by Lesley Spencer, MSc; Founder & President HBWM.com Inc.
Once you have decided on your home business, you will need to take steps to set it up. The following checklist should help you get your business off ground.
__ Before you begin your home business, check zoning ordinances in your area. Call or look online for your city or county government(usually planning department, building inspector or zoning administrator)to check zoning rules. Your neighborhood also may have restrictions.
__ Decide if you will be incorporated. Talk to a lawyer and check out books on subject such as, John Kirk, Incorporating Your Business, TPR Publishing. Also decide if you will need patents, trademarks or copyrights on your work.
__ If you will be incorporated, a partnership or have employees, obtain an Employer's Identification Number (EIN) through IRS. Also if you have employees, call Employment Commission for information on unemployment taxes you must pay. __ Determine if you should charge sales tax on your product or service (by calling State Comptroller's office in most states).
__ Register your business name. Contact your county courthouse. (DBA-Doing Business As)
__ Obtain any state or federal licenses if required by your business. __ Set up your business checking and savings accounts. You may want to deduct a percentage of your earnings to set aside for taxes. Shop around for banks that don't charge monthly fees (such as credit unions) and some others.