of State's office for your state. They'll usually also provide general information about local requirements and locally relevant resources.

My main piece of advise would be to talk to an accountant. I thought I could handle all the filings and taxes, but if you have that mentality you'll be in way over your head (and on poor terms with the IRS). Write up a plan detailing what your goals are, how much money you plan on making, etc. then call one up. They usually do free consulations, esp. if they think you're interested in becoming a client.

Hire a CPA worth their weight in gold :)

JDT

<deleted by stlouislouis>

for an internet based company that takes a while to get off the ground and has little overhead (eg. web design, web host resellig), at what point should someone hire a CPA? (a certain revenue or profit point, after aquiring x customers, after x years of business... etc.) I know it will vary from company to company and industry to industry, but what's an average or ballpark figure?

Well I for one have one wating in the wings right now.
she knows what i am going to file as (LLC for now)
and she also knows book keeping wich is a BIG + for me sence i dont like math to much. with me and my CPA she si going to show me a easy way to keep them and then i can do the daly/weekly stuff then i pass it off to her and she gives them a once over to make shure I did it right and then pay the taxes ect ect for me.

if it wasnt for my CPA i would go nuts in about 4 months:D

Originally posted by jamenjaw
she also knows book keeping wich is a BIG + for me sence i dont like math to much.

apparently you don't like English too much either :agree:

Originally posted by jamenjaw
and she also knows book keeping wich is a BIG +Wow, a CPA who knows both accounting and bookkeeping? Quite a find! :confused:

fuzogen, it wouldn't be a bad idea to consult with a CPA for a couple of hours before you get things started up and they start to get out of hand. Once you do that, and you know things are in order and your systems are in place and making sense, you probably won't need much at least until tax time. Depending on the complexity of the business and your own aptitude and knowledge, you might not need much help even for that. But it's helpful to have a relationship with an accountant who you can call when something comes up.