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I'm 5 months in and I want to make sure I'm doing this correctly I'm located in New York state. Is this something I should have done already or should I wait till I start actua
If you want to, however it is feasible here to check your status with an accountant and what allowances you are entitled to in your region.
When you reach the threshold you may think about.
Yea I have to file my income taxes at the end of next month. When I call To Make an appointment for that will talk to them about it
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When is the right time to file dba or llc ?
I'm 5 months in and I want to make sure I'm doing this correctly I'm located in New York state. Is this something I should have done already or should I wait till I start actua
My suggestion - wait.
Once the money starts coming in - then let that small amount sit in your personal income and tell your accountant to offset your expenses (WA membership etc) against that income.
Then when you are sure of regular income - you setup company and start paying for domain renewal and WA membership, Autoresponder etc with company card .... and also offset your expenses against income in your new company.
If you want to, however it is feasible here to check your status with an accountant and what allowances you are entitled to in your region.
When you reach the threshold you may think about.
Yea I have to file my income taxes at the end of next month. When I call To Make an appointment for that will talk to them about it
See more comments
So today I reached out to one of the companies I was trying to become an affiliate with and they came at me with another more profitable option as a wholesale. My question and
You also need to be cautious when you sign up with merchants as not for them to use your customers for their marketing campaigns. You need to include a clause in your contract not for them to retain your customers. You want to ask them to deliver packages without their corporate identity on the packages.
I would be very wary and do my due diligence.
You need to pay upfront for them to drop ship. Some may require prior banking | credit card approval before business is conducted.
You may use PayPal and Stripe gateways to process transactions, however if you are expecting large cash intake, I would sign up to the latter as PayPal would freeze newly opened accounts.
Profit margins won't be as high because you are not making the goods, it requires dropshipping. Therefore, there's an extra cost associated.
And you still have to deal with customer services and respond to their inquiries, providing succinct transparency throughout.
And the most essential of all businesses is marketing, you still have to find a way to market your dropshipping business. One way is via Facebook Ads, however that can be costly if you do not know what you are doing.
The other way is to incorporate a blog and have it SEO optimized, whereby you regularly update it with relevant content pertaining to your niche, to drive organic traffic to your dropshipping store.
The latter is no different to affiliate marketing, except then you would be diverting traffic to merchants' stores pending your visitor making an informed decision go ahead click your links go purchase the item/s you proposed to solve their issue.
However, you don't have to deal with your visitor as then this is the merchant's responsibility, or drop shipping goods, lateness etc.
I hope this helps.
Hey John,
You might be able to try a site like Shopify, where you can post products but have the wholesale company drop ships the items purchased on your site. You can see if the wholesaler has an agreement with that site. I used to sell t-shirts on Shopify that were from wholesalers, they printed my own designs on them and shipped them for me with my own brand. Hope this helps.
See more comments
How to make a wholesale website?
So today I reached out to one of the companies I was trying to become an affiliate with and they came at me with another more profitable option as a wholesale. My question and
You also need to be cautious when you sign up with merchants as not for them to use your customers for their marketing campaigns. You need to include a clause in your contract not for them to retain your customers. You want to ask them to deliver packages without their corporate identity on the packages.
I would be very wary and do my due diligence.
You need to pay upfront for them to drop ship. Some may require prior banking | credit card approval before business is conducted.
You may use PayPal and Stripe gateways to process transactions, however if you are expecting large cash intake, I would sign up to the latter as PayPal would freeze newly opened accounts.
Profit margins won't be as high because you are not making the goods, it requires dropshipping. Therefore, there's an extra cost associated.
And you still have to deal with customer services and respond to their inquiries, providing succinct transparency throughout.
And the most essential of all businesses is marketing, you still have to find a way to market your dropshipping business. One way is via Facebook Ads, however that can be costly if you do not know what you are doing.
The other way is to incorporate a blog and have it SEO optimized, whereby you regularly update it with relevant content pertaining to your niche, to drive organic traffic to your dropshipping store.
The latter is no different to affiliate marketing, except then you would be diverting traffic to merchants' stores pending your visitor making an informed decision go ahead click your links go purchase the item/s you proposed to solve their issue.
However, you don't have to deal with your visitor as then this is the merchant's responsibility, or drop shipping goods, lateness etc.
I hope this helps.
Hey John,
You might be able to try a site like Shopify, where you can post products but have the wholesale company drop ships the items purchased on your site. You can see if the wholesaler has an agreement with that site. I used to sell t-shirts on Shopify that were from wholesalers, they printed my own designs on them and shipped them for me with my own brand. Hope this helps.
See more comments
My suggestion - wait.
Once the money starts coming in - then let that small amount sit in your personal income and tell your accountant to offset your expenses (WA membership etc) against that income.
Then when you are sure of regular income - you setup company and start paying for domain renewal and WA membership, Autoresponder etc with company card .... and also offset your expenses against income in your new company.
Thank you