Want to more effectively compete with “the corporate big boys” and retail establishments? By adding the Limited Liability Company acronym “LLC” to the name of your home-based business, you can do exactly that. And you won’t have to change a thing except your business literature!
Think about the beauty of a home-based business: low overhead costs, time flexibility, working while the kids wrestle, making business phone calls in your jogging clothes, and, well, let’s face it—being your own boss! But do you sometimes find that others don’t really take your business seriously simply because you operate out of your home?
People are conditioned to think you must have a storefront, a business office, a manufacturing facility, or be listed on the New York Stock Exchange to be a legitimate business entity. Even though more and more people are choosing to work from home there is still a perception that “real” businesses lease space in an office building or strip mall. Perhaps doing one small thing could change how people see you and your home-based business.
Now, think about the beauty of a Limited Liability Company or LLC. The primary benefit to you in structuring your home-based business as an LLC is just that, limited liability. You gain peace of mind in knowing that you have limited personal liability for company obligations. Should hard economic times or a poor management decision threaten the company, you can have confidence that your personal assets are not at risk. This is not the case when operating as a sole proprietor.
Secondly, the tax benefits of a home-based business remain in place with an LLC. The IRS allows for pass-through taxation which means business income and expenses are reported on the owner’s personal tax return on Schedule C. You are still entitled to the deductions for a home office (when applicable) which is a major advantage to the home-based business owner.
And, finally, the LLC legal structure will enhance the image of your business. Your company name will now be followed by a legal designation which speaks to the unconscious mind of potential customers, business associates, and investors or lenders. You may even find yourself believing in the future and vision of your business more than ever before.
The degree of success of a business derives from many variables. Some are blatantly obvious while others are more subtle, even unnoticed on a conscious level. Overcoming people’s objections really involves finding out and overcoming their preconceived notions that prevent them from recognizing the benefit they receive from doing business with you. Presenting your home-based business as a legal entity is one weapon in your arsenal for accomplishing this.
Just think! In no time at all and with minimal cost, you could transform your home-based business into a tough competitor and secure the very home where you live and work at the same time. Now that sounds like a win-win situation. Who needs to be one of “the corporate big boys” when you can be an “LLC” instead?
Disclaimer: This article is for informational and entertainment purposes only, and should not be construed as legal advice on any subject matter.
About the Author
Melissa Gordon is the publisher of LegalBuffet.com, a complete online resource that compares the legal services offered by various online companies. Find the best company or LLC forms at http://legalbuffet.com/llc-services /.See Also:
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