Bradley | Oct 13, 2020 | 0
Plan how you’ll end something … before you start.
I’m shutting down my website business and I don’t remember it being this much (paper)work to get it going.
If I’d known how it was going to end, maybe I wouldn’t have started.
Maybe because I’m trying to get it all done with a few phone calls and clicks. Maybe because I can’t wait for it to just be done with. It’s not as clean as, oh, I don’t know, closing your account at GoDaddy. Delete this, cancel that, stop auto renewal of services. I call people, mail forms, sign on dotted lines and try to understand things that have baffled me for years.
I’m also setting up a new Sole Proprietorship, so I need to do things there as well (new bank account, new EIN, etc.).
Here’s a bullet list of who I *think* I’m supposed to contact, based on my piecemeal research:
City / County
- Office of the Treasurer and Tax Collector (TTX)
- Office of the Assessor-Recorder
- Office of the County Clerk
- FBN (Fictitious Business Name–if older than 5 years, don’t need to dissolve)
- Employment Development Department (EDD)
- Board of Equalization (BOE)
- Internal Revenue Service (IRS)
- Department of Labor (DOL)[Important note this is very close to the LOL acronym … jus’ sayin’ … yes, I’m getting a little loopy at this point.]
- Bank (Bank of America)
- Payroll service (Intuit)
- EIN (Employer ID Number). Cancel old one, create new one (for sole proprietorship).
- Find any incoming automatic payments and change them to a new account
- Same with outgoing
Are we having fun yet?
There’s something to be said with the decision among:
- Work for a company,
- Set up a Sole Proprietorship and
- Set up a corporation.
Employees, payroll, taxes, and I didn’t have to deal with unpaid leave, sick days, health insurance and who knows what else my ostrich head-in-the-sand business strategy missed.
But now it’s over. I can’t imagine setting up another corporation unless someone else persuades me to do so and then … does it.