This year will be different for me and my business. I am going to go into all kinds of areas and carry more variety of products. My goal is to work at more craft fairs in the area. And Im not going to allow anyone to bring me down.
In any event, the sage continues.
When going into business with someone be sure to have all your paperwork in order!
I made the mistake of trusting someone who didnt trust me. In the process of working this past year Ive done everything. I started my own business and in the process I helped someone, who is no longer my friend, grow their own business.
Remember everything is in my name, well after speaking with an accountant, he confirmed what I already knew. Because I wrote her more then $600 in checks I have to issue her a 1099 and I made the mistake of never getting a W9 filled out. This means I have to speak to her and request this information. So I did, I emailed the form and requested it be filled out and emailed to me ASAP. Image my surprise when she needed to verify what I was requesting, by talking to a lawyer!? Then asks me for a copy of expense, to make sure its all OK, then wants to give the form filled out directly to the accountant. Not only that takes forever to reply to my emails. To date Ive gotten nothing. Some think she will never provide me with the info and allowing me to take the fall with the taxes.
This year is going to be different. I wont need to deal with so called 'partners' or 'friends' that stab others in the back.
Remember to get your paperwork in order before getting into business.