Yesterday, 10:13 PM
Hey all, I was recently informed by a coworker of mine that I could apply for a business license and potentially get approved for business grants.
We're both into photography, except he has already established himself and done freelance work, whereas I still have unpublished content that I instead plan to upload to social media as a content creator.
He said he applied for some grants last year and received over $20k, most of which he used for equipment and regular expenses.
He claims both my and my buddy (we work together) can apply for a business license and business grants as sole proprietors and potentially be eligible to receive funding for better equipment.
I have already applied for an received a EIN number, and now I'm currently waiting until January before I apply for the actual business license and grants (he said this is the best time to do so.)
He also said I need to log all of my expenses, including regular living expenses like bills and groceries, and that they'd base my approval odds on that?
I just want to know if there's any important details I'm missing out on? My coworker made it sound way too easy and practically guaranteed I'd be approved for a grant, which sounds way too good to be true.
Also, should I be approved for grant money, do I have to report said funds on my taxes? I keep getting mixed answers on this.
We're both into photography, except he has already established himself and done freelance work, whereas I still have unpublished content that I instead plan to upload to social media as a content creator.
He said he applied for some grants last year and received over $20k, most of which he used for equipment and regular expenses.
He claims both my and my buddy (we work together) can apply for a business license and business grants as sole proprietors and potentially be eligible to receive funding for better equipment.
I have already applied for an received a EIN number, and now I'm currently waiting until January before I apply for the actual business license and grants (he said this is the best time to do so.)
He also said I need to log all of my expenses, including regular living expenses like bills and groceries, and that they'd base my approval odds on that?
I just want to know if there's any important details I'm missing out on? My coworker made it sound way too easy and practically guaranteed I'd be approved for a grant, which sounds way too good to be true.
Also, should I be approved for grant money, do I have to report said funds on my taxes? I keep getting mixed answers on this.