In January 2015 I went from working out of my home to opening a storefront. Here are some of the things you should have in place when opening a physical computer repair shop.
Ideally you will have the first three in place before you open. The last two can be done after you make the switch.
State Tax ID Number
If you have been running you business part time you should already have this in place. If not, then you definitely need to get a tax ID number before you start your store front.
In the US, most states require you to have a tax ID in order to collect sales tax on the items you sell. This number will also be required when setting up an account with a wholesale distributor.
Taxes are an area where a lot of small business owners get in trouble. In our business, we transfer the sales tax we collect to a savings account until it’s time to turn it over to our state’s Department of Revenue.
Keep in mind, you are collecting this tax on behalf of your city/state. These funds should not be intermingled with your operating income. Don’t forget to track your use tax if your area requires it.
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