Legitimate Home Based Businesses

Archive for June, 2010

Question: If I use my home address as the registered address of an LLC I plan to start, does it put my home in jeapordy?

I plan to start an LLC and like the fact that there is limited liability in case of legal action. However, I wanted to use my home address as the LLC address (no business will actaully be done there, just billing and mailing etc). I would like to know that whether using my home as the business address causes any issues should there be legal action against the comapny? Any insight greatly appreciated.

Answer: All companies have assets, but only the assetts belonging to the company can be attached in legal action.
So if your business does not own your house, it can not be in jeaprody from your company.
It's like renting an office, a creditor cannot seize your landlords property for your debts.

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Question: Is owning a Home Based Business permit the same as having your business lic. i ask cuz i want a sellers permit

Answer: This depends on what city you live in. Sometimes a Home Based Business permit is a business license and a sellers permit. Most of the time, a Home Based Business permit just allows you to conduct business in the city at your home for a small fee. In some cities you'd need 3 different licenses, a home permit, a business license, and a sellers permit. The Home Business Permit could be used for most types of businesses, like consulting where you are not selling products. The Sellers Permit is usually granted by a State agency and is for selling products and requires you to report your sales and collect sales tax so that the government can take part of your hard earned money. You really need to look into what is required in your particular city because every city and state has different rules.

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