| Let’s face it, very year millions of Americans are | | | | 1 – Home Business Expenses |
| over paying on their taxes and they don’t even | | | | Most of the expenses you incur while running your |
| realize it; their losing money by simple not obtaining all | | | | home business are tax deductable. Things like business |
| the appropriate tax deductions which are provided to | | | | stationery–pens, paper, printer ink, etc; phone lines, |
| them by good old Uncle Sam. In this article we are | | | | internet connection service charges, utility expenses, |
| going to cover how you can use your home business | | | | gasoline used for business, client meals, etc can be |
| as a way of acquiring the tax deductions you deserve. | | | | deductible. A big plus of keeping good records, is that |
| Before we begin, there is one fact you absolutely | | | | you can easily look back at these expenses and claim |
| need to know; if you plan on running a home business | | | | the deductions. |
| and want to be both successful and confident if the | | | | 2 – Business Equipment |
| IRS ever comes knocking at your door, you need to | | | | If you have a home business that uses equipment, you |
| keep detailed records on everything. A general rule | | | | can get a deduction for that. This means your business |
| when keeping records is to follow the “who, what, | | | | car (if exclusively used for business), any specialized |
| when, where, and for how much rule.” Keep these | | | | uniforms, fax machines, computers, diagnostic |
| kinds of records, along with receipts, and you’ll be | | | | equipment, etc can all be deducted. |
| less likely to have problems finding and presenting | | | | 3 – Home Office Business Deduction |
| information if you’re ever audited. A great way of | | | | This can be one of the bigger tax deductions, but if |
| maintaining records is to either create a simple | | | | you plan on claiming this deduction, you can only use |
| recording and filing system with files and folders or you | | | | your home office exclusively for your business. If |
| can purchase computer software which will make | | | | you’re using your office for anything other than for |
| your job easier. | | | | your home business, you cannot claim this deduction. |
| 3 Home Business Tax Deductions To Help You Save | | | | |