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does anyone know federal laws on home basedbusinesses

like how much you need to spend and what is included

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Asked by Anonymous at 6:42 PM on Jul. 3, 2008 in Money & Work

Answers (4)
  • Home based businesses are largely regulated by state and local governments. A great resource for this type of info would be your local Chamber of Commerce.

    Answer by TrudyP at 2:00 PM on Jul. 4, 2008

  • I have a home biz. It is gives me great tax advantages, time and financial freedom.

    I have filed taxes 2 years with the biz and LOVE LOVE LOVE the write-offs. All legit.

    Not sure but there should be some people in the biz that you are looking at that can give you tax guidance (in general terms).

    You will more than likely pay start up fees and any expenses to operate your biz. If it is a biz requirement it should be a deductible item. There are no taxes withheld on your behalf so you will need to set appx 30-40% of your earnings aside in the event you need to pay taxes

    Answer by SFerber at 6:12 PM on Jul. 4, 2008

  • I feel the same way as sferber. Tupperware ROCKS and I LOVE the tax deductions. Tupperware doesn't take them out of my pay so I get a 1099 at the end of the year. Really it does rock.

    Good Luck, Amy

    Answer by rocamom at 6:37 PM on Jul. 5, 2008

  • You should read "Lower Your Taxes Big Time" (seriously that's the name) by Sandy Botkin, lots of good information.

    Answer by niseylee at 3:01 PM on Jul. 6, 2008

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