Business Starting Grants

How does a new business sole proprietor dba accept checks?

Starting a new business and want to accept checks in the fictitious business name. Deposit checks and pay another vendor by credit card. Where do you start?

Public Comments

1. Start at a bank.
2. Well you have a name, now just Start a Company: USPTO.gov and search to make sure you should. Form a Company; LLC (Limited Liability Corporation) or Corporation is best in most states, it protects your assets from bankruptcy of the company, and legal lawsuits. There are some more accounting, filings, and paperwork that go with it. Go to your secretary of state online by searching "secretary of state" and "Colorado" or "California" or "your state". ($50-500 depending on state) Next an EIN or Employer Identification Number. This is the social security number if you will for your business. It is separate from the filing status of the corporation above. You are filing as a corp, regardless of whether or not you are an LLC. IF you can file for "S" Corp status, aka small business status, DO IT. To do this go to the IRS website and fill out the forms. If you go down to their office they are happy to help you. (<$100) Now go to your local bank, EIN in hand, and open a FREE checking account.($5 to deposit) Now open a phone account, unlimited minutes, with your checking account (need EIN, Secy of State Docs, and Passport)($25 cheap phone, $25-$99/mo). Now open a gmail email account with the phone. ($0) Now open an efax account with the gmail account. ($0) Next go home, and open a paypal account with email, phone, fax, and checking account. Finally, buy or get some free business cards. http://www.pokerbusinesschip.com/ 250 free ones to start (with advertisements on back). http://www.vistaprint.com/vp/pSearch/topDeals.aspx?GP=7%2f31%2f2009+7%3a45%3a50+AM&mk=Free+Business+Cards&ad=exact And you have a business, that takes checks, takes credit cards, can receive phone calls, faxes, and employ people. Don't forget to go back to USPTO.gov and trademark that name when you have the funds ($325).