Virtual Assistant

Telecommute

Data Entry

Mystery Shopping

Direct Sale

Affiliate Marketing

Write blogs,Articles

Ebay Store

Drop Shipping

Build Your Own Website

Classified Ads

Generate Traffic

Blogs and Forums

Offline Promotion

Greeting Cake Company

Just Jewelry

Shaklee

Simply Fun

Simply Satisfying Soap

Tastefully Simple

Once you have decided that which business is good for you, you have to move to the next steps of setting it up. Follow these simple steps to set up your business:
You have to first decide the name for your company. This name should be unique (you cannot give the name say: Microsot or Target etc.) and there are naming rules which differ according to different states. To find a unique name for your business go to your states website and find the name that is unique. There are some paid services also that do it for you. But a little research on your end, could save you some money. For e.g. for Alaska state go to google.com do this search: "company name availability ak" In the results you can click on : http://www.commerce.state.ak.us/occ/register.html Its always better to click on the state links in the search results that come from google. The state links will have at the end .gov or .us For e.g.ny.gov etc. For NY this is the link: http://appsext8.dos.state.ny.us/corp_public/corpsearch.entity_search_entry You can also visit or call the state office and get more information.
You have to then decide under which type of company are you going to operate the business. You can talk with a Tax Consultant to decide this or the easiest way would be to start as a Sole Proprietor. You have the following options: This is the easiest way to start your business and there is no need to fill any legal forms.You must file DBA if you are using different name for business other than your own name.Filing a DBA will also help you to open a business checking account in a bank and to lend money from any institute. You can use your own social security number for the business and will be able to deduct all the business expenses. Only problem of sole proprietorship is that they make you personally liable for any debts incurred while doing business. The corporation is a separate and distinct legal entity apart from the owners of the business. As a separate legal entity, a corporation is responsible for its own debts.If the corporation suffers losses, the corporation itself must bear those losses to the extent of its own resources, and not the personal assets of the individual shareholders. Thus, the corporation protects the owner of a business against personal liability. The owner can chose any name which must be unique.Additionally, "Inc", "Co", "Incorporati on", "Corporation", "Company", "Limited", or "LTD" must follow the corporate name. C Corporation: the corporation is first subject to tax at the corporate level, and then any profits (or dividends) the corporation distributes to the shareholders are subject to tax as well. the profit or losses pass through the entity directly to the ownership (shareholders) level.Shareholder can be a foreign citizen. S Corporation: This is the most common type of small business corporation.In this the profit or losses pass through the entity directly to the ownership (shareholders) level. Number of Shareholders is limited to 75.Shareholder MUST be a US citizen. An LLC or a Limited Liability Company is a separate legal entity (business structure) from the owners of the LLC.It is less expensive to set up than corporation. An LLC is frequently referred to as a hybrid of a corporation and a partnership. The members of a limited liability company are shielded from personal liability and profits and losses may pass directly to the members without taxation of the LLC itself. An LLC is similar to a corporation because it has a) limited liability; b) free transferability c) continuity; d) centralized management Most states require a registered agent. A registered agent is responsible for receiving any legal documentation on behalf of the corporation. Visit Incorporations & LLC's for all the necessary procedures. YOU can act as your own registered agent as long as your address is within the state that you are incorporating in.
Get an EIN that way you don't have to give out your personal social security number. Buy a business license in your city/county/state whatever is required where you live. http://www.irs.gov/businesses/index.html Each year you have to submit your business taxes.Keep in mind these few things and your tax return wiil be easy. To keep track of your income and expenses, you can make excel spreadsheet if you are computer person or your can buy a record book,ledger book from the store.I will suggest both as it is safe to keep 2 records.Keep all the recipts for all the income and expenses.

Expenses

• starter kits,memebership fees,promotional materials like business cards,website hosting and domain fees.
• Equipments like computer,printer,fax,scanner,tabel,chairs,display items,stationery etc.
• If you are using space in your home for business purposes, you will be able to deduct some part of utilities like internet,phone bills,electricity,gas etc.Keep all the utility bills in one folder
• You can also keep track of your milege, whenever you go out only for business purpose,write down your begining and ending mileage.
• If there are any entertainment expenses like client/customer lunch/dinner meetings,show tickets,movie tickets keep all the records of these expenses
• If your family is working for you in the business, keep the record of salaries that you pay to them.

Income

• Keep record of all the income that you get by paypal,checks,cash,credit cards.

Get liablity insurance in case if you get sick and cannot perform work you've been paid for, the insurance will help. If possible find someone that you can outsource to in case you get sick.