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1.
Before you start your home-based business, find out what government
regulations specifically apply to your type of business.
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2.
If required, check with the weekly newspapers in your area to get the
lowest rate for publishing your fictitious business name statement. Some
states, such as Virginia, do not require the publication of the business
name.
3.
If you plan to operate your business under more than one fictitious
name, you can save on filing fees by listing all names on one
statement (up to five names are allowed).
4.
When applying for a seller's permit, remember that the lower your
estimated sales for the year, the less money you will have to post as a
bond.
5.
Keep a copy of your seller's permit in your wallet or purse so that it's
always handy when you need it.
6.
Reduce your overhead and paperwork by utilizing subcontractors instead
of employees whenever feasible.
7.
If your business is a partnership, be sure to obtain an IRS employer
identification number (for U.S.) or business tax ID for other countries,
whether you have employees or not. This is required for your tax
return. Weigh the advantages and disadvantages of each legal
form before selecting the one to use for your
business.
8.
If you are unable to patent your invention, you may still be able to use
a trademark or copyright to protect your rights to it.
9.
Utilize the services of attorneys or other experts in complying with
government regulations, structuring your business, or obtaining a patent
or trademark.
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About the Author:
Isabel Isidro for Power Homebiz Guides.Read
her blog at
PowerHomeBiz Small
and Home Business Blog
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