Home businesses are growing fast. They have low overhead, quick startup and an opportunity for an individual to be their own boss while comfortably working from home. If you are thinking of starting a home-based business, you need to do some research first. Starting a business, even from home, requires a few legal steps that cannot be skipped. And, if you want to get your business off to a great start, you may want to consult with a business attorney in San Antonio to see if there are any special considerations – depending on your type of business.
Pick Your Niche
You have a reason for starting your business, known as the niche market. Perhaps you are selling custom stationary or you are a freelance writer – each has their own industry and niche market. You must choose which industry you are getting into not only for marketing purposes, but for classification when you file for a business license, insurance and even a home use permit. If you plan to branch out into separate fields, you may want to create a separate business rather than mesh multiple industries together into the same business.
Become Familiar with Taxes
Home-based businesses are not free from taxes. You may have to file taxes as a sole proprietor, which means your business income is directly tied to your personal finances. If you incorporate, you may be able to file your taxes separately. Keep in mind that as a self-employed individual, you will pay the self-employment tax, which could take away a good portion of your monthly profits.
Check on Zoning
Zoning commissions in your area may ban the use of your home for a business. Most cities and counties will require you obtain a home-use or home business permit. If zoning laws prohibit you from starting a home-based business, you will not be able to get a permit. Some counties may require that you do not meet with clients in your home, but you can still work out of your home. Have your business attorney in San Antonio review the zoning laws to ensure you’re in compliance.
Hire a Lawyer
While you may assume a home-based business doesn’t need legal assistance, you would be surprised. Home businesses are subject to different rules, taxes and other legal considerations that are not as easily spelled out as opening a storefront. A business attorney San Antonio can help you incorporate, draft contracts and ensure you are in complete compliance with federal and state laws regarding home businesses.
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