By Linda Pinson
18 Steps for beginning Your Business
Begin this present day! construct a enterprise! safe your future!
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Extra info for 18 Steps for Starting Your Business
6. Separate Structure: You can deduct expenses (subject to the deduction limit) for a separate free-standing structure, such as a studio, garage, or barn, if you use it exclusively and regularly for your business. The structure does not have to be your principal place of business or a place where you meet patients, clients, or customers. ” Flowchart On page 45 you will find a flow chart that will help you to determine if you will qualify for a home office deduction. IRS Form 8829: Expenses for Business Use of Your Home For your convenience, you can see a filled-in example of the IRS form that is used to report deductions for business use of your home on page 46.
Table of Contents Index Chapter 5 / Decide on Your Business Location 33 Wholesalers and Manufacturers Wholesalers and manufacturers sell their products in bulk (at a discount) to retailers who in turn sell those products to their customers. Therefore, location would not be driven by the consumer market. Following are some of the questions that you would most likely ask yourself before making your decision. • • • • • • How much square footage will my business require? What are the choices available that will work for my business?
Fifty years ago, almost every business was operated out of a commercial location. Skip forward to today’s world of technology and the scenario is very different. In the first chapter of this book, you were encouraged to think about your own skills and interests and make a decision as to what kind of business you would like to go into. You also had to decide on whether you would start a new business, buy an existing business, or purchase a franchise. Once that decision has been made, it is time for you to choose a location (or base of operation) for your business.
18 Steps for Starting Your Business by Linda Pinson