This content has been marked as final. Show 6 replies
Home office question. Do you have an accountant??
Today, technology makes it easy for anyone to start and run a
business from home. Before you invest time and effort in a home-based
activity, make sure you understand legal and tax aspects.
Deciding to work from home
Starting and running a business from home can provide many personal and
financial benefits: You can see to family responsibilities (e.g., child
or parent care) while making money from your business. You eliminate
commuting, saving you time and money. And you avoid costly overhead for
commercial space (you're already paying the costs for your home). But
don't assume that running a business from home is for everyone.
- Make sure you have adequate space to accommodate your business \\ activities (including a storage area for inventory if you're selling \\ products). You need a separate area for business-not only to work \\ effectively but also to claim a home office deduction (explained below).
- Be prepared to give up some privacy if the nature of your business \\ entails having customers come to your residence.
- And, unless you live alone, make sure your family or roommates will \\ cooperate to give you the space and quiet you need for business.
Keeping it legal
Even though you're in your personal dwelling, you still need to comply
with local, state, and federal rules when you run a business there.
Good luck <!--Session data-->
"Businesses normally require a physical office."
What type of business are you referring to?
I have worked out of a home office for four years. Every time I think about getting a "traditional" office I consider:
- does it really hep my business or do I want the "prestige"
My business is primarily "consulting base" and my clients are national. I am sure having an "office" would help perception but for me, it is not worth the cost.
You could look into executive office suites - where you rent an office in a building and share a receptionist, conferences room(s) and kitchen area with other tennants. This can be a cost effective alternative to getting your own office.
Best of luck,
It really depends on what you are offering. Many home based product companies just take orders and ship products while home-based service businesses usually go out to a location. There are a few that actually use their homes to meet clients face-to-face like home-based accountants and the likes.
Using your home is a great way to keep costs down. Have you thought of searching out other locations in your area that you could meet clients - like restaurants, convention centers, hotel lobbies, etc. There may be other businesses that will allow you to meet clients at their location and in some larger cities - there are companies that offer office space and meeting rooms for people just like you - space that you could lease for an hour or a day or as you need.
Business Money Today
There are also virtual offices that might work for you. These are spaces that are shared by several businesses thus keeping costs down.
Just google virtual office and your location - see what turns up.
Business junkie .org
If your main concern is having client in your home then you should consider that I've worked out of my home for two years now with clients all over the world and several local ones too and have yet to have a single person visit my residence. The only face to face meeting I have I set up as "lunches" thereby eliminating the need to have clients in my living room. It will depend upon your business but more than likely you will be in the same boat as me, so make sure you don't use ad copy like visit me anytime at "your address" etc. and you will most likely not need to worry about it. Heck throw in a little copy line like "all meetings must be prescheduled for your convience" somewhere and you have even less chance of answering the door in your underwear and finding out it's a big client.
it depends on your business. If we're talking about a small business, then I don't believe this is a huge minus to your branding strategy, given the differences in cost between a home-based office and a regular one.