Trey Lavergne

Systems Administrator
Hi! After working almost 5 years at a non-profit - I'm making a no-code tool directly for non-profit staff. I'm also enrolled in Flatiron School's Software Engineering Program - realizing that no-code is the ULTIMATE form of abstraction 🀯
For those seasoned & newly seasoned vets:
  1. What are you required to provide during tax season?
  2. Is there any advice you'd give to help a new founder maximize their margins?
Hire a tax accountant -- worth the money and not having to deal with it IMHO.Β 
Maybe someone could help me understand:
  1. Are taxes based on where your online company is based out of?
  2. Is it required to have a physical address? If so, are there pros/cons?
It depends :)Β 

This is a helpful article:Β https://articles.bplans.com/what-ecommerce-startups-need-to-know-about-online-sales-tax/

Physical address depends on what kind of company it is. LLC requires a physical address and you can't have a PO box. In other cases, like for a newsletter, providers make you have an address and a lot of people use a PO box for this so personal information isn't disclosed.Β 
Those of you with more experience, in setting up my Stripe account, could you provide some clarity on why a new founder would choose one over the other?
Hey Trey,Β 

This is not legal advice :) but I think the main difference is around liability and what you're personally held accountable for (thus the first L in LLC). Each state has different rules so I would look into that as well. It's harder to form an LLC but if it's a serious business idea then it might be worth to go ahead and do it because I think it is more difficult to change from sole-proprietor to LLC vs. start fresh. Anyway, hope this helps.Β