It really makes so much sense to start a business from home. Did you know 60% of new business startups are home based businesses? Home based business is a $427 billion a year industry! Time for you to get your share.
Some of the benefits you will enjoy when you start a business from home are obvious - the money you save on commuting alone is something to be considered. If you have children, you can keep all that money you spend on childcare in your own pocket (and actually be there to see your kids grow up).
The stress of both the commute and the job itself can be horrendous, and a huge percentage of people say that they are just plain exhausted with the whole hostile environment.
When you add to that the anxiety from the current economic conditions - wondering if your job will be next to be eliminated, and worrying about how you would support your family if you couldn’t find another job, you may start to see the big picture of why it is a very smart idea to start a business from home.
You would be wise to start a business from home in your spare time while you still have a job, so that if something happens unexpectedly, you will at least have a foundation started. If nothing bad happens, then you will have an extra source of income. That is also a good idea even if you just pay down your debts, or save the money you earn for ‘just in case’.
When you start a business from home, whether or not you still have your job outside the home, there are income tax benefits you can receive. The percentages will be slightly different, and of course more deductions are allowed if your business at home is your only source of income.
Some examples of the tax deductions you might enjoy are that you can deduct a percentage of your costs for your home office - % of rent, utilities, phone, and home insurance.
You can deduct your office expenses such as computer, Internet connection, advertising, and office supplies (printer ink, paper, etc). There are many more possibilities you could discuss with your tax professional, so be sure to save all your receipts when you start a business from home.
Visit http://www.OnlineProfitsWork.com
to learn how you can start your own home business earning multiple streams of income.
