It’s that time of year again. Nobody likes doing taxes, but they have to be done. If you own your own home based business, then you have tax advantages that people who only own jobs don’t have. Visit my increase earnings page to view a list of tax deductions you can take advantage of as a home based business owner. I put these tax write off examples on my increase earnings page because if you are properly writing off your legitimate expenses, this will increase the amount of income you get to keep from Uncle Sam. Remember, it’s highly advisable to consult a tax professional to make sure you aren’t breaking any laws.
You need to know what you can write off and how to keep track of your income and expenses. Just as a recap from the above link I gave you, I wanted to go ahead and list what tax deductions you should be looking out for.
Business Expenses to keep track off:
- Communication expenses
- Business meals/entertainment expenses
- Home office repair
- Business travel expenses
- Professional services/fees towards your business
- Business education expenses
- Advertising expenses
- Office utility expenses
- Office supply expenses
- Business membership expenses
- Business postal expenses
If you are a penny pincher like me, it’s good to keep track of these expenses with an Microsoft Excel file that you can customize to fit your needs. If you prefer a professional to take care of everything, then hire a personal accountant to log everything for you.
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Great post!
Thanks for sharing your insights! Home business is not easy as many may think. There are strings attached, just like any other business.
And remember…Success is not by chance, it’s by CHOICE!
To your success,
Genesis Pure Business Opportunity
A home based business opportunity is really great.. That’s why many people are venturing in online business opportunies.. and thinking about the tax benifits are one of the reasons why home based business opportunities are great. And I totally agre that we have to pay taxes even nobody likes it.. Great post..
Great post, loved it!
many awesome biz opps exist today , the best thing to do is find one that you are passionate about and get fired up about your dreams and go after them
Thanks for the great content. I’m always searching the net for content that will give me some new ideas for my own blogs and legitimate home business opportunities. Thanks for the great article.
Brad
Hi, I really liked your post. Your post is very useful and informative. Like you I have been in the making money niche for a while but I believe a talented writer like you is wasting time blogging!
Thanks for explaining those tax concerns I had.
I always learn something new
A flat tax of 11% of ALL Americans would bring in more money to the government that they are bringing in today – but of course we would tick off a ton of liberals who now reside in their parents’ basements. But at this point if something is not done to reign in spending and taxes we will all be living there.
insightful post
I found this blog on digg.com social bookmarking site. I liked it and gave you a fave! By the way I also really like your blog theme! Did you create it yourself or can I download it from somehwere?
Check the footer of this site for the theme author and downloading it.
Keep up the great writing.
Check the footer of the site for the blog theme.
Blogroll links aint that great 😉 but i am not the admin :-p ;p 😀 Just Telling ;-D ;-D