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					      Part 2 of 5 On The Home
       Business Set-Up Guide
Dear Reader,

These articles will provide a step by step guide on how to start and run a
home based business based on my experiences and other home business
owners. This is part 2 in a series of 5 articles. They are written in a basic
format and where possible main points are summarised in an attempt to
be understood by all. I have tried to minimise the technical jargon as
much as possible.

So lets jump right in and see what we need to know about starting and
running a home based business.

Regards,
Alvin
http://www.parttimeincome.org

I publish Home Business Tips, a fresh and informative newsletter
dedicated to supporting people like YOU! If you're looking for the best
rated home business opportunities, latest time saving tools and helpful
support from a friend in the business, come by and a grab a F-R-E-E
subscription today at: http://www.parttimeincome.org

Legal Structures

The legal structure of your business is very important as it is a function
of liabilities and tax deduction. The most common structures are:

§ Sole trader
§ Partnership
§ Company
§ Trust

Sole Trader

When you are a sole trader you are personally responsible and liable for
the business and its activities. Commonly you may start out as a sole
trader, and as you expand, you will need to seek out partners or
investors. Your accountant is the best person to advise you if this is the
best structure for your business.

Partnership

This arrangement is where you and your partner are liable for anything
related to your business. It is a very good idea to get a solicitor to write
up a partnership agreement to avoid disputes down the track.

Company

This is a legal entity liable for the debts it incurs and paying tax on
income. Your accountant can help you set a company up, or you can buy
one off the shelf, which may be more cost effective.

				
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Description: Affiliate marketing for all