As a home-based business, you will have certain legal requirements. It may be worth consulting a home business lawyer who can advise you about:
- Deciding which form of business is best for you – sole proprietor, a corporation, partnership or limited liability company (LLC).
- Check your legal tax requirements for your business set up.
- Do you need to apply for an Employer Identification Number (EIN) to start your business?
- Business licenses and permits.
- Whether you need an occupational license.
- Whether you need to register for sales tax?
- Choose, register and protect your business name.
- Any zoning restrictions? Can you legally operate your work at home business?
- Written agreements – partners, clients, subcontractors, etc.
- Restrictions on the products or services you want to sell?
- Employing staff? What are the legal requirements?
It may seem like a lot of work and red tape to set up a home business, but ensure you take the time to research and understand all the legal requirements and implications before you start your business. It will save you a lot of heartache later.