I get a lot of questions asking about home based businesses, They are the way to go if you want to make part time income or have something to do until you get working full time again but unless you have deep financial pockets you have to watch what you are doing.
The sobering news is that most businesses started at home fail within 3-5 years. People start selling multi-level marketing schemes, vitamins, perfumes, cleaning products, you name it-somebody probably has an angle on it.
One of the latest items has been e-cigarettes which were electronic cigarettes from China that allowed you to dial your nictotine consumption and take it flavorfully electronically sparked. People were selling them in kiosks in malls but the FDA got ahold of the news and is shutting them down since the device hasn’t been approved.
These leads into one of my number one issues with people who start up a business at home – do your homework on licenses, taxing regulations and the market. Three simple things that if done can save you money and horror stories later on. If you have a requirement for a business license, get it. In the City of Los Angeles, if you make under $100,000 you can generally get a license for free- if you remember to file timely. If you are required to collect taxes – make sure you get a resale license from your state taxing authority and take the time to collect whatever you need to from your clients or customers.
These simple tips will also give you insight into your business and keep your actions above board and limit the chances that if you get audited you will be treated as a hobby (and taxed accordingly) instead of a business.
Some home based businesses that may make you some money – credit card or general debt restructure advice, anything that has to do with making money at home, selling organic vegetables.
March 29 2009
Interested in any of my books? You may want to make a stop over here. Please click through to purchase my books and some other interesting items that actually ARE on sale. Have you read my book, “Bad Tax Idea, Good Tax”? Please order it today. The tips inside can save you hundreds if not thousands of dollars!
If you are looking for a day job, part time work, suggestions for saving money or investing, please check out my book listed below. Part of all the proceeds from the sales of that book go to Rett Syndrome research. One girl is born with Rett Syndrome worldwide every fifteen minutes. My daughter Arianna has Rett Syndrome and we are working to do all we can to make her life easier and find a cure in her lifetime. Boys born with the Rett gene generally die at birth.
Kim Isaac Greenblatt
Interested in any of my books? You may want to make a stop over here. Please click through to purchase my books and some other interesting items that actually ARE on sale. Have you read my book, “Bad Tax Idea, Good Tax”? Please order it today. The tips inside can save you hundreds if not thousands of dollars!
If you are looking for a day job, part time work, suggestions for saving money or investing, please check out my book listed below. Part of all the proceeds from the sales of that book go to Rett Syndrome research. One girl is born with Rett Syndrome worldwide every fifteen minutes. My daughter Arianna has Rett Syndrome and we are working to do all we can to make her life easier and find a cure in her lifetime. Boys born with the Rett gene generally die at birth.
Kim Isaac Greenblatt
Home Based Businesses
