Author Topic: Home Based Side Hustle Question about compliance in MD  (Read 410 times)

FireEngineer

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Home Based Side Hustle Question about compliance in MD
« on: June 24, 2018, 06:41:35 PM »
I'm trying to understand what I need to do to be above board with my side hustle in Maryland.

I have an idea for a widget, which I can easily sub contract the majority of manufacturing on, and do a little bit of final assembly / customization. This widget is going to be a small volume [probably under 5,000 dollars this year, low liability, but I will end up working with local non-profits so I will be on the radar of the tax-man, so I need to be above board.

I am trying to figure out if I need to register with anyone or can I just operate as me personally [is selling a widget different from doing 1099 consulting work?]. Can I just issue an invoice from myself to these organizations when I sell my widgets? I wanted to save the hassle of forming a real business for something that will maybe be 1000 of net income.

I'm asking here, as my question is more on the make a business/don't make a business compliance, than the nuts and bolts of filing my tax paperwork.