Jane - Sole Prop

Transcript

00:01

Meet Jane

00:03

Jane lives on her own in the big city.

00:06

Jane works full-time as an office admin

00:10

But her true passion is

00:11

SOAP

00:12

She loves making wonderful smelling (and looking)                 soap for herself and her friends as gifts

00:18

People have repeatedly told her to start selling her soaps

00:23

And since rent is going up, Jane could really use the extra money.

00:28

She gets started on Etsy, selling under her own name.

00:32

And soon she's developed quite the customer base.

00:36

She wants to get creative with her business name, and settles on

00:39

It's About Thyme

00:40

since that is a core ingredient in all of her soaps.

00:45

Now her sales start really picking up and she needs to open a bank account for these funds.

00:51

She has no employees and is reporting this income on her personal tax returns.

00:51

It's About Thyme

00:56

What type of business would this be, and what documents does jane need to have in order to  establish her account?