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Home Based Business Expenses To Reduce Your Taxes

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http://MarketingTrafficSecrets.com Home Based Business Expenses to Reduce Your Taxes. How to have more spendable income with a home based business. Here are 10 deductible home based business expenses to reduce your tax liability and give you more spendable income.

Your home-based business is in a unique tax situation. Certain deductions are available to home-based businesses, but you must keep good records and determine the business portion of your home expenses. This article will help you learn more about home-based business tax deductions.

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Home Based Business Expenses To Reduce Your Taxes

  1. 1. Home Based Business Expenses to Reduce Your Taxes
  2. 2. Home Based Business Expenses to Reduce Your Taxes. How to have more spendable income with a home based business. Here are 10 deductible home based business expenses to reduce your tax liability and give you more spendable income.
  3. 3. Your home-based business is in a unique tax situation. Certain deductions are available to home-based businesses, but you must keep good records and determine the business portion of your home expenses. This article will help you learn more about home-based business tax deductions.
  4. 4. 1) Understand the "Principal Place of Business" Concept Before you start taking those tax deductions for your home business, you must meet the IRS qualification that your home is your principal place of business.
  5. 5. This article details the IRS requirements and includes some examples to help you sort out this complicated issue. Additional Information At the following www.MarketingTrafficSecrets.com
  6. 6. 2) New Alternative: Simplified Home Office Space Calculation Method The IRS has announced a new simpler calculation method for home office space deductions. You can deduct home business costs for the space used "regularly and exclusively" for your home business,
  7. 7. using the old calculation or the new simpler method. If you have a smaller space, the simple method can save you time and mistakes. GO TO WEBSITE BELOW FOR MORE INFORMATION www.MarketingTrafficSecrets.com
  8. 8. 3) Calculate Your Home Business Space Deductions This article takes you through the process of calculating your home business space deduction, using Form 8829 or the simplified method. GO TO WEBSITE BELOW FOR MORE www.MarketingTrafficSecrets.com
  9. 9. 4) Home Office Expenses Deductions What expenses you can deduct for your home-based business. GO TO WEBSITE BELOW FOR INFO www.MarketingTrafficSecrets.com
  10. 10. 5) Prepare for an IRS Audit of Your Home Based Business Are you prepared for the IRS to come to your home to inspect your home business? The IRS wants to be sure You are not violating the requirement that your home office be used . . . .
  11. 11. . . . "regularly and exclusively" for business purposes. CPA Gail Rosen answers some questions about use of the home office for personal reasons. GO HERE TO FIND OUT MORE www.MarketingTrafficSecrets.com
  12. 12. 6) Other Home Based Business Expenses Some other home based business expenses you can deduct. GO TO WEBSITE BELOW FOR MORE www.MarketingTrafficSecrets.com
  13. 13. 7) Use Form 8829 to Calculate Your Home Based Business Expenses To correctly calculate deductions for business use of your home, you will first need to use IRS Form 8829 to determine the deduction percentage.
  14. 14. 8) Deducting Home Based Business Telephone Expenses You can deduct phone expenses for your home based business. GO TO WEBSITE BELOW FOR INFO www.MarketingTrafficSecrets.com
  15. 15. 9) Limits on Home Based Business Expenses Home based business deductions are limited. You can deduct home business expenses to reduce your business income for the year, but you can't deduct these home business expenses if you had a business loss.
  16. 16. 10) Deducting Travel Expenses To and From a Home Based Business If you operate your business from your home, you can deduct business- related car expenses for travel back and forth for business purposes, under these circumstances: GO TO WEBSITE
  17. 17. Go to the website below for further details on saving money, if you have a “Home- Based” business! www.MarketingTrafficSecrets.com
  18. 18. Why Not Start a Home-Based Business? For ONLY $10 Per Month Investment YOU can have a Domain Name & a Business!Find Out How In The Next Slide
  19. 19. Go To The Website Below NOW! www.UnlimitedWealthBuilder.ws

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