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  • Friday, Feb 9th, 2007 at 4:22 am
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  • Home Business
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Things to Keep In Mind When Earning Extra Income

February 9th, 2007 by

Additional income is to the American Dream what apple pie is to America – an
essential. Yet sometimes it is possible work hard to earn extra income only
to realize that you are putting yourself and your assets in danger of
serious repercussions. Of course, with a bit of know how and finesse it is
possible to avoid these problems, but there are some things you need to keep
in mind when earning extra income:

First and foremost, is your location suitable to the business you have in
mind? If, for example, you are thinking of doing some part time catering for
weekend events and private parties, you will want to make sure that your
kitchen is up to the challenge. Is it big enough? Is it sanitary? If you
have pets, will you be able to keep them out of the kitchen while you are
working on the menu? Additionally, are you well versed in proper food
preparation techniques that will ensure that you observe all the rules and
regulations with respect to food safety, temperature control, and also
transport for the food items? There is nothing worse than having whole
parties come down with food related illnesses that can be traced back to
you. Not only is this a great embarrassment, but it also may spawn lawsuits
that might cause you to lose you home and any other asset you have.

Will you need permits or licenses? While earning extra income may seem like
small potatoes it is still important to keep up with the necessary
legalities. For example, if you are planning to open a family daycare, you
do not have to have a license, but if your home is part and parcel of a
covenant controlled community, or if you rent your home, then odds are good
that you need to get permission from the owner or the board of directors for
the homeowners’ association before hanging out a shingle and earning extra
income in your home. In many cases these permits are hard to come by and it
is not surprising to find that those who attempt to skirt around the issue
of permit will suddenly find themselves on the receiving end of letters
threatening fines if they persist in conducting business without permission.
This is one of the occasions where it is not easier to ask forgiveness than
permission!

Last but not least, do you have enough disposable income to make earning
extra money a possibility? Do you have a computer system that is up to the
challenge of doing the kind of work you are contemplating, or do you need to
invest in some new equipment? If the latte is the case, make sure you are
not racking up the credit cards so as to make a bit of income, but instead
save up before you get ready to take on that work at home job.

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