A word of caution about research. Do not get side tracked or overly involved in research that you loose sight of your main objective.

The purpose of research is to gather information for your business venture. Do not fall into 'Research-Research- Research' trap and fall prey to 'Research-Junkie' syndrome. Research until you have enough information to start. You will learn more as you go along.

Sixth. Study your competition. Find out who is successful in your field. Find out what successful people are doing to achieve their goals.

Seventh. Find a 'niche' in your field of interest. For instance, if your choice is Music, do you want to run a store selling cd's and records? Sell musical instrument? Teach music? Join a band and perform on stage? Go into music CD production business? etc. etc.

You will be more successful if you concentrate your efforts on a particular 'niche' in your field of interest.

Eighth. Develop a plan of action. What tools will you need? What path should you follow? How much money is it going to cost you? Is it going to be a full time or a part time business? How much time are you willing to devote to your business?

Nineth. Set realistic goals. You cannot expect to make $100,000.00 your first month. Do not believe those who say you can. Setting up and running a successful business takes time and work. Ask any successful business person and he will tell you.

Where will you be in one month, 6 months, one year? Plan. There is a quotation that goes, "If you fail to plan, you plan to fail." Therefore, plan and set realistic goals.

Tenth. This is most important step. All your research, preparation, game plan and everything else will be of no use if you do not take this all important step. And that all important step is ACTION.

Start, Do! Not next month, or next week or next day. Start now. Take first step today even if it is a small one. Make a daily schedule of what you must do and stick to it. Keep on taking progressive steps everyday. Remember,

"Yard by yard it is hard. Inch by inch it's a cinch."

With proper knowledge, information and planning, you will work 'smart.' Most of successful business people have taken this route.

Follow these 10 steps and your success is assured.

Unemployment insurance tax -- You are required to pay federal and state unemployment taxes if you have more than one employee on books for at least 20 weeks in a calendar year, or if they have paid more than $1,500 in gross wages in a calendar quarter.

Again, check with your state's Department of Revenue for more information.

A home business qualifies for all of same tax deductions regular businesses do. In eyes of IRS, only difference between most home businesses and Fortune 500 Companies is their size, and fact that home businesses can also deduct many household and living expenses.

Owning a home business will entitle you to deduct thousands of dollars in every day expenses. After all, why pay more in taxes than you have to?

Listed below are just some of items you are allowed to deduct:

* Your car and car expenses.

* Your mileage.

* Your home computer, printer and other office equipment.

* Your home. If you're not a homeowner, you are allowed to deduct area where your home office is set-up.

* If you're a homeowner, you may deduct a portion of your property taxes and utilities.

* Your travel expenses.

* Your restaurant meals, entertainent, dinner parties.

* You may pay wages, tax free, to two of your children, if they are involved with business.

* You may deduct your families health insurance.

NOTE: To qualify for above tax deductions, you must be actively working your home business.

In closing, since tax laws are continually changing, I highly recommend you consult with your accountant or tax advisor to learn more about applying aforementioned deductions to your home business.

Dean Phillips is an Internet marketing expert, writer, publisher and entrepreneur. Questions? Comments? Dean can be reached at mailto: dean@lets-make-money.net