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The Magic Cafe Forum Index » » Tricky business » » Making it Legal (0 Likes) Printer Friendly Version

j100taylor
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For those of you who work closeup at restaurants, bars, hospitality suites etc. how are you organized legally? e.g. sole proprietor, LLC etc. Do you have insurance (see http://www.themagiccafe.com/forums/viewt......rum=5&47 for why I ask). I want to start working and write off what I spent on magic this year...
Lakewood, Ohio
Close.Up.Dave
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Most states have seminars that you can attend to learn how to go about setting up your business. You could probably find more information on http://www.sba.gov

I attended a local seminar (it was like an hour or two), and got all of the information I needed.
Jim Snack
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When starting out, it makes sense to organize your business as a sole proprietor. It is simple. Keep track of your expenses and income in an accounting program, so you will have your records when filing taxes. Then you file a schedule C with your federal return.

I suggest you talk to an accountant and read some basic tax books for small businesses. By all means, attend any small business start up seminars your can find in your area.

For liability insurance, check out http://www.specialtyinsuranceagency.com/

Best wishes.

Jim
Jim Snack

"Helping Magicians Succeed with Downloadable Resources"
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Ed_Millis
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Yuma, AZ
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I looked into Specialty and others. There was someone else (H&K maybe??) that was essentially the same coverage, but ran for a full year based on when you enrolled (vice April to April, regardless of when you enrolled). Having to cough up near a full year's fee for just a few months turned me off their business model. I'm sure they're good, but I either have to have a double fee laying around handy, or wait until April 26 to open for business.

Ed
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