Legitimate Home Based Businesses

Archive for August, 2010

Question: What kind of insurance do I need for a small home based online retail business?

I have a home based retail business that sells products online. I keep inventory in my home. What kind of insurance do I need? Does anyone know what the costing runs about?

Answer: You're probably not REQUIRED to have any, by anyone. But here are some possibilities: general liabiltiy, in case you get sued. Property, in case of fire or theft, that wipes out your inventory. ECommerce, for internet fraud/wire fraud.

Cost is going to vary wildy from $1500 a year for start up, to tens of thousands, depending on sales, type of materials sold, where you get them from, and where you store them.

You'll have to talk to a local agent to get specific quotes.

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Question: I'm planning on asking my grandfather to invest in my new business venture. Any advice?

I'm starting a home-based life and health insurance brokerage and I'll also offer wealth management services. My overhead will be low, but I want to invest some start-up capital in additional training for myself, as well as marketing my business. The main concern I have is that my grandpa invested $20k in my dad's failed business over 20 years ago, and it's made holiday gatherings very awkward. I plan on paying back the capital I need to start ($6500), but it may take 3 years or more if the business starts more slowly than I anticipate. 1) How should I go about requesting start-up funding?; and 2) If it's granted, how should I set up the repayment arrangement? As a loan, or should I give the investor a stake in the company? What are the legal ramifications of the latter since he is not licensed to sell life and health insurance (is it considered sharing commission if he receives income from the business)?

Answer: You should NEVER ask a family member to invest in your business. If he offers an investment, that's a different scenario. Why would you put your grandfather in the position of having to say "No" if he is uncomfortable with investing in your venture ?

Find your capital investment funding elsewhere and leave dear old Grand Dad out of the picture unless he makes an offer to assist you.

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Question: would the Usa vote for a Working man like me for president? www.myspace/toma365?

I want to run For 2008 President. Independant party! Normal average American. A real working man in office. No more back alley hand shake politics. No more pay offs by big business. Just your everyday hard working man doing whats best for his country. Let's lower prices of oil by pumping it out of our own wells here in the USA. Let' s take care of our sick, homeless, and elderly here first. socialized medicine only creates bad medical attention. let's try a government subsidized program. Something to force insurance and medical cost down also. Let's work on better ways to educate our children. Let's get those troops out of Iraq and back here at home. Let's start putting jobs back in America , and lower the amount of imported goods. There are many problems that have been promised to be fixed by politicians. It will take a working man like me to get them done. write in Thomas A. Adamczak. for Your next President.

Answer: don't waste your time! vote Dr.Paul 2008

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Ron Paul http://www.ronpaul2008.com/
American Independence and Sovereignty
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Congressman Ron Paul is the leading advocate for freedom in our nation’s capital. As a member of the U.S. House of Representatives, Dr. Paul tirelessly works for limited constitutional government, low taxes, free markets, and a return to sound monetary policies. He is known among his congressional colleagues and his constituents for his consistent voting record. Dr. Paul never votes for legislation unless the proposed measure is expressly authorized by the Constitution.In the words of former Treasury Secretary William Simon, Dr. Paul is the “one exception to the Gang of 535” on Capitol Hill.

http://www.ronpaulnation.com/tv.html...

Tax Write Offs For Your Home-Based Business