The,Structure,Your,Home,Based, DIY The Structure of Your Home Based Business: If You Build It
When starting a new work at home business it is very easy to become consumed by it. We spend so much time trying to get the business up and running that we may end up becoming burned out and lose our motivation. There is so much to learn and Normal 0 false false false MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable{mso-style-name:"Table Normal";mso-tstyle-rowband-size:0;mso-tstyle-colband-size:0;mso-style-noshow:yes;mso-style-parent:"";mso-padding-alt:0in
The first structure of your home based business that you can consider is a Sole Proprietorship. This structure for your home based business is the simplest and most inexpensive way to structure your home based business. Since you have complete control over all decisions and operations, this way to structure your home based business gives you all income of the business to use as you see fit. Many of the profits from this structure of your home based business go directly toward your tax return, and the business is fairly easy to dissolve if necessary.The downfall of a sole proprietorship is that you will be legally responsible for all debts of the business, so your business and personal assets are at risk when the structure of your home based business is a sole proprietorship. It is also more difficult to raise capital on your own, which you will have to do with this structure of your hone based business. Plus, with this structure of your home based business, employee benefits are not directly deductible from business income.The second structure of your home based business to consider is a Partnership. In this structure of your home based business, you and at least one other person share ownership of the business. In this structure of your home based business, partnerships are easily established, but you need to make sure you have a Partnership Agreement drawn up. Also, by having more than one owner in this structure of your home based business, you can raise more capital. Some difficulties with this structure of your home based business is making sure you have a partnership with a person with complementary skills and a willing to compromise. Also, in this structure of your home based business, profits have to be shared and partners are liable for the actions of the other partners.Read the rest of the article here: The Structure of Your Home Based Business.Download the Free Quick Start Workbook (Value $97!) and receive valuable tips, strategies and techniques designed to grow a very successful Home Based Business.Copyright © Charles Fuchs is an established Six Figure Income earner and one of the top online marketer's. He specializes in helping people start their very own Work at Home and Home Based Business on the internet.I grant permission to publish this article, electronically or in print, as long as the bylines are included, with a live link, and the article is not changed in any way.
The,Structure,Your,Home,Based,