Sign Alaska Banking Emergency Contact Form Easy

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welcome to fitting model 101 i'm julie your host and in today's series i'm going to teach you how to set yourself up as a sole proprietor today's series is completely boring as it's all done on the computer i'm going to instruct you how to apply for an ein number possibly get you a fictitious business name and also set up quickbooks so you can do your bookkeeping and accounting super easy so i'll see you there [Music] when you start off as a fitting model you can work through the agency and receive a few checks but if you make this a career you want to apply for an ein an employer identification number through the irs here you can see the phone number for the irs 800-829-4933 you can do this by calling them or you can also do it easily going online and filling out form ss-4 so here i am at the irs website and to find this page you can just write in your browser irs employer identification number and it will take you to this page this says determine your eligibility which anybody can apply for an ein having an ein is great you don't need it if you're a sole proprietorship you can just use your social security number but when you have an iein it establishes you as a small business and it also uh protects your social security number and it can also protect you in case of lawsuits or anything down the road if you want to expand your fit model business to maybe selling clothes or retail or wholesale then it's nice to have the ein because it can support other things that you want to do in your business so here you go you can go to this page and you just scroll down to apply online yep we know this to apply for an ein it's very easy easy you just go to the begin application page click sole proprietor continue sole proprietor continue continue start a new business continue and here's where you fill in your information and hit continue i'm gonna stop here because um the irs is not letting me move forward um probably because i have too many businesses uh but the next stage is you do your you authenticate who you are you put in your address then your details of your business here is where you're going to put the name of your business if it's just your name you put your name you'll put the address of your business if it's your home address then use that and it'll ask you what type of business this is you fill this in as you're a service business i think there's a section there for modeling so you just enter that code and it's a drop down window it's very easy and then it will finish with the ein confirmation the next stage that you want to do if you do apply for an ein and you have a name for your company then you want to go to your fictitious business name area which is usually in your l.a county dot gov that's what we are so whatever county you're in try that and it will be a gov so right here fictitious name if you have a fake name for your business you do a fictitious business name search so you can search your name say you want your business to be a perfect fit right let's so let's try this perfect if i can write perfect fit so let's see if that name is available for security purpose oh i have to enter this number eight nine four three let's search so the perfect fit has been used and filed so you cannot apparently there's several names using the perfect fit um depending on what kind of type of companies these are they may just be fit modeling these are all filed so usually you cannot do the same use the same name but i've seen this one's here three times it could be the same person filing the name each time or it could be uh and in individuals with different types of business usually if it's the same kind of business and they overlap you can't file the name so then you'd go back start a new search and you can say maybe you're the fitting model 101 let's see if that works i have to remember to put this code in i keep forgetting it let's start search name not found so we're gonna apply for a fictitious business name in the old days you'd have to go and stand in line for up to an hour to do this which is kind of a pain in the butt um so we're gonna do a mail-in fictitious name original we're gonna say fitting model 101 search it is not in use so we're going to start and we're going to add it this is the name of your business if you decide to create a business name as a fit model fitting model 101. go to next my business address is 346. you put your business city zip and here i would put my articles of incorporation number and then move down the page go to next uh name corporation name is 3 12 corporation street address is 346. so you enter in all this information the zip code state of corporation is california let's say next full name that would be corporation name i am this president or ceo or owner whatever you want to put so but basically i'm doing what you would do after you get your ein number but right now i'm doing it and adding a few more things because i am a corporation if it has your company name you would put your name here your last name and then if you decided to name your modeling business something you would put that here you would use your home address and then you enter your email here so i have an email from my business my business is done as a corporation yours would be done as an individual so you make sure you put individual when you're entering yours mine is a corporation so i'm going to put corporation date registrant commences to transact business under the fictitious business name or names listed above well i've already been doing this so we'll use today's date since you can't go back and change that so we'll use today's date it's 20 20. and if you wish to purchase additional copies of this filing enter how many here i don't need to purchase any additional there's you can have it on file but honestly they never ask it's not necessary so let's see it says zero this date is an accurate oh because it just needs the month so 09 okay so click next now it's so cool that they do this online because you used to have to do this in person and it was a pain in the butt so there's my information julie buyer 312 corporation um it is the name i'm wanting is fitting model 101 that's the fictitious name under my corporation the registered owner is 312 corporation uh your name would be here as the registered owner that would be whatever your name is so if i wasn't a corporation it would be julie buyer with my address you go further down business is conducted it already filled it in mine is corporation you will make sure this one is filled in and it will have the date this is the registers corporation name 312 corporation so then i would put my signature here and i have verified the information is true right i am not a robot and then you submit the order this is fairly easy it's free to apply for an ein number so that one you don't ever have to worry about paying usually if you create a fictitious name um then you have to pay i think it's it used to be 25 um and after you have a fictitious name then you also need to get it in print um in a newspaper within 30 days so let's see here's my document everything looks correct let me scroll down affidavit signature so the one thing that you have to do if you uh do this through mail is you have to take it now to a notary so that they can notarize it to make sure that you are you so here's your form so that's what you do if you want to create a fictitious name it's very easy um so i'm going to click print and send this to actually i'll send it to the one in the garage because the ink is low how's this one this one's ready i'll send it to that one in my room so this now will print and then what i have to do is i have to mail it to this address after i get it notarized so remember you have to get this notarized and then mail it in along with the payment the original is 28 okay so no big deal 28 i'll send and then i will get this taken care of the other thing that you'll need to do is [Music] when you're done applying for your fictitious name statement you have to do proof of publication so when you get that you get it in the mail you get it returned back to you you have to do this state law requires that within within 30 days of filing the registrant must publish a statement in the newspaper of general circulation in the county in which the principal place of business is located once a week for four successive weeks okay so you have to do a monthly subscription into a newspaper there's a lot of newspapers that will are publications that will hit you up after you apply for um for your fictitious business name just because that's their main way of making money uh there's one in my area that's all they do is they just print businesses so here is you would search for the business name the owner and the filing number so later on i will show you this area which is the secretary of state and this is how you apply for a corporation you go to your secretary of state sos.ca.gov and yours will be whatever your state is it's usually sos.az.gov or tx.gov but it's secretary of state that's where you always apply for your business corporation when you're running your business you're going to have to do all of your own accounting unless you do really well and you hire your own accountant but in the beginning you want to do your own accounting i suggest that you get quickbooks desk desktop pro or even the lesser version just the desktop basics um because i have to get the pro because i'm a corporation and um you i needed the upgrade so i already have a couple companies here so when you get the quickbooks pro and you install it into your computer you'll need to create a new company let's set up your business so it's easy start set up everything is very self-explanatory so we're not going to use this email so let's get rid of it this was the last company i set up which is my husband's he has a great company on etsy so if you need any holiday gifts go to engravings etc just like that engravings etc go to engravings etc um on etsy because he sells wonderful engraved items for the holidays so we're gonna back this up um let's see okay so here we are setting up in quickbooks desktop this is a new company so it says business name now if you did get an ein and you want a fictitious name with your business then you created the fictitious name and say you got the name um let's say the perfect fit perfect fit that is your business name as a fitting model you are in the industry of um modeling let's see if that what they have here our service okay so let's help me choose an industry we're going to say so we're picking the industry we're going to say general service based business okay business type this is remember you are a sole proprietorship i am an s corporation so again we're going to do sole proprietorship here's where you put your ein number let's make something up so then you put in your dress in your city state phone number create company creating new company file now quickbooks is fairly easy to use there's lots of tutorials on youtube with what you're doing and how to use it for instance this page here do you need to get paid faster credit cards or do you need payroll no you probably don't save time printing checks not really so we're just gonna close this screen i'm gonna go back to company i'm gonna look at my company make sure everything's right so here you go now if your information is not all here like your fax email this little symbol here just means edit so it opens everything up you can put your email your website and then here you have your legal information your company identification report information so your fiscal year will be january to january like most tax years you're using the form 1040 it already set it up because when you set up this company you said you were a pro sole proprietorship which is formed 1040 at the end of the year which is your normal tax form payroll tax form information you don't need to worry about this because you don't even have it so back to contact information and we're going to close out this window so we're going to go back to company and as you can see you have a calendar section you can use you have a to-do list you can do reminders you can set up i always use my reminders for tax season taxes are quarterly and with the corporation i always have to stay up to date with my quarterly taxes there's always a lot to send out when when you are a corporation but as a sole proprietorship you probably don't have too many unless you want to pay your individual tax quarterly which you can do this is your chart of accounts which is very important your chart of accounts is what you use for bookkeeping so in here they already have some set up they have the accumulated depreciation furniture expense payroll liabilities which you do not need so there's several in here owner straws you all you always will use owner's equity you'd use sales you really don't have sales that's called your income account your income would be service or modeling you keep your automobile expense advertising and promotion that will be your photographs a website anything that you pay for to promote yourself as a fitting model if you still do newspaper entries or if you use social media or any any kind of source you can usually take that as a deduction um i use for instance paying for internet as a deduction because that's part of my advertising and promotion i need that to promote myself as a fitting model uh here there's many more meals and expenses use that all the time because you're always out and about and and and if you have a so this is how you can have more write-offs as a fitting model you have a home office where you also do something related to your business so if i sell clothing at home wholesale or retail that is in home office and if i have customers that need me outside of the home well then that's my drive time and any meal expense i'm outside of the home going to these places that's also an expense i can take um you want to create an account so here you go down below we're going to create a new account so here you can see this is an income account product sales services discounts to customers can be a service or an income because you deduct that from your income and also modeling would be an income account it's a service income expenses are all these ones plus you can create your own if you have a fixed asset that would be building lands machinery equipment and vehicles so if you need to buy a toyota prius because you have to get yourself from point a to point b um then you can actually use your prius as a write-off in your business because what you're going to do is you're going to set up a home office so you have work at home and you have work away so you can and and you use your prius as your main vehicle for your business um so that's there's a lot of ways to learn how to do write-offs for your company you just have to know um how to do that and there's lots of articles on the internet on what you can write off and what you can't write off i find there's lots of loopholes and there's many things you can write off so there's the banking you put here and then you have your loans so when you do buy your toyota prius you'll create another account for loan if you need to use your credit cards and you want to manage your credit card on quickbooks you can do that so let's go back to the expense account and i'm going to create there's one i do for modeling and i call it modeling maintenance so we're going to say save and close you don't even have to put a description but see now you just created modeling maintenance and in your modeling maintenance you're going to put your nails uh your nail expense your hair dressing expense if you have to buy undergarments as fit models you put all of that in there if you have to buy certain shoes for fit modeling you put that expense in there when you buy a modeling bag you put that expense in there if you have to do any kind of modeling maintenance to sustain your business you put it in there it is and it is a expense and it is also a write-off at the end of the year i have a lot of modeling maintenance that i need to do if i didn't do those things it it would hinder my ability to work as a fitting model so they're necessities and when you have a necessity that keeps your job going it is also an expense now plastic surgery and those kind of things are not um expenses that you can write off unless it applies to you keeping your job so if you have to get liposuction because maybe your hips got too big well you can write that off because that type of surgery has now helped you to keep your profession so here you would also use office supplies this would be paper for your printer ink for your printer pens your invoice book anything that's office supplies related that you need for your business that you create a there's a surplus of you would create that here um up above you have furniture and equipment if you need to buy a laptop to manage your business or you need to buy a new cell phone to manage your business you would put that in furniture and equipment telephone expenses you definitely need your cell phone to manage your business so you can write that off here it would be a utility expense at the end of the year and again travel expense anything if you have to go to china or you have to go to las vegas or new york for business or los angeles then you write off all of your travel expenses most people don't know that meals and entertainment if they are part of a travel expense for business you can write your meal linux and entertainment off 100 under traveling if it is if you're required to go somewhere and work for somebody doing these things a lot of people don't know that and they take these uh the expenses here and they play them here so there's anyways there's a lot of areas where you can take your expenses the other thing you need to do is you go to banking and you go to bank feeds manager this is the one thing i really like about quickbooks is you set up your bank feeds for an account so and then you do a web import web connect file and we want to do qbo quickbooks webconnect file and we're going to do all transactions because it automatically downloads up to where you um downloaded last time so you can always say all transactions so i'm going to download these well there it is okay let's go back to banking i'm going to import webconnect file now there's been some new stuff going on with uh internet security so i'm just going to go to my latest download which is this chase one here and it's a webconnect file the qbo like i had downloaded if you're new you can always write down all of your expenses and you can give it to an accountant now if you'd like to become a corporation you will go here to your sos.ca.gov or whatever state you're in this will change it'll be tx.gov or ny.gov you'll go to your home business programs and then to business entities and then on to forms samples and fees you don't have to pay a lawyer to become a corporation you just have to know how to do it you just have to fill the paperwork out yourself and mail it in it's it's very easy um so you're going to do this one articles of incorporation general stock form a-r-t-s-g-s online you can do it and it's a hundred dollars so i'm just going to go to the form you can do it directly online so this is where you will fill out your articles of incorporation you read all of this you fill in this information contact person that would be you your entity information will be the name you decide to name your corporation my corporation is 312 corporation this is where i put my entity number but you won't have one so ignore this your comments you do not need to fill in that's only if you need any like it says here written communication with secretary of state for this document if you need to explain something you can basically here is your articles of incorporation you put your name of your corporation in area one area two you will put your address and individual three service of process can be you so california agents first name you can be your own agent so this will be your first name or your first name here middle last um and your address it can still be the same address as your corporation or if your corporation is not your home address then use your home address there if you have shares then you can enter one or two or a but if you don't have shares then you can also leave it zero then you will sign this and you will type and print your name and then you will mail it back up here to this address here you will also send it with a 100 check the only thing is is when you're a corporation like in california you have to pay a minimum of eight hundred dollars every year to the california franchise tax board the fees are a hundred dollars oh here we go if you drop it off and you take it in you have to pay fifteen dollars for a counter drop-off fee or you can mail this in um if you need a copy here we go five dollars certification for a copy if you need additional copies it'll be one dollar so you'll want to send in a hundred and five dollars and some they used to ask for that in two separate checks a five dollar check and a hundred dollar check but i mean that's just how much it cost to become a corporation it's a hundred dollars it's really not that difficult when you're creating yourself a corporation you will also so you'll send in this is the cover so you send this in with this fill all this out print it and then you will send it with something that you will type out now that's my corporation number this is a copy of what i created so what you'll do is you'll put articles in corporation the name of this corporation uh and then you have your one two three four and yeah all in roman numeral and you just put this information here the purpose of this corporation is to engage in is to engage in any lawful act or activity for which corporation may be organized under the general corporation law of california other than the banking business the trust companies business or the practice of a professional permitted to be incorporated by the california corporation's code it is their jargon that's what they want it to say so you put that stuff in there three you put in the name your address and then in five you say this corporation authorizes uh authorized to issue only one class of shares of stock and the total number of shares of this corporation is authorized to issue and i put one million because if it ever grew who knows i was i could have issued that many stocks but i didn't i think i have a thousand stocks then you put your name you create all these lines you sign it and then when you get it back you will get it stamped you will get your corporation name and you will get this from the secretary of state with their seal of approval signed by whoever is the secretary of state at the time so it's fairly easy but the reason uh it's nice to become a corporation is because you get better tax benefits however in the first month after becoming a corporation you have to send in an additional form so that you're not a c corp um you want to become an s corp because an s corp is a small public uh private corporation not publicly traded it wouldn't be one that's on the stock markets it's just a small individual corporation anyways i hope this helped you today good luck and i hope you like what you learned