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Being self employed & your own boss also give you the freedom of not bound to a withholding money for tax by a company employer, like you would if you worked for some one else. When you work for some one else you would have to have money taken off each payday check & sent to the government with payroll deductions. When you’re self employed you can keep that money yourself until it comes time to pay. So what’s great about that is you can then put that tax money in a savings account & make a tiny percentage of interest till then.

Now as far as home business tax deductions, there’re many deductions you can take advantage of. Be sure to consult with your tax advisor or accountant to be sure about each one, as many businesses & states or provinces are different.

Here are a few home business tax deductions you can get:

Start up cost ? The start up cost for going into business can usually be deducted. This includes distributor kits & membership entry fees etc.

Office supplies ? When you go straight to the store & buy stuff like paper, pens, computers, desks, & other supplies that you need for your home office you’re able to deduct these expenses.

Services used ? These are services such as business telephone lines, fax lines, Internet connections if used for business. You can then consider these to be business expense are now home business tax deductions.

Advertising ? When you spend money on advertising for your business it’s an expense to create profit & is also a home business tax deduction. This is a very big one. I often hear people complain about advertising their home business on line & stuff. Well that advertising is an expense & can be deducted.

Gas ? If you’re using your car to do business appointments then you’re allowed to deduct your gas bill.

Rent or Mortgage. ? If you’re a renter you can deduct a percentage of your rent as an expense or if you’re a home owner you can deduct part of your mortgage as a business expense as you’re working from your home.

These are just a few deductions that you may be easily able to take advantage of as a home based business owner. Please be sure to consult your accountant for many more details on how to really implement & take advantage of these deductions.

Colin Meunier is a Successful Home Business Coach & Mentor ! To learn more on how to start or become more successful in your home business on line Visit: http://www.WhoIsColinMeunier.com & http://www.colinmeunier.com/blog

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