What are the basics of creating your own small Business? -

I m trying to create a small legitimate Business for some small income coming in on a mothers side. I just wanted to know the basics on what you need to start and create your own business. Now what I wanted was to just be able to go to an event and be able to paint and do other stuff on faces. basically a painting face booth. only theres other things i would do too such as if you wanted a prosthetic piece on your face I would do that also. and other misc stuff. So what all do i need and stuff?

Generally when you start a business, you need to register with the federal Gov t for an EIN, and register with your state for a sales tax license. You may also want to incorporate, but this isn t always necessary and may just be too much for your business plans, but it does provide tax benefits and other liability and business benefits. You may just want to do this at a later time.You will need to file taxes for any income you receive. Consult a local CPA for the exact tax reporting requirements for your area.