Please I need your advice on setting up a Business and Taxes

Question

Please my name is Chris living in Colorado. I buy goods mostly electronics here in US and post/mail to Africa for resale. I make about $8000 purchases almost every month. I spent a lot both on Taxes and the postal service. I have been doing this business for about a year now. I haven't registered it and I don't have any legal documents. Bellow are the questions I have been worrying about;

1)Since I sell the goods in abroad is there a way I can get tax exempt code?

2)Since the goods I purchase are all for resale, am I eligible to get a resale certificate and will that prevent me from paying tax? If so how can I please get the resale certificate in Colorado?

3)Please do I need to register the business or there is no need?

4) My agents, employees and partners are all living in abroad (Africa). If I need to register the business, what category will best fit it for tax/claims purposes? Thus should I register as:

Sole proprietorship, Cooperation, Limited partnership or Limited Liability Partnership?

Thank you in advance for whatever advice you can give

Answer 1

No disrespect but you really do need to get your act together.  You have a business that is doing nearly a $100,000 a year in business and you have no idea what the regulations and laws are that you should be following.  You should spend a little time and perhaps money with a tax professional that can address the issues you present and the hundreds more that you need to deal with.  You have a successful venture here that could be very profitable if you learn what to do.

Answer 2

Read about self employed tax filing and payment of estimated taxes: http://taxipay.blogspot.com/2008/04/tax-...