©2005 by Debbie Solomon
We all know that starting your
is a reality that is now easier than ever to
The phenomenon of business on the interent is
short of intriguing. More and more people are
their own businesses from home because of the
the internet provides.
There is so much to choose from and the options
However there are many aspects that many people
seem to overlook
that is essential to business.
The main essentials are the legalities that are
involved in starting your own business. I
realize how boring
this must seem, but in all actuality, once you
all these legalities together, you begin to
realize the formation
your business is taking. To SEE your business on
one of the most satisfying accomplishments you
I must add that it is imperative for everyone
to do this. Whether you are an independent
for an affiliate program or you have your own
are marketing on the internet, it is still YOUR
legalities are of the utmost importance if you
want to be serious
about a successful business of your own. I don't
damper your parade, but joining a program and
on the internet is NOT a professional business.
This is just
something you are doing to make a couple extra
bucks and no
one will ever take you seriously.
Click Here to Start.
4. You need to obtain an Occupational
states require you to have your fictitious name
prior to this, so you may want to have that information
first. An Occupational license is alittle different in
so you may have to do some leg work on this.
Some states require a county and a city occupational
license. So it is important to ask that question.
City Hall takes care of your City Occupational License,
you can inquire about the legalities of a County License
that time and they will tell you where to go. The normal
for an Occupational License is anywhere from $30 to $50.
very easy to get the details of obtaining your license.
City Hall first and they will tell you what you need to
5. Open a Business Account. You will need all the
above in order to open a business account. Many clients
want to make a check out to your business. Plus if you
a merchant account it will go right into your business
for quick reference. It is much easier to keep records
with a separate business account.
6. Medical Insurance. This is the biggest bonus
Because you go through so much to make your business
now you know there are some perks. There are many health
insurance companies that have Group Insurance for 1
businesses. Normally they call it Group 1 Insurance. If
a business account, all the above paperwork, you are
well on your
way to some GOOD health insurance. Some companies
you be in business for one year, but you will find some
that do not.
Individual insurance is HARD to get and very expensive.
Plus there are so many limitations of coverage, it is
not worth it.
With Group 1 Insurance, it is like having insurance
another company as far as the benefits go. It is not
and the personal benefits of knowing
you have good insurance because you legally registered
business, is well worth some of the aggravation you may
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7. You may also want to go to these websites
what is required from the government. This is a
subject and legal requirements change for each
type of business.
If you still have questions, the IRS provides
help by email.
Small Business Info:
IRS Site: http://www.irs.gov/
8. If you are selling a physical product, it is
obtain a Tax ID number. You can also inquire
with City Hall on the steps you will need to
9. And the most important of all. Your Taxes. I
am not going
through all the legalities of this, but here are
factors to consider. You MUST file taxes every
year on your
company. Some states require you to file
quarterly. Do what
you have to do, because it is essential. My
to get an Accountant at file time. You do not
need a CPA.
At least not in the beginning. There is too much
error if you try it by yourself. You would not
I learned the first time around with my
accountant. I found
out I do not have to file Quarterly, because I
am a sole
proprietorship and I have no employees. One very
aspect....Keep record of ALL YOUR EXPENSES. Even
the cost of your ISP each month is a necessity.
NOW, are you still ecstatic about starting your
Did you know so much was involved? Or did you
can have an online business and NOT do this?
Everyone has their own opinion on this, however,
if you want
a Legal, Professional and Successful Business,
put it into
writing. Get your proper Licenses, Accounts and
You will be surprised of the advantages you will
becoming a professional businessperson.
ABOUT THE AUTHOR:
Debbie is the Creator of The HomeSource Arena,
which is The Leading Source in Certified Home Employment,
and owner of The Online Exchange Ezine, a Top Rated,
world renowned Ezine. The only Ezine that will give you
FREE Access into an Exclusive Members Only Club, just
for subscribing for FREE to The OnLine Exchange Ezine.
Please visit her site at:
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