While you do not need an official certification or license to become an event planner, you may want to register your event management company and business’s name.
Then, be sure to open separate accounting for your business, and track all your expenses and income for tax purposes.
What about communications services for event communications and more?
With services in mind, it’s important to determine your fee structure.
In time you may handle a full range of events, but initially recognize that there are distinctive differences between corporate, association, nonprofit and social events. Because you decided on your market, you may be thinking this is a good time to share the news about what you can offer to the world. Starting your own business isn’t as glamorous as such fantasies.
Like everything else, starting an event planning business requires a business plan.
Perhaps you’ve been working in the events and meetings industry for several years and think that now is a good time to figure out how to work for yourself.
Or maybe you’ve helped organize a few events in the past and feel that this could be your life’s passion.
The Expert to Tax Planning William Perez outlines the six forms of business organizations recognized within the U. by the IRS: Sole proprietor, C-Corporation, S-Corporation, Partnership, Trust and Non-profit organization. Event planning businesses should secure general liability and other forms of insurance to protect the business owner’s interests.
Several forms of insurance exist, so it’s best to speak with an insurance advisor to learn all of the requirements.