Tax time can be one of the most anticipated periods of the year. After the holidays have become a memory and before the fun of summer begins, we must devote several hours of our lives to completing this project. This can be especially challenging for the home based business owner. There are several deductions that are available for the work from home individual. These ideas can help reduce your tax burden.
1) Accountant Costs
If you use the services of an accountant, these costs are totally deductible for a work at home business.
2) Advertising Costs
Any amount of money that is spent to advertise an internet business is tax deductible. Business cards, flyers, newspaper ads, internet ads, etc.
3) Bank Fees
All of the bank costs incurred to run a home business are tax deductible.
4) Research And Training Materials
Any educational materials purchased to increase your expertise for developing, maintaining and improving a home based business are a tax deduction. This includes software and E-books.
5) Internet Service Provider
Keep a log of the business hours spent online and personal time on the internet. The...
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