Dreading April?
If you are running a home business, it is important to remember that there are tax deductions for you when tax season rolls around. Of course, you do not want to try to fool the IRS (no one wants to run the risk of being audited!), but you do want to take advantage of those deductions that are rightfully yours. Running your own home business takes much of the same expenses, effort, time, space, equipment, and travel as any other business. Below are some home business tax deductions to remember as April is drawing near.
If you have a home office that is dedicated solely to your home business, you can add it to your list of home business deductions. The same goes for telephone charges, office supplies, furniture, software, subscriptions, and other equipment. Do not fear an audit for making these home business tax deductions as long as these items are used exclusively for your home business.
If your business requires you to leave your home office, you can add the cost of travel, mileage, meals, entertainment, and anything else that goes along with the cost of living on the road to your home business tax deductions. During the year, make sure...
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