There are so many advantages of starting a home-based business, and below are the top ten reasons to think about becoming your own boss and seeing the potential of working from home.
10 Advantages Of Starting A Home-Based Business
Setting your work schedule around your family’s activities is what makes the job so much fun! You get to pick the times that you work vs. being told when you must work.
Tax deductions for expenses you already incur
You already have a phone bill and internet that you were using prior. Since you are using these items with your home-based business, you can deduct a percentage of your bills.
Part-time or Full-time you decide
A quote that you should always think about is, “You can work this business part-time or full-time, but not in your spare time.”
Tax deductions for traveling
Sell your product while visiting friends and family and now a portion of your trip becomes a deduction! Book a party and go see your family!
Home Office deduction
Get your home office set up so you can take the deduction!
You are the boss
You get to determine exactly how your business is run!
With all the trips to the post office, office supply store and to home parties (if that is part of your business), this deduction can really add up! Grab an inexpensive pocket calendar and leave it in your car.
Every time you leave your house for a business errand, make sure to get it on your calendar and include your mileage, where you went and why.
Put your family to work for you
Have your children help out in your office, filing papers, getting mailings together, entering expenses, etc.
When you pay them less than $500/year, they do not have to submit a tax form. Plus, you could also use this as a way to help supplement their 529 plan to get the best use out of your money!
Great Income Potential
You can determine how much you are worth! The harder you work, the more income you will generate.
Anyone can start a business
There are so many different home-based businesses out there to choose from with so much training to get you started and keep you going for as long as you would like to work out of the home.
I hope this has helped you in making your decision or helped you see what you truly have with the home-based business you have started.
By guest contributor Elizabeth Messerly