Me and two of my friends (we are teenagers) are starting up a lawn care business this spring and summer. We need to know if we need to apply for a business license, talk to the IRS, or any other legal matters. We only intend for just the three of us to be working on the lawns that we service; therefore, we won’t hire anybody. And it will more than likely be one year. We plan to split the profit four ways, with the extra portion paying for expenses. If we give our ‘business’ a name is it therefore taxable? Just tell me everything that you know, please.
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- More Profit From Little Repairs.
