With the end of the year coming up, it's the time when individuals will begin thinking about starting their own business out of their own home. This is a decision that they could be making for any reason. Regardless of the reason, there are a few simple rules that should be followed in order to ensure that you're completely protected when you start your business.
Here are three tips to make note of when it comes to keeping your home business legal.
Make sure that you take the time to obtain a tax ID. This is also commonly referred to as an EIN, and these are often issued by the IRS. It is more professional and safe to have one of these for your business rather than using your Social Security number. Furthermore, a tax ID is also required if you wish to make your business either a Corporation or LLC.
Proper licenses and permits
Any home-based business owner will be required to obtain all of the proper licenses and permits. It's important to take care of this as soon as possible instead of waiting until after you start your business. This is because if you choose to wait, you could find yourself having to deal with penalties or back payments as a result of ignoring the rules.
Naming your business
If you plan on naming your business, make sure you conduct research beforehand in order to ensure that the name you select won't violate any local or national trademarks. If you determine that someone else is using the name that you want, you could consider paying a service for a comprehensive name search in order to ensure that you won't be infringing on someone else's trademark.
Making Your Business Legal Workshop
DATE & TIME: November 15, 2019, 10:00am CST
Address: Georgetown Event Center
1 Chamber Way
Georgetown, TX, 78626
Darin Siefkes will introduce you to the legal issues of forming a business including picking the right entity, trademark issues, contracts, ethics, and how to hire a professional.