I’m self employed and owe a few years worth of taxes. Can i legally open a small business?
Question by : I’m self employed and owe a few years worth of taxes. Can i legally open a small business?
I have been a tattoo artist for the better part of 10 years now and I have been thinking of opening my own shop recently. rather than being a basement shop operating at my discretion with no license like most basements shops, I’ve decided to make mine a legitimate one. My biggest obstacle right now is the accrued back-owed tax debt I have accumulated over the years. My question is “Can i legally open a small business?”
Best answer:
Answer by Doctor Deth
you already did that (being self employed) and still haven’t paid those taxes – the IRS is going to put a lien on your sooner than later unless you get those paid
What do you think? Answer below!
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Had a co-worker, same problem; he’s been tattooing for 10 years now, wanted to open up his own shop, but owes a lot of back taxes and have negative credit score. He couldn’t even get a place that would lend him the land
So what he did was to partner up with a friend (high risk) and borrowed from friends and families to pay for the 1st year’s rent. If you want to open a shop on your own, you have to pay off your debt first before anyone will lend a location to you. It is legally possible, but a pain in the a$ $ …and you won’t make any money till your debt is paid off 
So if you take that route, prepare for frequent IRS audits and collection agency phone calls.