If I am the only worker is it considered a business - Business, Finances and Investing Forum

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If I am the only worker is it considered a business

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11-27-2018 , 02:00 AM

TheGodson

veteran

Join Date: Mar 2013 Posts: 3,056

Suppose a person found a way to provide a service for people, but doesn't have any employees. Basically, that person does all the work. Is this still considered a business?

Also, what legal **** would someone have to do in order to not get in trouble with the law while providing said service?

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11-27-2018 , 02:35 AM

Shoe

Carpal \'Tunnel

Join Date: Jul 2004 Posts: 11,869

Quote:

Originally Posted by TheGodson

Yes a single person providing a service can be a business. Any legal requirements (if any) would depend on the service being provided.

You may want to set up a business for tax or liability reasons even if not required to do so.

It's probably best to talk to an accountant/lawyer in your area for professional advice.

Last edited by Shoe; 11-27-2018 at 02:43 AM.

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11-27-2018 , 12:48 PM

Do0rDoNot

adept

Join Date: Jun 2018 Posts: 833

It's a sole proprietorship. The business income, tax and liabilities are all a part of your individual income, tax, and liabilities.

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11-27-2018 , 04:14 PM

jalexand42

Hypothetical Ubermonkey

Join Date: Oct 2005 Posts: 5,390

Quote:

Originally Posted by TheGodson

It's definitely a business.

Legal stuff depends somewhat on the business. You'll likely need a business license and potentially need tax licenses.

If there's any potential risk of liability or real size to the business, it's probably worth setting up a simple little LLC as opposed to filing sole prop/schedule C.

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