If you run a home based business that earns at least $600 a year, you know that when tax time comes around each year, you could be losing your shirt! After all, you’ve most likely gone the entire year without paying a dime in taxes, and now that Uncle Sam knows how much you earned, you could very well be paying in large amounts of money to both the Federal Government as well as the State…. that is, unless you discover all of your potential deductions.
Let’s take a look at 10 common deductions that could keep some more green in your pocket each year:
1) Your Home Office – If you have a designated work area that has a window, you are allowed to deduct that expense on your taxes.
2) Office Supplies – With nearly every home-based business there is a need for pens, pencils, paper, staplers, etc.
Continue reading 10 Tax Deductions for a Home-Based Business
Saving money is something that every business worth its salt has on its agenda, and in times like these, every penny saved is extremely valuable. Something that a number of small and medium-sized enterprises (SMEs) are looking into is allowing some of their employees to work from home. Known as ‘remote working’, employees can work from the comfort of their own home without having to travel great distances to the office. As this infographic from Powwownow shows, many of the SME employees they surveyed are in favour of it.
Saving money on travel and being able to work flexible hours are among the benefits of working from home to employees, but employers have just as much to gain from remote working. Companies can save money on electricity, equipment such as computers and even office space if they decide to downgrade to smaller premises, and they can communicate more effectively with
Continue reading Remote Working and Why it Will Save Your Business Money [Infographic]