Here is a simplified version of the steps any new business person should do to insure you are able to take advantage of all of the benefits of owning and running a Home Business.You can, of course start building your chosen business while waiting for your DBA approval.

First things first. Go to any notary and get a fictitious name form also known as  a DBA or ‘Doing Business As” form and choose a name for your Business. This will cost you about 50 dollars in most States. Many of these forms can now also be found online. Look it up in Google for your State.

Next, once you have received your confirmation that the name now belongs to you in your State,  go to your bank and open a Business checking account using that name.

Do all possible transactions for your business through that account. You can now write off all of your related business expenses the following year on your taxes. This includes, website fees, software, leads, training, advertising and fees charged by Network Marketing or affiliate marketing companies you may be using to power your business.

You should also check at your town or city office whether they require you to license your business in your town. My town charges a yearly registration fee of 25.00 which is also tax deductible. Please note that your Water and even your garbage collection bills may increase a bit due to the fact of being registered as a business. This is also tax deductible as is a percentage of your home utility bills such as electric.

I suggest using an accountant to file your taxes so you can take advantage of all the benefits of being a small business owner. The accountant’s fees are tax deductible as well.

I would also recommend getting a dedicated business phone line. Many Carriers will also have the option of assigning a toll free number which rings to your current business line. This looks much more professional to those that you want to join you in your venture.

Once your internet business really starts doing well go to a Lawyer and incorporate your business. This will offer you more protection than the sole proprietorship or DBA.

That’s all for today. I hope this was helpful. Failure to follow the steps above can result in the IRS judging your business as only a hobby and they will disallow any write offs.

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Feel free to re-post this anywhere if you link back to http://easybusinesstoday.com/if-you-are-ser…ss-do-it-right/

I have run a Successful Website hosting business, Best1Hosting, for the past 11 years, as well as several successful Network marketing, mlm and affiliate ventures all under my original business name.

P.S. How a part time home business owner can realistically make a full time income. Recorded Training:
http://easybusinesstoday.com/newstart

P.S. Be sure to leave your comments and let me know if this was helpful.

Sincerely,

Tim Langen

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