THE LEGALITIES OF BUSINESS AND ONE AMAZING LADY!

If you read my blog daily for furniture makeovers and home decor.....fair warning this may bore you. But I promised weeks ago that I would share what I have learned as I completed each step. I know there are some of you out there who are wanting to start a business but are not quite sure where to start. So ladies....this is for you.

Weeks ago I shared with you that I had to take the necessary steps to get "legal." My business has grown from hobby to business really fast, requiring me to have to answer to Uncle Sam. I went ahead and took the plunge to form an LLC. I got my official paper work in the mail a few weeks ago. I decided to go ahead with the LLC because it separates my personal and family assets from business assets. For instance, if someone sued me, (praising Jesus in advance that will never happen HA!) the only assets that would be available to be used would be those of my business. This protects my home, my car, any retirment we may have and all other personal assets.
I went through Legal Zoom and they were so easy to work with, very helpful and efficient. 



The biggest piece of advice I can give you is to select the economy package. It says it's only 99.00 but don't be fooled by that. After all of the fees that your state requires, it ends up being more than that. Mine was 221.00. Also, they will want to charge you to get your Employee Identification Number for you. Don't allow them to file this. You can opt out.
Your EIN is what identifies you as a tax payer with the IRS. You have to have it with any business even if you don't have employees. This is a VERY simple process online via the IRS website.  It takes literally a few minutes and they give it to you right then to save and print yourself... AND it's free. Don't pay someone else to do it for you!

After getting an EIN number, you can then apply for a resale certificate with your state. I found my application on the Alabama Government website. You can find that form here.  If you are in another state, check your state's website for the form. This certificate will allow you to buy wholesale without having to pay tax. Wholesalers such as those you will find at Market, require you to submit this form in order to buy from them. This one has to be printed and mailed in for Alabama.

An LLC also requires you to open up a business checking account. You will need your EIN paperwork to prove that you are related to the business. I submitted mine online at my bank and it was really easy and headache free. It is vitally important that you keep all of you personal and business money separately. Just give yourself a pay check every month if you need money for things other than what is business related. You will want to make sure you keep all of your receipts!

This week I will also be working on finding cheap insurance for my business to avoid loss of property and for liability. The contract that I have with Consigning Interiors states that I will not be covered in the event of stolen property, damage or loss in case of natural disaster. I showed you yesterday what happened to Urban Green where I had just moved out. An F2 tornado destroyed it. If I had still been there and it was full of furniture, I would have just lost it all. Praise the Lord Shannon and the girls were not harmed, it was very early in the morning. 
Urban Green will be relocating so when I find out where that will be I will let you know.  So is your brain fried yet? I know this was information overload so I will stop here and continue on another day. If you have any questions just email me.

I also have got to give a shout out to my friend and sponsor Monique at the Polka Dot Pantry.



Monique has been working so hard to gather coupon inserts from Sunday papers to help the tornado victims. There is such a need for toiletries, diapers, wipes, sunscreen and much more. Monique gathered 800 inserts this past week. She contacted Target to let them know that she had 800 coupons for Right Guard Body Wash and wanted to see if they had that many in there warehouse. They said they did and agreed to have them delivered to her store. She was able to score all 800 for FREE. That's right people..... FREE.  How incredible is that! If you are in the Birmingham area and have coupon inserts that you would like to donate, you can drop them off at Church of the Highlands on Grants Mill Road. If you want to mail them, contact me via email and I will give you an address. This is a free and easy way to help people who have lost everything. Monique is working on a lot more items this week! Way to go girl! This is an amazing example of how God can use the gifts he has given you for His good and glory. Nothing will make you happier than finding your calling and using it to serve in some way! I am so proud of her!!

Thank you all again for your prayers and concern. I will be placing a side bar graphic with a link to the Church of the Highlands / Birmingham Dream Center, a fantastic place to give your money where 100% will be used to help the people of my state. They are working with 25 area churches along with the Christian Service Mission to distribute goods and services to the effected areas.