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Tips for starting your own business!

Tuesday, March 02

Here's some advice when you start your own company.

I went to the bank and turned my checking account into a business account. I have owned businesses before in another state so I thought it was going to be a simple DBA account with simple paper work. Not in the state of Massachusetts. It seems that in the state of MA one must be registered with the city to have a business checking account.

So I hurried to city hall and I had to fill out a simple document and pay $40.00. The good thing is that it the clerk did it right there on the spot and this document is valid for 4 years as long as the address is valid.

I had to divulge where my source of income was going to come from. Give an approximate income for the 1st year of business. This and more information was collected from me to make sure I was not collecting money for terrorist activities or the mob.

Please do your homework before leaving the house. In class the instructors stress proper legal counsel, incorporation to protect your “ASSets” and tax advice from a license professional. Take it from someone that has encountered legal issues in the past. The hundreds of dollars that you are spending now may be the ones that saves you thousands or even millions in the future.

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  1. Colleague_thumb_avatar-shell

    Rochelle Poke Reply
    about 2 years ago

    Hi Mariah I just want to ask you a ? I a newbie and so far I haven't done a deal I just went the other day and got my LLC and my EIN#.I live here in St. Louis Mo and I was going tomorrow and set up my business account at the bank is there anything that i need to take with me before i go.Also if there any advice that you can give me starting out in investing I will welcome.I have been trying to find my way since 2008 when i lost my job.I joined a REI club but now i need motivated seller and cash buyers any suggestions

  2. Colleague_thumb_avatar-tod

    Tod R. Reply
    about 2 years ago

    In Tx you all you need is proof of EIN#, Operating, or Partnership agreement (proof you have authority to act on behalf of the entitiy), and your DL to open a business account. Sounds like MA might be slightly overreaching...

  3. Colleague_thumb_avatar-investordiva

    Mariah I. Reply
    about 2 years ago

    You know what they call Massachusetts :Taxachussetts.

    In this state the government is not missing a beat. I moved to Boston from Florida a couple years ago and when I received my first paycheck i thought there was a gross mistake made by HR.

    I have since taken some asset protection courses to help me manage the money and asset that I have at the lowest income tax rate legally allowed.

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Mariah I.


Real Estate Investor
Reading, Massachusetts


Website: http://RCIGroupLLC.com
Phone: 3472639563

My Status

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