Tax Advantages in a Home Business-1

Every year, several thousand people develop an interest in "going into business". Many of these people have an idea, a product or a service they hope to promote into an income producing business which they can operate from their homes.

If you are one of these people, here are some practical thoughts to consider before hanging out the"Open-for-Business" sign.

In areas zoned "Residential Only" your proposed business could be illegal. In many areas, zoning restrictions rule out home business involving the coming and going of many customers, clients or employees. Many businesses that sell or even store any thing for sale on the premises also fall into this category.

Be sure to check with your zoning office to see how the ordinances in your particular area may affect your business plans. You may need a special permit to operate your business from your home; and you find that making small changes in your plan will put you into the position of meeting zoning stardards.

Many communities grant home occupation permits for businesses that involve typing, sewing and teaching, but turn thumbs down on requests from photographers, interior decorator and home-improvement businesses to be run from the home. And often, even if you are permitted to use your home for a given business, there will be restrictions that you may need to take into consideration. By all means, work with your zoning people, and save yourself time, trouble and dollars.