In This Issue:
Video: Four Options for Choosing a Home Based Business
White Paper: Home Based Business Tax Deductions
White Paper: Time Management for Home Based Businesses
“In the beginners mind there are many possibilities. In the experts mind there are few.”
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Home Based Business Tax Deductions
A home based business provides numerous opportunities to convert personal non-deductible expenses into deductible business expenses. For many home based businesspeople, taking the home office deduction is a major financial incentive to start businesses in their home, and it can have a significant and positive effect on the home ased business’s financial position.
To qualify to deduct expenses for business use of your home, you must use part of your home:
- Exclusively and regularly as your principal place of business which means you must use a specific area of your home only for your trade or business. The a...
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Time Management for Home Based Businesses
Working from home may sound like fun, but what happens when the 1,000 distractions get in the way, or you're simply feeling unproductive? Your business is going to suffer. Here are six time management tips to ensure greater success:
1. Create a sustainable routine that signals the beginning and the end of the work day. A great example is a client that was a software coder. He would go to a local diner every morning to read the paper, eat breakfast, and interact with other folks. Then he would come home, code for seven hours, and when his wife got home from work they would take a walk, and that was the end of the workday -- no more coding until tomorrow. And no coding on the ...
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