<p>I’m going to start a corporation and sell notes, study guides, etc
and help people finding tutors.
I don’t know how much this is going to help my college apps, but
I’m actually doing it for fun (not really expecting mucy $$ out of this)
I am planning on majoring business, so this would help, right?
It would by nice if this can give me some upper hand…</p>
<p>I need it: I’m Asian lol</p>
<p>if you can pull it of it would be amazing</p>
<p>a corporation … so you’re going to sell stocks? have investors? you have no idea how hard it is to start a corporation…</p>
<p>I think he means a small business</p>
<p>no offense, but this is really basic stuff for business, and even non business majors… shouldn’t the OP know this before attempting?</p>
<p>Setting up a corporation isn’t THAT hard…</p>
<p>I helped set up a corporation with some friends for the last 6 months, and it’s not easy. I easily burn 15-20 hours a week, without much pay.</p>
<p>we’re registered in Delaware >_></p>
<p>Wow, the “encouragement” that you are getting here is so overwhelming…</p>
<p>Ok, sarcasm aside:</p>
<p>Yes, you could start a small business and that could look favorable for you, but, of course, you only want to start it if you really have your heart in it. It will take a lot of time and effort and if you aren’t passionate about your work it will drive you crazy. </p>
<p>You probably want to be considered a “sole proprietor” - really this is the easiest route to go. And for taxes, you only would have to file a schedule C in addition to your regular tax return. I would think with a good website and business software program you could do a lot. Setting up payment for your items will be harder - to be able to accept credit cards you need a merchant account and I can pretty much guarentee that a merchant company won’t give one to a home-based business owned by a teen. There are other options (accept checks only/ money orders - maybe a pay pal account would help - you could look into that.)</p>
<p>Good luck and have fun - there is a lot to learn and that is why having started a business is generally looked upon as a positive thing with college admissions departments. (And don’t pay any attention to those who just want to be smart asses and give you a hard time. If we listen to every “nay sayer” in this life, no one would ever do anything!)</p>
<p>If you’re really going to do this you might want to consider setting up a Limited Liability Company rather than a Subchapter S Corporation (a C Corporation probably wouldn’t make any sense for what you’re doing).</p>
<p>Starting an S corp or an LLC isn’t to big a deal in my home state; maybe $100 in filing fees and an hour or two of figuring out the paperwork would cover it for a newbie. Of course your state will have it’s own rules.</p>