Q: I got my entity picked, now what do I need to do to start my business?
A: First, you may need to get a Federal Identification Number from the IRS, unless you are eligible to use your social security number. If you need one, you need to complete Form SS-4, which can be both mailed in or completed online. I would suggest the online application because you can’t skip any necessary information when you do it online. You also may need a Minnesota Identification Number, but depending on your type of business, you may not even need to get a MN ID#. For more information as to if you need a Federal or MN ID#, please contact us to go over your individual needs.
Taxes, Investments, Business and maybe a little more! Sandy Flom, CPA, CFP