With the huge number of home based business you may be looking at for ideas, there are just as many scams which can entice you into thinking you will become a millionaire over night. So many people have lost thousands of dollars by unscrupulous companies and individuals who take advantage of unsuspecting participants. A legitimate work from home business is the topic of this article.
You may have received a plethora of emails from foreign companies or banks advising that you have won a lottery worth millions. Or you may have, through job banks, been sent emails offering you a position as an administrative assistant or data entry clerk with an untold fortune to be made. These are scams of the highest order.
In fact, the latter scam has been widely publicized and talked about among internet marketers and forums, where people visit for information on available jobs or finding a niche to begin a legitimate work from home business.
Here is how the scam operates. Let?s assume you are applying for a work at home position as a data entry clerk. You apply through legitimate online companies. Within a few days, you receive an email from a company stating you have all the qualifications to work for them. They tell you they have purchased merchandise in the US but the company with whom they made the purchase will not accept foreign currency. They then tell you they have to convert the money to US dollars. They send you thousands of dollars in their specific currency; you take it to your bank and convert it to US dollars; then send the money back to them. The commission is based upon the amount sent which, they claim, is in the thousands. If you ever receive an email like this, delete it immediately. This is not only a scam but is illegal and you can wind up in jail.
Indeed, while there are legitimate work at home businesses you can participate in, there are just as many companies who are illegitimate.
Therefore, when thinking of starting your own home-based business, there are several things you need to do to legitimize it. First, you have to obtain a Tax ID number. You can either do this online or via regular mail. This will allow you to use the Tax ID number instead of your social security number when applying for loans, grants, or if you are subcontracting work from others. In addition, talk to your accountant to ensure you are filing your returns as self-employed. While you may not make money the first year, at least you are established and setting the stage for future profit.
Having a legitimate work from home business, whether working for someone or starting your own encompasses knowing the rules of the game. Talk to people on forums who have their own businesses, and who can advise you every step of the way. Seek as much knowledge as possible by researching and using all of the online tools and resources available. Know who you are dealing with at all times. If it sounds too good to be true ? it probably is.