Home Office Tax Deduction – A Key Advantage of Doing Business at Home
Saving on rent isn't the only advantage you’ll enjoy once you’ve discovered a profitable way of doing business at home. If you have the necessary license and papers to do business at home, you have the right to apply to the IRS as well for home office tax deductions.
Who and What Qualifies for Home Office Tax Deductions
Let’s talk about technical requirements later. For now, let’s concentrate on the who part: whether you’re the owner or you’re just leasing or renting the place you’re doing business in, you’re still eligible to apply for home office tax deductions.
Fortunately for all of us, the IRS isn’t very fussy when it comes to the definition of home. It can be anything between a home, apartment or condominium unit, or even a trailer; the important thing is that it’s a place where you can cook and sleep.
Requirements for Home Office Tax Deduction
All, not just some, but all requirements specified below must be complied if you wish to get home office tax deductions:
Regular and Exclusive Use of Home – You must use your house as your worksite in a continuous basis; secondly, the part which represents your worksite must be exclusively used for your home business. If your home office doubles as a study room, that will make you automatically ineligible for home office tax deductions.
Storage – Storing your products or inventory at home will also allow you to enjoy tax deductions just as long as you don’t have another warehouse outside home.
Principal Place of Business – Similarly, if you have another office outside home, you won’t be able to fulfill this particular requirement. Your home must be the only place where you conduct your business.
Tips for Claiming Home Office Tax Deductions
Don’t attempt to deceive the IRS. If you have another office outside home, the IRS will know about it sooner or later and then you’ll be in deeper trouble.
Always have your clients sign a log book whenever you meet them at home. This will serve as proof for the IRS that you’re indeed using your home as your business’ headquarters as well.
Warn your family and friends from trespassing in your business office. Explain to them the need to keep exclusive use of the room so that they won’t take your refusals to heart.
Lastly, separate as much as possible of your household accounts from your business expenses. If you’re able to apply for a business phone line, do so. If you can have a separate meter for your electricity installed, do so. Doing so will make yours and the IRS’ job easier.
* * * * * *
Sometimes, the demands of modern life seem to require an endless supply of energy. It’s hard enough just trying to squeeze everything in, then finding the energy to actually do everything presents a whole other obstacle. Are *YOU* low on natural energy?
When it comes to maintaining your good health, even when we try to eat well, we're still disadvantaged…
The nutritional content of most food has been compromised over the years, not only by deficient soils and modern production, transportation, storage and processing methods, but also by the enormous amounts of chemical and artificial substances added to promote growth, storage life, taste and appearance.
It's for this reason that more and more medical authorities are advocating the use of vitamin and mineral supplements. However, finding them in the right combination can be both confusing and costly.
The best nutrition products I know of make use of knowledge gained from the botanical world's 6,000 year history. They incorporated health building nutritional herbs with the best modern technology to help our bodies cleanse and detoxify so that the cells - the tiniest living units - can be as fully nourished as possible.
This allows the cells to grow, repair and to perform their functions with the best possible efficiency so that we feel and look better and are more able to prevent and fight disease. Once the body begins to clear itself of toxins it can more efficiently absorb nutrition.
You can learn more here about dealing with any specific health concerns you may have here at Your Health Online the A to Z directory of Health Problems & Self Care Strategies for natural remedies to your health issues.
Further reading through our articles on health issues will give you a body of information that will help you decide what options you have to improve your health and get dynamic energy through giving your body the nutrition products that will assist you body to heal from the inside out.
We wish you well in your search for alternative therapy health solutions and your movement towards better health in all areas.
When you would like to know more about any of the products discussed in this site, or to place your order with me, just complete the email form on my page CLICK HERE telling me what you would like me to assist you with.
BACK TO MY PAGE: Work from Home Health Business Opportunity
to “Your Health Success”
SITE DISCLAIMER: Do these products “cure” anything? Of course not… but it stands to reason that if you cleanse your body and feed it the finest nutrition available, giving it everything it needs in balance, on a daily basis, that your body will do what nature intended, and give you the best possible chance to fend off sickness and disease. This Health and Nutrition information is not presented by a medical practitioner and is for educational and informational purposes only. The Health and Nutrition Resources content is not intended to be a substitute for professional medical advice, diagnosis, or treatment.