Starting a Business (part 3)

This part is called paying taxes.

In 2021, I had a few friends start a business and recently reached out to me to let me know they had no idea how sticking hard this was going to be. Hang in there friends!

I actually registered a brand new “business” in 2021 as well just to go through the process from the beginning again so I could remember and help friends along the way. Even though I did absolutely nothing with it. Made no money (and thankfully spent no money), I received the notice to file my GET taxes and then the year-end reconciliation.

Thankfully, now-a-days, you can do everything online. I already remember a time when it wasn’t nearly this convenient or easy.

I followed the state department of taxation and created a log in for my business with my GET #. Logged in and had my memos of the GET tax filing and annual filing/reconciliation.

Finished it in seconds because across the board, it was $0.

Which reminds me to mention here now, if you are starting a business, keep very good records on everything! Easier to start clean then trying to catch up. Trust me on that one. If I started all over again, that’s one thing I now know I would have done a better job at. :)

Good luck friends. I’ll try to keep dropping tips or encouragement here and there! Rooting for ya!