To this point I have considered myself to be a "hobby" and not a small business, but I'm rethinking things. I have a small ammt. of income from the bees and I'm pondering if it's time to become "official". I found this site. . . http://www.inc.com/jeff-haden/how-to...few-hours.html and am wondering if this is good advice. Is it good to get a EIN?
If you don't make enough to legally have to file do you need to file if you have a EIN? To this point I haven't made enough in past years based on expenses and income to warrant becoming official, so I'm a bit concerned about starting now and having all of the red tape of it all.
Is there much that's involved once you officially fill everything in and become "official"?
I want to have my business name down so that when people write checks to our business I can deposit them, but that's the only real "need" at this point. Having other assets separate from my personal accounts / assets would also be good.