Thursday, April 21, 2011

The Legal Components of a Virtual Assistant Business

Thinking of putting up a virtual assistant business?

Then let’s talk about legalities. If you think that the virtual world and online businesses are free of legal obligations, then think again. Almost all countries and states requires that every business, whether online or offline must register to the government. This measure is for internal revenue purposes. Well, you know, the government.

Wrap up all legal and financial aspects of starting up before securing your first client.

Before you open the doors of your virtual assistant business, it is your duty to ensure that your business is working on legal grounds. To avoid future legal entanglements you must observe the following steps:

1. Find out what business licenses are required for your town or city and apply for them.

2. Determine whether you need a zoning permit to legally work from your home. If you do need a zoning permit, apply for one.

3. Choose your business name, ensuring that it is not already being used by another person or company, and register it with your town or state as required.

4. Choose your business entity – sole proprietorship, partnership, Limited Liability Company (LLC) or corporation – and register with your state.

If uncertain of what business entity you will register your business to, then you must consult it with your lawyer. The business entity that you choose will determine how you will be taxed in the future.

Starting up a virtual assistant business is somewhat difficult because of the legalities attached to it, but after wrapping up the legal matters, your business will be smooth sailing. And as long as you abide with the law you will remain to enjoy its protection.

Last words: Remember that the long arm of the law will always get to you.


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