Steps to Starting Your Own Business

Selecting a Tax Year

You will need to decide on the twelve-month period you will use for your fiscal (financial) year. Most sole proprietorships and businesses should use a calendar year as a fiscal year, so that the business and personal tax filings coincide. Corporations may use a tax year that fits best with their business cycle. Choose a tax year end that is a slow time.

Index: Steps to Starting Your Own Business

1. Select and Register Your Business Name
2. Select Your Business Organization Form
3. Select Your Business Location
4. Apply for an Employer ID Number
5. File a "Fictitious Name" or DBA Statement for a Sole Proprietorship
6. Select Your Tax Year and Accounting Method
7. Create a Startup Budget
8. Estimate Sales and Expenses
9. Create a Marketing Plan
10. Create a Business Plan for Your New Business