It seems like more and more military spouse professionals are opting to go freelance. And it does look like a practical choice given that 55 million Americans are freelancing (35% of the US workforce). But starting a business isn’t all glitz and glam. While working from home may offer flexibility, few people take into account the cost of running a business.

Business expenses can add up quick, so it’s important to know what you’re getting into and properly prepare. If done right, though, freelance work can be a great option for dual income military families who want flexibility and a stable income during frequent moves.

And right now, for a limited time only, the National Military Family Association (NMFA) is investing in military spouse owned businesses! Awards average $1,000 and can be used to fund expenses like registration fees, office supplies, professional development and more. You simply need to answer a short questionnaire to be considered and have a valid military ID card to be eligible. Applications accepted through January 15, 2017, at www.militaryfamily.org.

But, before you decide a freelance career is right for you, here is a list of estimated expenses you’ll likely incur.

REGISTERING YOUR BUSINESS — $100 – $1,000+

First, you’ll need to decide what type of business you want. Freelancers typically choose Sole Proprietor, Limited Liability Corporation (LLC), or S-Corp. Legally some offer more protection than others, so do your research. Be prepared to incur several fees and check out Rocket Lawyer for affordable legal support.

Hint: Registering military spouse-owned business is more complicated. For LLCs or S-Corps, look into establishing as a foreign entity in Delaware to avoid re-registering your business every time you move.

OFFICE SUPPLIES — $200 – $2,000

You will need office space plus professional equipment. Some of the basics include a desk, chair, computer, and printer. Depending on what you already own, these items can add up quick. A desk alone can range from $50 at Goodwill to $1,000+ online. Make a budget and then go shopping.

HOME EXPENSES — $100 – $500/Month

Now that you’re working from home your utilities will probably increase. It costs money to keep the lights on all day and the heat/air conditioning running. Make sure to factor these expenses into your monthly bill and budget to help cover the costs. Document your payments for a tax write-off at the end of the year.

COMPUTER SOFTWARE/SUBSCRIPTIONS — $8 – $100/Month

Depending on the type of services offered, you may need to invest in professional software like Adobe Creative Cloud, Dropbox, Basecamp, MailChimp, and Cloud Storage.

BRANDING — $500 – $2,000

Freelancers are responsible for promoting themselves. A website or online portfolio is a must. Start by purchasing your domain name from HostGator, GoDaddy, or another common site. Squarespace is an affordable way to host a cool website. Or you can hire a developer to customize a site, but these usually start at a minimum of $1,000. Consider hiring a professional designer to create a branding package for your business that includes a color scheme, logo, and businesses cards.

ACCOUNTANT — $400+

Freelancers can earn significant tax breaks; however, you have to know how to get them. Hiring a professional accountant may sound expensive, but they can save you a lot of money, plus give you peace of mind during tax season. Keep yourself organized throughout the year with a cloud-based accounting software like Quickbooks, Freshbooks, or Wave.

INSURANCE — $20/Month+

Luckily as military spouses, health insurance is covered, saving you upwards of $5,000 per year. But there are other types of insurance you may want to consider like LLC insurance and disability insurance. These may not be necessary but are worth checking out.

EDUCATION/PROFESSIONAL DEVELOPMENT — $100 – $1,000

Lastly, you’ll want to stay relevant. Or maybe you’ll want to learn a new skill to add to your professional repertoire like copywriting, design, coding, social media or project management. There are several excellent online programs, but they aren’t cheap. Plan and budget for the courses that will serve you best.

Take a minute to soak this information in, but don’t panic. As a freelancer, you’re  in charge of your income. That means you can set your prices to accommodate these expenses. If you budget and plan accordingly, you’ll be just fine.

In the meantime, take advantage of the NMFA military spouse scholarship. As you can see, an extra $1,000 will come in handy.