CandleCrazyGal Posted December 10, 2011 Share Posted December 10, 2011 I have a few questions that I am hoping you all may be able to help with. While I am new to making products, I know that I want to turn this into a business (both candle & B/B).I have decided to go the LLC route and register with my state (WV) but do I need to apply for an EIN for federal taxes and such?Also, what do I do with the receipts for the money I have put out thus far in beginning to purchase the things I need -- ex: FO's, Wax, Presto Pots, Double Burner hot plate, etc, etc. Will I be able to use any of it as a business expense? Or do I have to have the business name filed etc, before the end of 2011 in order to do that?Also, where have people been successful in finding business and liability insurance? Just with your regular homeowner's insurance company? Or do you have to find someone who specializes in the industry. TIA for any help! santa big Quote Link to comment Share on other sites More sharing options...
robertgibbens Posted December 10, 2011 Share Posted December 10, 2011 Yes you will need an EIN.Yes you can write off purchases made prior to incorporation. I would suggest using an accountant as business taxes are far more complex.I would suggest looking in the phone book for an insurance agent. Homeowners will not cover it. Quote Link to comment Share on other sites More sharing options...
CandleCrazyGal Posted December 11, 2011 Author Share Posted December 11, 2011 Thanks, Robert! Quote Link to comment Share on other sites More sharing options...
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