The Professionals Who Help Your Home Business

A Home Business Article Contributed by Jenni Mckinney

The Professionals Who Help Your Home Business: a Lawyer

If you are thinking about or have recently started a home business, it is imperative to your success that you retain a lawyer. First, a lawyer can explain and help you decide which type of legal entity with which to structure your home business, including a sole proprietorship, a partnership, a corporation, an S corporation, or a limited liability corporation.

Next, a lawyer can give you advice on what to name your small business and how to go about getting trademarks for your business name and logo. Third, a lawyer can advise and direct you on the pros and cons of having independent contractors or employees working for you. Fourth, a lawyer is necessary to help you draw up a multitude of legal documents, including late notices, contracts, and advertising materials.

Finally, a lawyer is the professional you need to help you consider the legal implications involved in franchising, licensing, etc.

The Professionals Who Help Your Home Business: an Accountant

Also known as a CPA, the accountant is a necessary member of any home business, unless you are skilled in this area yourself. For a small account, your accountant is also your bookkeeper, and can help you design and set up a bookkeeping or record keeping database or system. You can have your bookkeeper come to your home business on a regular basis, every week, month, or other period, and do some data entry and make sure your accounting files are up to par.

Your accountant will also be able to advise you on current tax laws and what types of tax benefits your business can take advantage of. Your accountant will also be available to evaluate your home office and determine if it meets all of the requirements of the IRS in order to pass any audits that may come up. And if an audit does come up, your accountant will the be professional you will want by your side at all times.

The Professionals Who Help Your Home Business: an Insurance Agent

To be in business, you will need a certain amount of insurance. It is certain that every business will need to take out a General Liability policy to cover the basics, but it is also probable that your home business will need several more policies in addition.

Your insurance agent is the professional you will need to assist you with the types of policies your home business needs, and may suggest that you get Professional Liability if you plan to offer services as a subcontractor, or Products Liability if your home business produces goods, or Commercial Auto liability if you use a vehicle for business use, or Workers Compensation coverage if you have any employees.

In addition, your insurance agent will be able to direct you on getting additional homeowner's coverage for any specialized equipment that you will be using in your home business. Finally, your insurance agent is needed to help you find a good health insurance policy that you can afford.