Re: Freelance CFI\'s??
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Well my main question is how you(freelance CFI's) handle the business implications. As an independent contractor are you required to have a business license, tax number, and all of that crap or do ya' just do it and fill out the appropriate tax form(can't remember the number) at the end of the year?
[/ QUOTE ]At a minimum, you will need to fill out a Schedule C on your tax return. You can do this on your regular SS# and do not need a business Tax ID unless you set up some form of entity like a corporation or LLC for the purpose of conducting business. Either way, it's a good idea to set up some rudimentary bookkeeping to keep track of CFI income and deductible expenses.
The business license issue is a bit different. They vary quite a bit under state law, from a requirement for filing a simple certificate if you are going to do business under a different name than your own name (Acme Flight Training) to stuff more onerous. You can sometimes find information on state requirements for businesses on your state's Secretary of State web site, but your best bet is to have a quick consultation with a lawyer who understands aviation business.