16 January 2011

Top 10 Home Business Tax Tips

San Francisco Chronicle
It is said so often that it has become a bit of a cliché, but one of the great virtues of starting a home business are the tax breaks you can claim. Another popular belief surrounding home businesses, however, is that claiming aggressive - and maybe slightly exaggerated - write-offs is a sure-fire way to attract IRS auditors. In this article, we'll look at some of the more popular home business write-offs as well as some tips on how you can legitimately claim them.

1. Keep a Business Journal
Being audited is not the end of the world. However, being audited and not having the records to back up your deductions can be a nightmare. The simplest way to avoid this unpleasant situation is to keep a daily log of your home business activities.

More here.

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1 Comments:

Anonymous Home Based Business said...

Thanks for the tips.
Starting a home based business is not easy. From your comfort zoning, there is always something that needs your sincere attention.
One of the activities of the business of home-based work in your pajamas option privileges, but your customers should be able to say that you just rolled out of bed. These are the things to be maintained during normal working hours and professional behavior when answering the phone or communicating with clients.

6/04/2011 01:56:00 AM  

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