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.

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