[Fern]

Pros: Write off various expenses, such as divajen outlined above.
Cons: Self-employment tax is very high.
Cons: You will pay more for health insurance, ESPECIALLY if you have a pre-existing conditon that requires treatment or meds.

Pros: You save on commuting cost (gasoline and car wear and tear and even car insurance which is higher depending on average # of miles driven daily)

Less stress from commuting

More time for doing other things

Cons: If your service/product is considered taxable by your state tax commissionS, you'll have to start filing state tax forms You'll also have to file quarterly income tax payments for both state and federal. More paperwork is a headache.

Cons: In CT at least, if you want to make claim to your own business name,which you purchase online with feds, your town will find out about it and begin to tax you for the home-based business.