| So you know you want to begin a business from your | | | | The pros of forming the right business entity can be |
| home. But how do you actually do that? I have outlined | | | | liability protection as well as many tax advantages |
| a step-by-step guide of what you'll need to do and | | | | including huge tax savings. Seek the advice of your |
| consider, if you want to get started on the path to a | | | | attorney and accountant to help you decide. |
| legitimate home business. This is an exciting time and | | | | If you don't incorporate and you will not be using your |
| you'll want to be sure you choose the right home | | | | name as part of your company name, file a DBA |
| business and get started properly. Hopefully this home | | | | (doing business as) fictitious name statement. Again, |
| business will be your vehicle to financial freedom! | | | | please consult with an attorney and an accountant to |
| Type of Business to Start | | | | help you decide the right incorporation method and the |
| If you don't already know what type of home business | | | | tax implications for you and your home business. |
| you want to start, jump online and research "home | | | | Finances |
| business ideas". I believe one of the best home | | | | Open a business checking and/or savings account. |
| business opportunities are those in the online marketing | | | | Invest in a good business finance/book keeping |
| industry. In other words, find a product, or another | | | | software such as Quicken or QuickBooks. Consider |
| home business opportunity, and promote it online. If you | | | | applying for a separate personal or business credit |
| can find a company that can help you utilize the power | | | | card. Use this credit card solely for your business |
| of the Internet, you will soon find yourself in a position | | | | purchases. |
| where people are finding you and slamming your email | | | | Web Hosting and Design |
| inbox with requests to buy your product, or join your | | | | Consider purchasing web hosting and a domain. You |
| business opportunity. That is the gold at the end of the | | | | can then use their templates to design your website or |
| rainbow! | | | | hire a professional website designer. Research "web |
| Incorporate Your Home Business | | | | hosting" online and compare the hosting packages and |
| Disclaimer: I am not an attorney or an accountant. | | | | their prices. |
| Please consult your professional legal and tax advisor | | | | Marketing |
| before making any decisions regarding forming a | | | | Have some business cards printed. is a good place to |
| business entity and choosing the taxation structure. | | | | start. Tap into your inner artistic talent, and create |
| This section is designed bring up areas to discuss with | | | | some flyers marketing your new business. Hire your |
| your accountant and your attorney. | | | | neighbor's kid to deliver them or drop them off yourself |
| If you are serious about being a business owner, you | | | | at your local grocery store, library, and some business |
| will want to consider incorporating your new home | | | | offices if they permit such advertising. |
| business. You can incorporate as a Limited Liability | | | | The real key to marketing though is to find a company |
| Corporation (LLC), a C Corporation, or an S | | | | that will help you market yourself, first and foremost. |
| Corporation. The benefits with a LLC are that it is | | | | Market yourself, become an expert in your industry, |
| usually cheaper to file and there are less formalities to | | | | then market your product or home business |
| follow, depending on the state you file in. There are | | | | opportunity. Researching "free marketing methods |
| many benefits to forming a C or S Corporation instead. | | | | online" would be a start. |