•A product to sell (Create your own or sell other’s). Your own product can be either digital (e-book) or physical (book). Internet sells almost everything. With some efforts you can sell your product too.

If you do not have one you can join affiliate programmes of already selling products. It is simple. you sell their product and they give you commission on every sale. They have made a sale, they are happy.You make money you are happier.

•A website for your products. This is you web store to host product you choose to sell. If people who visit your store choose to buy, you make money. Millions of people use internet everyday. You can imagine scope.

•Hosting. This is space on web land where your web site will be placed. These services are available both free of cost and at a price.Price varies as per service provider and what you are looking for. But if you aim for professional results use paid ones.

•Promoting your site. This is to let people know that you have a store which sells those products. This is difficult part but as you gather knowledge it becomes easier too. Various marketing strategies are available in plenty. You can use as per your budget.

Just a word of caution. Don’t spend your money on hypes promising instant results. There is nothing like that even on net.

Once you start, start with full throttle. Do not hesitate for hesitation will hold you back. Learn essentials as you go along. Gather knowledge and use it for expansion of your business.

I again welcome you decision to start home business. It will be a promising year, I promise.

Good luck.

For 2005, you must file a Schedule C for period of January 1 through February 28, when your business was still a Sole Proprietorship. And you must also file a corporate income tax return for March 1 through December 31.

Maybe that's no big deal. Maybe you enjoy filing one business income tax return so much, filing a second one doesn't bother you. And it may be that inconvenience of filing two tax returns in 2005 is far outweighed by legal and tax advantages of incorporating.

Keep in mind, too, that 2005 will be only year you have to do this "double duty". In 2006 you will only have to file corporate income tax return.

But if you are thinking about incorporating, best time to do it, from a tax paperwork standpoint, is as of January 1. Only then do you have a "clean break" from old sole proprietorship to new corporation.

This timing issue can also be relevant if you decide to make switch late in year. If effective date of incorporation is November 15, you will have to file a Schedule C for January 1 through November 14, and a corporate return for November 15 through December 31. In that scenario, you should ask yourself, "Do benefits of incorporating outweigh convenience of waiting until January 1?"

So before you decide when to incorporate, take a moment to reflect on tax reporting consequences of incorporating on January 1 vs. any other date.

Sometimes it may make sense to wait a few weeks (as in second example), and sometimes it makes sense to "do it now", especially when January 1 is nearby.

Wayne M. Davies is author of 3 tax-slashing eBooks for the self-employed, available separately or as a 3-volume set, "The Ultimate Small Business Tax Reduction Guide". http://www.YouSaveOnTaxes.com/ultimate-guide