17/04/2015
Is Entrepreneurship For You?
Starting your own business can be an exciting and rewarding experience. It can offer numerous advantages such as being your own boss, setting your own schedule and making a living doing something you enjoy. But, becoming a successful entrepreneur requires thorough planning, creativity and hard work.
If you are considering partnering with me as a referring or certified travel consultants, you can take advantage of the home base business common deductions.
If you use part of your home for business, you may be able to deduct expenses for the business use of your home. The home office deduction is available for homeowners and renters, and applies to all types of homes.
SOME HOME BASE BUSINESS COMMON DEDUCTIONS
Travel Expenses, Cell Phone, Computer, Meals & Entertainment, Home Office Space, Education and Training, Supplies and Products, Internet/Cable, Gifts, Hosting Fees, Vehicle Mileage (standard or actual), Vehicle (car note, oil change, tires, wipers, etc), Heating/Electric Expenses
Business vs. Hobby
Hobby
- Not for profit
- Involves personal recreation
Business
- In pursuit of a profit.
It would be wise to file your taxes with someone who specializes in preparing taxes for home base business.
http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Home-Office-Deduction
http://www.irs.gov/publications/p587/ar02.html