Do you have a home-based business? If you are making money primarily from home (or your phone!), you likely do!
With the rise of direct sales opportunities, many people are working primarily from home now, which is great! This gives you more time with your family and cuts down on the cost of child care, among other benefits! Something the company may not tell you – or be able to tell you – is whether you need a business license to operate your business. This is usually determined at the city or county level and will vary depending on where you live, but it is important to know whether you need a business license, as you may end up owing substantial fines and penalties if you are required to have one and do not.
This is just one of many issues that arise in the context of a home-based business. Although it may not seem like a priority (especially in the beginning when you may be struggling to come up with your start up costs), the cost of hiring an attorney at the outset to ensure that your business is in compliance with all local, state, and federal (and IRS!) rules and regulations is well worth it. Finding yourself in violation of local business regulations, or worse, an IRS audit, will likely cost you significantly more than a legal review.
Contact Redmon Law Firm, P.C. today to learn more!