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HOME BASED BUSINESS : 4 Myths About Home Based Business InformationThere are a ton of misleading information about home based business that adds to the complication of starting a new business. So what are these myths? Home Based Business Myth #1 You don't need to pay taxes if you sell online. This is one of the home based business myths that can get you in trouble. The last time I checked, a business whether online or offline is still part of the economy. So not paying taxes? Definitely will send the men from the IRS after you. Make sure to take advantage of the tax deductions though. Your home office can qualify if it is used "exclusively" and "regularly" for business use and is your principal place for business. Do more research or talk to your accountant about this. Home Based Business Myth #2 A home based business will make you incredibly rich overnight. Very few small business owners get incredibly wealthy immediately. However, if you play your cards right, you should be able to live very comfortably. The funny thing is to run a business out of your home really isn't about the money. Most people just want to be their own boss. Home based business can grow into successful business empires but you have to put in a lot of solid work. Sleeping in until half-past four just won't cut it. Home Based Business Myth #3 Home-based businesses have no overhead costs. Your overhead will definitely be a lot lower when you run a business out of your home but there is no such thing as absolutely no overhead. You need to purchase basic office equipment for your home based business. You may even need to install an extra phone line. Don't expect to set up your home based business for free. You will be getting your hopes up for nothing. Home Based Business Myth #4 You won't be able to separate your personal life. This is one of those home-based business myths that spurn away aspiring entrepreneurs. In reality, all it really takes is a little discipline. Make sure you have an home office that you will use for that purpose only. Make an effort to limit your business hours. Keep weekends for yourself and your family. Working at home won't exactly be a walk in the park, but entrepreneurship is about sacrifice and hard work. If you really truly believe in your business and your big idea, not being able to separate your personal life certainly won't stop you. by Donna Pacheco Apr 6, 2009 - http://inventorspot.com/articles/five_crazy_homebased_business_myths_25975 4 Myths About Home Based Business InformationThere are a ton of misleading information about home based business that adds to the complication of starting a new business. 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