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| Starting a business from home (a small business from home) is a great oportunity. Before You start a working from home business read this report, how to start a business from home.
Starting and Managing a Business From Your HomeWorker's Compensation--if you have employeesBusiness Interruption Insurance or Earnings Insurance--in case your business is damaged by fire or some other cause and you must totally or partially suspend operationsDisability Income Protection--a form of health insurance in case you become disabled Business Life Insurance--to provide funds for transition if you dieBe sure to keep all your insurance records and policies in a safe place--either with your accountant or in a safe deposit box. If you keep them at home for convenience sake, then give your policy numbers and insurance company names to your accountant or lawyer or put it in your safe deposit box.Final advice for the wise business person is to read and understand the fine print in all policies and to reevaluate business insurance needs about every six months. Other ConsiderationsAnother aspect of planning is sheltering tax dollars through a Keogh Plan or corporate pension and profit-sharing plans, if your business is incorporated, or a retirement plan.If you have a partnership, consider making a Buy and Sell Agreement with your partner(s). This agreement requires the surviving partner(s) to buy, and the heirs to sell, the deceased partner's interest. The surviving partner(s) then becomes the sole owner(s) and the heirs receive cash for their share of the business.
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