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Old 07-17-2015, 05:31 AM   #5
vinnyvangogh
 
Join Date: Aug 2009
Posts: 88
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Quote:
Originally Posted by Tamsin Halle View Post
Thanks! My friends think so too. Anyway, I've been thinking whether I should get a credit card machine that can accept apple pay or maybe I should just stick to a cheaper that does not. What do you think?
Just to add a dampener - what country are you in.... not that it matters really coz any "civilised" country will have laws about business.
It may seem a "drop in" for you... but IF you have any charges - they may well be taxable. If you open a shop - you need insurance - for you, your stock, and the premises- and the public who enter under your duty of care!

You may need a licence from your local council.
You should have a totally separate bank account from any of your own.... if you go bust... expect the laws and creditors to come after any assets. If its your bank account... they can legally take anything in it!

The good news is... anything of yours you put into the business.. your old books... put a reasonable value on them and enter that amount as "cost of opening stock" and if you make a truck load of cash... you can write your own check for that amount. IF you owe money out.... you can sign over the value of the stock to offset all or part of your debts.

Finally.... I suggest you consult an accountant and / or a business lawyer - its safer even if an initial consultation cost you a smallish fee.

Banks may not want to get involved with a card machine... they cost money and - again - you may have to pay a rental charge.

Last edited by vinnyvangogh; 07-17-2015 at 05:34 AM..
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