Home business owners are a unique group of people. They’re the mavericks of the world, the ones with big ideas and the desires to make a difference in the world with that big idea. They have the know-how to get the job done, and the savvy to do it in a cost-efficient manner. Many, also, will attest to necessary expenses. Business owners simply cannot avoid some expenses. For example, all businesses need electricity. They must pay for the production of whatever they sell. And they must pay taxes. While every home business owner will agree that every business must pay taxes, not all agree on how to go about that process. Some believe they can save money by filing their own taxes. But the smart home business owner, the savvy ones that know how to cut the right kind of corners, understand the value of a CPA.
A good CPA will understand proper itemization. Did you know that you can deduct for your home office space? Do you know how to do that? A qualified CPA will understand what you can or cannot deduct on your tax forms. The CPA will also understand the necessary formula for figuring out how to deduct percentages. For example, let’s say that your house is 100...
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