turbotax icon
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Starting a small business with digital products

Hi! I am starting a business that provides digital products. I have not launched yet but I want to make sure I set everything up properly before launching so I do not run into any problems when it is time for taxes. I did sign up for stripe and it did give me an option to remove taxes is that a good idea? Or should I worry about it at the end. I jus want to make sure I am doing everything properly. Should I set up my LLC and business bank account before I launch or should I wait until I launch to do it? Any other suggestion for me as a new business owner?

This feature is pending. Thanks for your patience.
Didn't get the answer you wanted? Would you like to view more questions that might be relevant?
2 Replies
Holly W
Employee Tax Expert

Starting a small business with digital products

Hello @Briannakeeling 

Thank you for joining us today!  Congratulations on your upcoming business adventure.

I do recommend setting up a separate bank account for your business, as well as a LLC with our state, and obtain and EIN number.  Here is a great article that will help guide you in the right direction:  Starting a new business and IRS Estimated Taxes 

Depending on the state in which you live, there may be different filing requirements as far as sales tax and estimated tax payments.  If you tell me a which state you reside in, I can provide information on their filing requirements.

Thank you again for joining us! 

Holly W



**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Starting a small business with digital products



Thank you. I live in New Jersey


message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
message box icon

Ready to start your taxes?

Hand off your taxes, get expert help, or do it yourself.

See Pricing
Manage cookies