
Online Bonus
Checklist for Starting Your Home Business
By Lesley Spencer Pyle,
MSc.
Posted September 2007
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 the ground.

- Before you begin your home business,
check the zoning ordinances in your area. Call your city or county
government (usually the 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 the 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 the IRS. Also if you have employees, call the Employment
Commission for information on unemployment taxes you must pay.
- Determine
if you should charge sales tax on your product or service (by
calling the 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).
- Obtain a separate business
telephone line.
- Order business stationary and cards. If you
need small quantities, consider using pre-printed paper.
- Talk
to your insurance company about additional insurance to cover
your business equipment, inventory, liability, etc.
- Meet with
a CPA regarding tax and accounting issues. They may be able to
point out deductions you may be eligible for and help you better
understand tax issues.
- Keep complete and separate records for
your business. Record each sale, invoice, receipt, payroll, expense,
etc. Keep copies of all receipts, invoices, cancelled checks,
etc. Record your business mileage in a daily log book that you
keep in your vehicle.
Be prepared to start your home business
by:
- Developing a business plan.
- Making contacts and networking
for clients and customers before you begin your home business.
- Checking on health insurance costs and options.
- Running
your business part-time if you need the security of your job.
- Have financial resources if needed to carry you through
the first several months of starting your business.
Lesley Spencer Pyle is the founder and president of the national
association of Home-Based Working Moms (www.HBWM.com), the
founder of HireMyMom.com and author of The Work-at-Home Workbook.
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