Home Based Business Deductions for Tax Season!

If you are currently in a home based business or network marketing opportunity, you will want to take advantage of all the home based business deductions and tax breaks that you can!

I highly recommend consulting your tax accountant on the exact information but here are a few home business tax tips that we can pass on to everyone...

And there are quite a few expenses that you can write off as business expenses if you are running your business out of your home.

You will need proof that you are actively working your business - you will need to show proof of income, advertising expenses, etc.

If you have a room set aside as a home business office, you can deduct a percentage of your heating, light bill, rent, etc... The way to find the right percentage is to compare the size of your office space to the rest of the house. Let's say your home office is about 10% the size of the total floor space then you can deduct 10% of your utilities.

On some things like your dsl, or phone bill, most of that will be considered business deductions, if you are using it solely for your business.

If you are a work at home Mom, you can hire your kids to do work for you and that is also a tax write off then. Hire them to take out the trash, clean up your office, go to the P.O. for you, etc. You will want to keep records of it all and pay the going rate. It will look a little suspicious if you are paying them a hundred bucks for an hour's worth of work!

Also keep a mileage log of whenever you run to the bank, get office supplies, etc as that ads up over the course of a year to a lot of miles that can be deducted as a home business tax expense.

With the huge advantages of home based business deductions, one can't afford to NOT be in a home based business of some sort!

For more information on home based business deductions business research

Viola is a successful business research and is helping others find true financial freedom as well!

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