1) Business name – Could use your name with Social Security number, DBA, Inc or LLC
2) Open separate checking account – This will keep income and expenses separate from personal and make business accounting and tax filing
3) Quarterly tax filings – Withhold approximately 20% for taxes and file every 3 months.
4) Proper accounting and bookkeeping methods – Free online resources like Outright.com or Mint.com or hiring a knowledgeable bookkeeper.
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