Gingko100: Thanks for your advice from the small business perspective. I have a call in at the local SBA for a free consultation with an accountant to ensure I don't get the IRS on my back as well to ensure I'm operating legally.One question though; The money in mention (~$8500) has come from the sale of a personal vehicle and also a side job I'm doing under the table for a friend. When depositing this money into my business account, should it just go in as owner equity? Also, retained earnings are new to me. My business has little to no overhead and no recurring debt. What should these retained earning be saved for? Thanks again all.
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