| Anybody can start a small, small business by just | | | | That might not be all there is to it. Depending on |
| rooting through their garage to find some | | | | what you're selling, you may have to pay a broad |
| collectibles, and then posting those items on an | | | | range of other taxes as well. As a general rule of |
| auction site. This is a good way to make a little | | | | thumb: If you're making enough to pay for your |
| extra money, and do it sort of "under the radar", | | | | groceries with your business income alone, you |
| where you're not really running a business so | | | | can't fly under the tax radar any longer. |
| much as just supplementing your income on the | | | | Expansion |
| side. But, if you want to build a real business, if | | | | Whenever you take the next step, take it |
| you want to make a living on it, if you want to | | | | carefully. Every single move towards expansion |
| be financially independent, you need to build a | | | | will need to be coupled with a whole new gauntlet |
| legitimate home based business. | | | | of reeducation, research and paperwork. Nobody |
| There really is a big difference between making | | | | said it was easy. But, it CAN be easy once you |
| some extra money on the side, and building a real | | | | get the education you need in order to do |
| business that you can use to build real wealth. | | | | everything on the up and up. In the internet age, |
| Maybe, just maybe, you can JUST squeak by | | | | the big investment you make in your small |
| selling some stuff on auction sites and making | | | | business isn't money, but time. |
| sure you're not making enough to interest the | | | | One Final Thing |
| IRS, but it's not a safe bet. If you want to make | | | | You should probably take a moment to consider |
| a living with your own business, there are three | | | | actually learning how business works in a real, |
| things you need to learn... | | | | academic setting... Now, this doesn't mean going |
| Liability and Legality | | | | and getting a bachelor's degree after several |
| You need to know everything there is to know | | | | years in a business academy, but you might want |
| about liability and legality in relation to small (and | | | | to consider getting some guidance through an |
| large) businesses. You need to know what sort of | | | | online course or a seminar in driving distance. Just |
| licenses and permits you'll need based on how | | | | be on the lookout for scams. Basic rule of thumb |
| much money and inventory you're moving around | | | | here: If they promise you'll get rich quick, you |
| or based on what sort of services you're offering. | | | | won't. If they promise you can become financially |
| You need to know all about legality and liability in | | | | independent through lots of hard work and smart |
| terms of what's legal in what state. Maybe you | | | | investing, you will. |
| sell exotic fantasy weapons, well, that's not legal in | | | | Find out about the benefits and advantages of |
| every state, so do your research. | | | | starting your own home based business today! |
| Taxation | | | | When you begin your legitimate home based |
| You're going to be paying business tax, sales tax, | | | | business you will start generating an income |
| and self employment tax, and those are just the | | | | quickly! |
| taxes you KNOW you're going to have to pay. | | | | |