• Federal ID number - complete IrS Form SS-4 to obtain this ID number if you are hiring employees or if your business form is anything except sole proprietor. Get this from the IRS at www.irs.gov/businesses/small/article/0,,id=97860,00.html.
  
  
• Kentucky ID numbers - The Kentucky Form 10A100 will suffice for multiple ID numbers which you may need: employee withholding, corporation income and license, coal, and sales and use taxes. You select the IDs that you need and the state supplies the numbers. Get this form from the Kentucky Revenue Cabinet at www.revenue.state.ky.us/registration_forms.htm.
  
  
• Kentucky unemployment insurance ID - If you are going to hire workers within the state of Kentucky, you must obtain a Kentucky unemployment insureance ID number and recweive an unemployment rate from the state. Use form UI-1 for this, which may be obtained from many local unemployment offices or from the Department for Employment Services at www.kewes.ky.gov.
  
  
• Immigration and Naturalization Service - To obtain Form I-9, go to www.uscis.gov/graphics/formsfee/forms/files/i-9.pdf.
  
  
• Local Laws - Many cities and counties also require a business license. Some of these also impose an occupational tax on employees' earnings and/or business gross receipts or net profits. Check with local officials to determine the applicability of local laws.
  
  
• Local Zoning - Local zoning regulations may affect site selection for your business. Check with the city and/or county planning and development office.
  
  
• Industry-specific applications - Many industries also require specific permits and licenses such as Health Department inspections and liquor licenses.
  
  
• Other - Be informed about the applicability of various federal, state, and local laws, regulations, and agencies such as ADA, FLSA, INS, OSHA, and EEOC. Check with industry trade groups or the local chamber of commerce if you are not sure which laws apply to your business.

Know where you are - One of the essential elements of any successful business is knowing "where you are." This involves many factors including financial position, market position, competitive issues, and strategic position. Some of the basics include:

• Open a bank account for the business - all income and expenses of the business should flow through this bank account. Personal deposits and expenses should come from a personal account and not through this business account.
• Establish a bookkeeping system - It is very important to begin business with an accurate bookkeeping system. Many new businesses lose significant tax deductions due to inaccurate bookkeeping. The system should be as sophisticated as needed to provide the information you need to operate your business. For some, this is a checkbook ledger; while for others it is a complex computerized accounting system. Many CPA firms have expertise in helping businesses choose, install, and operate computerized accounting packages.
• Establish a record-keeping system - This is slightly different from the bookkeeping system. A record-keeping system should include an orderly method of filing paid invoices, customer invoices/statements, and bank deposit information.

Know Your Resources - Very few truly successful business start-ups get there alone. Some of the resources available include:

• Your CPA - Whether you are an aspiring entrepreneur, seasoned business professional or an individual looking for financial advice, you can turn to a CPA. If you don't have a CPA, see the Kentucky Society of CPAs at kycpa.org.
• Small Business Development Centers - There are several SBDCs located throughout the state that have significant resources and advisors skilled in helping launch a business. www.ksbdc.org
• Small Business Administration - www.sbaonline.sba.gov
• Kentucky Business Information clearinghouse - an information source for Kentucky business license and permit requirements.
• Kentucky Revenue Cabinet - www.revenue.ky.gov/revhome.htm.
• Internal Revenue Service - www.revenue.ky.gov/revhome.htm.