Question

I am dependent FL college student and I want to start an online business as a self proprietor...HELP

Forum|Forum|5 years ago
August 1, 2020
1 reply
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This school year, I wanted to start reselling fashion jewelry and accessories online for extra pocket money.

I live in the state of Florida. From my research, I believe that I will have to pay self-employment, income, and sales tax.

Do I need to register my business if I choose to be a self proprietor? I plan to use a fictitious name too. And are there any other taxes I am missing?

Not A Product Question

X

xmasbaby0

Employee

You will have to pay federal self-employment tax as well as ordinary income tax if you have a sole proprietor business. As for your questions regarding licenses and sales tax etc we cannot answer those here. Those are questions for the state of Florida.

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c

https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs

https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

https://ttlc.intuit.com/questions/2903027-how-do-i-report-income-from-self-employment

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**