| you been considering starting your own business | | | | can really make sense. Home Based Businesses |
| and working from home? The advantages of | | | | receive numerous tax advantages. Most of the |
| working from home and starting your own | | | | time, any expenses that are related to your |
| business are great. Not only will you be able to | | | | business can be added as a deduction on your |
| stay at home with your children, and be your | | | | taxes. Some of the deductions you can take on |
| own boss (who doesn't love that), but there are | | | | your tax return include: |
| many tax deductions that can make a home | | | | 1. Start up Costs - This includes your initial |
| based business opportunity very appealing to | | | | investment in your business. If you are starting in |
| moms (and dads) everywhere. | | | | a direct sales business, this would be your start |
| Save on Daycare | | | | up kit and any promotional supplies. |
| Quite possibly the best reason for being a work | | | | 2. Business Supplies - Anything you buy and use |
| at home mom is actually being able to stay at | | | | for your business. Business Cards, paper, pens, |
| home with your children. This is truly a rewarding | | | | etc. |
| thing, and might be your main reason to start a | | | | 3. Computer - If you purchased a computer to |
| home based business. Just the fact that knowing | | | | use solely for business purposes this can be |
| where your kids are, and knowing they are in the | | | | deducted as well. |
| best hands (yours of course), gives you total | | | | 4. Internet Access/ Web Services - You internet |
| peace of mind. This in itself is priceless. | | | | connection service and any services such as web |
| On the financial side this is also a plus. Daycare | | | | hosting, and domain names. |
| costs are outrageous now a days, and even | | | | 5. Phone Line - This would be a home phone line |
| more so if you have multiple children that are not | | | | used solely for business. This also includes long |
| yet in school. The money you'll save on daycare | | | | distance calls. Make sure to keep all phone bills for |
| alone can offset the costs of starting your own | | | | your records. |
| home business. | | | | 6. Advertising - Anything you do to advertise |
| Be your own Boss | | | | your business, whether it is online or off. |
| Being your own boss lets you make your own | | | | 7. Automobile Mileage - All your business traveling |
| schedule, and set your own guidelines. Don't want | | | | expenses can also be deducted. This would include |
| to start working until noon? No problem! As long | | | | your gas mileage to and from events such as |
| as you have focus, and can get the work you | | | | home parties. Make sure to keep a detailed |
| need to get done, it doesn't matter when you do | | | | account of this as well. |
| it. You are in total control of you business, and | | | | The only rule to this is you MUST treat your |
| how you want to run it, and that is a great | | | | business like a business, and not a hobby. This is |
| feeling. | | | | something you should be doing anyway and is one |
| No More Daily Commute | | | | of the first rules in becoming successful. The next |
| Ahhh! How great it would be not to have to try | | | | main thing you MUST do is keep good |
| to beat rush hour traffic? With the rising gas | | | | documentation of all expenses. This would include |
| prices today this can add up to a big savings. On | | | | all receipts, credit card and billing statements, and |
| another note, think of all the money you will also | | | | a written log on how the money was spent on |
| save on business attire. Working in your pajamas | | | | your business. Just spending a few minutes a day |
| is a lot better than a business suit. | | | | keeping track of your business expenses can |
| Tax Benefits | | | | save you an estimated $2,000-$10,000 a year on |
| When tax time comes having your own business | | | | taxes! |