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Starting Your Own Business

Suppose you can troubleshoot any computer problem that comes your way. Even your friends and family call you to fix their computers when something goes wrong. Word gets around and soon their friends start calling you, and they’re willing to pay for your help. You figure a few evenings a week and you could make a good profit. You’re in business.

A business is a continuous, regular activity that has income or profit as its primary purpose. And starting a business is more than just doing the work and collecting the cash. You have certain tax responsibilities depending on whether you work solo, or have a few others helping out. If you’re working solo, then you’re self-employed.

Page Last Reviewed or Updated: 29-Jun-2016