What steps do I need to take in order to have a 100% legal business selling a

[Jane]

product to people on the street? Yes, I have a good idea that I think will sell. Not a million dollar idea but enough to give me a couple hundred bucks a week.

I already have all the product I need. People have said I need to get a vendors license. I googled that in my area and it looks like it only will cost $25. So is that it? Once I get a vendors license I can start my "business"?

If I have to pay taxes then how does the government know how much I actually sold? What if I sell 50 but tell them I only sold 10? How will they know?

Will getting a vendors license and, in a way, becoming self-employeed have an impact on my taxes? Like right now I am expecting to get $3000 back but don't you have to pay a tax to be self employed or something? Obviously if I started this little business at this time of year it would be pointless because all the money I make would go to pay that tax.

Can someone please guide me step by step on how I go from nothing to selling my product on the street?

 

[Pressurespot]

Do you mean literally "on the street' like a trench coat full of watches, or do you mean selling it online, or through other traditional channels.

You are allowed a certain $ amount per year in earning as a "hobby". Check the limits in your state as well and that may be the way for you to go. Otherwise, you'll want to create an S-Corp or other business entity, so that you may properly work the taxes, write offs etc. You are correct, they won't know if you sold 1 or 10, but you'll know and God will know. He honest in all your dealings, it's always the best policy.