Take Care of Legal Responsibilities
A home business has the same legal requirements as any other business. You will still need a
business license, DBA, seller's permit, etc. You should never mix your business finances with your
personal finances. An effective recordkeeping system will have to be set up and you will need to
find an accounting professional who can help you to maximize your tax benefits and prepare your
final tax return. You will need a separate bank account and a business telephone. You will need
business insurance tailored to your products and services.
In other words, pretend that you have just opened business in a commercial location and do the
same things that you would have to do to get your business underway.
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