Archive for April, 2011
Change Your Life With A Home Based Network Marketing Business
The economic news sure has had a great deal of doom and gloom. The unemployment rate has skyrocketed over the last 2 years. Even those of us who may still be employed, it can be a little unsettling to bear the possibility of losing a job at any time, or making less money. While there are steps that you can take to make yourself indispensible at your job, there still is much about the economy that is out of your control. So, what is your best option to survive in this economic downturn? Have you considered how you could change your life with a home based network marketing business?
There are millions of people that have built very successful home-based-businesses. Most people start out part time and stay part time to supplement their income while others have built their business full time. Some of the top advantages of a home based business include:
Tags: doom and gloom, economic downturn, home based network marketing, losing a job, network marketing business, office expenses, organization benefits, successful home based businesses, travel office, unemployment rate
Tax Advantages of a Home Based Business
To be eligible for business related deductions, you must use that part of your home claimed exclusively and regularly as the principal location of your business. You can calculate what percentage of the house is used for business, either by number of rooms or by area in square footage. If you use one of five rooms for your business, the business portion is 20 percent. If you run your business out of a room that’s 10 by 12 feet, and the total area of your home is 1,200 square feet, the business space factor is 10 percent. If you’re a renter, you can deduct the part of your rent, which is attributable to the business share of your house or apartment.
You can write off the transportation expense of getting to and from your clients’ places of business and other business related transportation costs. You will want to record the odometer mileage of your car before and after your trip to determine the number of miles traveled. “detailed records are critical”
Tags: home office deduction, internet service provider, irs audit, irs guidelines, irs website, odometer mileage, principal location, provider fees, space factor, www irs gov