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Do I have to pay taxes if I run a home based business?
I am starting a small business out of my home. I am writing up a business plan and am trying to decide if I have to pay taxes on this business. I project that I will net $5,000 to $7,000 for my first year.

Asked by pilopez
Posted: Tuesday, September 04, 2007  |  Found in Home Business

More answers by Nina Kaufman
Answer by Nina Kaufman
Yes. Taxes are based on the amount and sources of income and the types of products or services sold, not the location of the business.
Nina L. Kaufman is an award-winning business attorney, author and speaker. For more than 15 years, she has successfully navigated thousands of small businesses through the legal hurdles they face in starting and running their companies. Under her AskTheBusinessLawyer.com brand, she reaches thousands of entrepreneurs and small business owners with her legal services, professional speaking, information products, and LexAppeal weekly ezine.

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