Legalities of Starting A Virtual Assistant Business

Do you want to have your own virtual assistant business registered? Presently, it’s not regulated but it actually covers a lot of other professions. A virtual assistant can provide administrative support, web services, writing, phone services, and other business services.

Virtual assistants are entrepreneurs. You cannot banner yourself under a business name unless you are legally registered. For business services like legal and accounting virtual assistance, it’s advantageous to be recognized as a registered business since these are regulated professions. Start-ups take considerable time and the starting points are the business legalities.

Business name

Think of a business name that is of course available and legally safe. Try searching online for a trade name at the United States Patent and Trademark Office and then register at your state office for legalities. The name is also good if you can use it as a domain name online.

Licenses and Permits

Know the business license required by your area (city/country) and then apply for the necessary permit depending on your business structure. In some towns, zoning permits are legalities required for a parcel of land to be used for business purposes.

Forms of ownerships

The structure of your business is not an easy decision. If you are not sure of what business entity yours is, consult with an accountant or an attorney for legalities. Available forms are sole proprietorship, partnership, corporation, and Limited Liability Company. This will also determine how you will be taxed.

Taxes

File estimated tax returns and pay estimated taxes quarterly depending on your business structure and no matter how big your business size is. The four general types of tax are comprised of income tax, employment tax and excise tax.

Setting up a virtual assistant business is similar with any other business. However, these legalities are more applicable to the US and there might be differences in other countries. Before you open your virtual assistant business, it’s always a prerequisite to get legal documentation. It’s not just about abidance but also for building one’s reputation.

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