As an owner of a home based business, a person is also responsible for keeping track of everything they will need for filing their taxes. This is an aspect of the home based business opportunity which confuses many people, but one that is very important to understand and utilize.
Nobody wants to accidentally file something incorrectly or incompletely and risk being charged with tax fraud.
It is important to save everything related to your homebiz. There are a large number of items and services which are tax deductible when you own a home business. Part of your electric bill, rent or mortgage, and phone bill may be deductible since they are used for your business.
Part of your car payment and gas bill can View the rest of this article
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