How to start a tutoring business? -

I m a college student looking to start a tutoring business for college level students. I was wondering how do i go about this. I have my rates in mind but i m not sure if there is any legal stuff i need to do. Do i need to claim self-employed to the IRS. Will i need to have liability insurance? Will i get in trouble for tutoring without a education diploma?

Check with your state and local authorities to see what is required. You can usually find the info on your states website. If you are tutoring on your own and not through someplace like Sylvan then yes, you are self employed. Any income should be reported to the IRS. You would have to file a Schedule C on your income tax returns. You also have to keep track of any expenses you incur as a part of the business.