Traverse City, MI -- (SBWIRE) -- 10/06/2015 -- Tax specialist and author Frank Ellis has published a new article on the Internet Tax Connection website, which explains various tips for those who start a new side business. It is intended for people who still have a full time job. They can, however, benefit from the advantages of a side business and income.
Included are tips on creating a business entity. Entrepreneurs starting as sole proprietors often move on to create one of various types, including an LLC. According to the author, this lets one separate their business and personal finances and how this is beneficial during tax season. Also, personal assets are kept separate from company debts.
Ellis also explains the importance of having a website. A college degree and the appropriate skills and resume are essential, especially in an economy with tough job security. Ellis reveals how a side business website helps with backup income. That's particularly true with those selling specialized clothing or supplies online. http://recreationandsportsworld.com/personalized-jersey
While it can take time to build a full time income, the author says, the revenue can help even if one loses their job. These profits can even serve as an emergency income.
The article also stresses the idea of using TurboTax. This tool helps identify the right tax forms to fill out, and there's also a link to a discount code for the product. http://bestirstaxrefund.com/turbo-tax-discount-coupon-code
Filing taxes can be done at home and it maximizes the chances of getting a refund and receiving it faster.
For detailed tips for new side business owners, read the article on the Internet Tax Connection website at http://internettaxconnection.com/tips-for-new-side-business-owners/
About Frank Ellis
Frank Ellis is a Traverse City Tax Preparation Planner and published author. He has written tax and finance related articles for eight years and has published over 900 articles on leading financial websites.
Internet Tax Connection
945 East 8th Street Suite A, Traverse City, Michigan 49686