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Started local review site...
EnigmaPrime
subscriber Posts: 1
Hi I just started a site as a hobby in San Francisco.
This is for fun now but hopefully in a year or two I will get some revenue from it once I have invested enough time & money.
I
purchased the script license and domain name, created the logo &
all graphics myself & spend approximately about two to three hours a
week working on reviews & adding new businesses etc.
I don't get paid & this is all in my free time.
I have about 30 members with in two weeks, yes I know low but steadily growing.
I use Facebook, Twitter, Foursquare & various other social networks to advertise the sites existence. I am planning to print business cards, flyers, stickers & T-Shirts sometime in the future, but that is a ways off.
I do all this from home office I set up or from my tablet in the venue I am reviewing, baring in mind I've kept very local for now.
This is my first business so please bare with me if these questions seem noobish ...
MY QUESTIONS!
1. Should I set this up as a proper registered business now rather than later (Currently a hobby) since I have spent time & money, in order to claim or pay taxes on same.
2. If I do set it up as a proper registered business can I claim as a right off the following, dining costs of venues I have eaten at and subsequently reviewed, my home office, basically I'd like to know what I can right off etc. (obviously a business bank account with a Credit card would be required for this).
3. Any advise from you fine folks would be very greatfully received.
www.tenderknob.com
Thanks in advance
This is for fun now but hopefully in a year or two I will get some revenue from it once I have invested enough time & money.
I
purchased the script license and domain name, created the logo &
all graphics myself & spend approximately about two to three hours a
week working on reviews & adding new businesses etc.
I don't get paid & this is all in my free time.
I have about 30 members with in two weeks, yes I know low but steadily growing.
I use Facebook, Twitter, Foursquare & various other social networks to advertise the sites existence. I am planning to print business cards, flyers, stickers & T-Shirts sometime in the future, but that is a ways off.
I do all this from home office I set up or from my tablet in the venue I am reviewing, baring in mind I've kept very local for now.
This is my first business so please bare with me if these questions seem noobish ...
MY QUESTIONS!
1. Should I set this up as a proper registered business now rather than later (Currently a hobby) since I have spent time & money, in order to claim or pay taxes on same.
2. If I do set it up as a proper registered business can I claim as a right off the following, dining costs of venues I have eaten at and subsequently reviewed, my home office, basically I'd like to know what I can right off etc. (obviously a business bank account with a Credit card would be required for this).
3. Any advise from you fine folks would be very greatfully received.
www.tenderknob.com
Thanks in advance
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