jldorrington Posted January 5, 2007 Share Posted January 5, 2007 ok someone either needs to point me in the right direction or take a 2x4 to the back of my head cause NJ's business section SUCKS i am litterally dizzy from going around in circles all i want to know is for a general partenership what forms do i need to file and in what order do i need to file cause one thing i read says i need to get my business name first so i go to that and it says its not for sole propiertership (yeah i can't spell) or general partenerships. so i got the application for business registration but that asks for the ein/fein number so that leads me to do i file ein or fein and i have the app for ein how do i get fein and how does all of this insure our business name can't be used by anyone else.. and i don't know how many people here can help cause were doing a partenership and most people on here are by themselves (i think) ugg 2x4 anyone it could be any blunt object not really picky Quote Link to comment Share on other sites More sharing options...
Georgia Posted January 5, 2007 Share Posted January 5, 2007 I would see an attorney if you are setting up a partnership. There are a few more rules and regulations than just a sole proprietorship. Quote Link to comment Share on other sites More sharing options...
jldorrington Posted January 5, 2007 Author Share Posted January 5, 2007 thats what i was afraid of.. you could have atleast taken a blunt object to my head after telling me that...do you think an accountant would be able to help us out Quote Link to comment Share on other sites More sharing options...
Luci Posted January 5, 2007 Share Posted January 5, 2007 Can you not establish an LLC? Quote Link to comment Share on other sites More sharing options...
Georgia Posted January 5, 2007 Share Posted January 5, 2007 Sorry, that's the closest we have to a 2x4 A partnership needs a written partnership agreement spelling out a lot of conditions and what-ifs. I don't think an accountant is going to help you.Curious...why do you want to form a partnership? Especially if you really don't know what a partnership involves. You need to research sole proprietor, LLC, S Corporation and partnership (general and limited). When you understand the advantages and disadvantages of each you can make an informed decision about the direction you want to go.And then go see an attorney. Quote Link to comment Share on other sites More sharing options...
jldorrington Posted January 5, 2007 Author Share Posted January 5, 2007 i don't have the money to establish an llc. we figured on the general partenership due to costs and what have you it seemed like the llc and stuff was WWWAAAYYYY more expensive then we could handle. as far as were concerned this is just a very simple make sell kinda thing selling to friends family co workers and we want to do craft fairs. i know in order to get into craft fairs (at least reputable ones) we need to be legal. its just a matter of this ending up as simple and cost effective as possible. we obviously know were not gonna be makine $5,000 a year. at least not any time soon. so why put out $800+ for a business that may not see any actually profit for several years down the road. we want to take things slowly and see where it goes from there. maybe once we start actually making a profit we'll put the money into an LLC. but with insurance at $500+ a year. llc not the right choice for use right now Quote Link to comment Share on other sites More sharing options...
jldorrington Posted January 5, 2007 Author Share Posted January 5, 2007 ok thanx to Ms. raggedy "know it all" dani i got everything thing figured out...what would i do without you woman LMAO Quote Link to comment Share on other sites More sharing options...
Raggedy Dani Posted January 5, 2007 Share Posted January 5, 2007 :embarasse I try. Glad to help ya out there.Dani Quote Link to comment Share on other sites More sharing options...
jldorrington Posted January 5, 2007 Author Share Posted January 5, 2007 yeah yeah you just love an opportunity to stretch your wings and show everyone how smart you are lol j/k you know i appreciate everything you've helped me with so far.. even if you do tease me (shrink wrap anyone LMAO) Quote Link to comment Share on other sites More sharing options...
Raggedy Dani Posted January 5, 2007 Share Posted January 5, 2007 hey hey now lmaoi am planning a video on 'HOW TO SHRINKWRAP A TART" LOLjust wait it'll be done. Dani Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.