I have found, the more I do this, that the biggest danger to new home business owners is that many of these people really aren’t prepared to run their own business. I’m not even so much talking about the knowledge that they need to do so, though that’s a big part of it. I’m actually talking about certain laws and regulations that many people are not aware of. This article is going to touch on a few of these.

At the top of my list is taxes. I know a lot of you are going to say, “Well yeah, I know that.” Unfortunately, a lot of people don’t. Either that, or they don’t know what the tax threshold is. That’s how much money you can make before you have to declare your income. Some people are clueless in this area. The figure is going to be different depending on what country you live in, so check with the government agency where YOU live to find out when you have to declare your income. Failure to do this can land you in more trouble than you want to know.

But taxes are just the beginning of the problems. When you run a home business, you are dealing with other sites on the Internet. And each of these sites have their own rules and regulations, referred to as TOS. Most people don’t even bother to read these regulations, but they exist just the same. If you are going to use another site’s resources for your business, you MUST be aware of their TOS. If you are not and you break any of their regulations, you can find yourself banned from using the site’s resources or worse…depending on the site itself. In some cases, this can cost you a great deal of money.

Finally, there are general Internet laws such as email spam. I can’t believe how many people aren’t aware of the Can Spam Act. In a nutshell, you are not allowed to send unsolicited email to anybody unless they give you express permission to do so. And, you must include a way for them to stop getting these emails from you as well as contact information which includes either your home address or a business PO Box. Spam is a serious offense and people have been jailed for it.

Okay, got it? Before you dive into a home business, make sure you know what the rules and regulations are. Before you do anything, make sure it’s legal. You’d be surprised how many things some people do that are not legal and can get them into a ton of trouble.

Ignorance of the law is no excuse.

To YOUR Success

Steven Wagenheim

Looking for a solid 4 step plan to building your own business…FREE? Pick up my free report at http://www.stevewagenheim.com/4steps.html and get started TODAY!