According to Forbes, more than 52{038fb2ef5c1b7aeaab104e24389b2fd3cf34e6bad75a3e48d47ab0d8cb499c83} of all small businesses in the U.S. are home based. A sole proprietorship is when you operate your own business without a formal legal entity such as a corporation (Inc.) or (LLC). The ne thing that both these types of home business owners have in common is that old saying ‘If you fail to plan, you plan to fail’. This business idea does not require any upfront investment and results in a pretty good income if you carry out the job with perfection.
By adding an endorsement to your primary residence policy as owner, tenant or co-owner, we can provide you with the necessary guarantees to cover your small home-based business. The mortgage or the lease you pay on the portion of your home you exclusively use for your home business is tax deductible as an expense. Creating your own best home business in …
