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Home-Based Business Tax Benefits of Your Own Dollar Store

One of the biggest advantages of working from home, other than going to work in PJs and bunny slippers, is the tax benefits you can enjoy by operating a home-based business.

Working from home allows you to deduct percentages of your monthly bills that you are already paying. For example, a portion of your utilities, home mortgage and maintenance, and even maintaining your car can all be considered deductible expenses with a home-based business.

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Now remember, you can only deduct your home’s expenses if you actually work in your home. To take the “office in the home" tax deduction, you need to establish a separate and distinguishable portion of your home that is used only for your business. It is not necessary that your home-based business be a full-time endeavor, however, your office cannot double as your family room. It has to be used solely for your business.

The most commonly used method to calculate a tax deduction for the business use of your home is square footage. Figure out how big your home office’s room is in proportion to your house, and you can deduct expenses using that percentage. For example, if your home office takes up 5% of your house, then you can deduct 5% of your utilities. You can deduct items such as the interest on your mortgage interest, but not your mortgage itself. You can also claim deductions on your telephone, insurance, and expenses for maintenance, repair and improvements.

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If your home-based business requires Internet use, you can deduct a portion of your monthly Internet connectivity charges. But remember the rule of thumb - the deduction can only be in proportion to the amount of time it is used for your business. If your Internet account is only used for your home-based business, then you can deduct the entire expense. But if the kids use it for homework or your husband likes to get online to play poker or look for motorcycles, only a portion can be claimed.

The tax benefits of owning your own home-based business can actually be considered additional income, as you get to deduct things that you would otherwise be paying in full.

So if you are considering a starting business from the comfort of your home, be sure to check with your accountant about some of the fantastic money-saving tax benefits you can qualify for.

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Resources

 - Check out Jack Humphrey’s Content Desk and Content Propulsion Lab, 

for “Do It Yourself”  companies who would love the benefits of easy

step-by-step content site building, monetizing and promoting

systems for the best ROI, and high-end Public Relations firms

with low-end budgets, online at http://www.ContentLabInfo.com   

and http://www.ContentDeskInfo.com   .

 - For a super profit system, head to SEO (search engine optimization)

expert Keith Baxter’s Easy Net Marketing (EAN) Profit System at

http://bplansite.com . The program has only about a one- to two-hour

learning curve to get all set up and going.

 -  Learn how to write with good correspondence courses like

those offered by the American Writers & Artists Institute;

many are described here:

http://presssuccess.com/specialty.html

So consider the importance of your content and articles in
the marketplace. The more people stick around for awhile to
read through your information, the more who will want to
return and share your site with others!

 

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Article market about eBay! Learn more & stay informed! Sign up for our auto series below:
(we keep email addresses confidential, too, no sharing, selling, etc.)

 - eBay Cash Machine http://ebaycash.webmarketteam.com

 - eBay For Dummies http://ebay4dumm.webmarketteam.com

 - Auction Resource Network http://ebay.webmarketteam.com
(loads of back-to-basics info here to save in a file)

Go get 'em! See ya round eBay

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Brough to you by:

By Diana Barnum, president of
http://movingaheadcommunications.com  .
Grab tons of freebies, tips and help at
http://OhioHelpGroup.com or
call: (614) 529-9459. Freebies section at
http://presssuccess.com/bookstore 

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Yes, you can make money on eBay, good money. But, it will NOT happen overnight and you do need a plan. Get an entire blueprint and even the tools the author uses every day to create success selling on eBay.

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