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Home Office Deduction for the Self-Employed
Starting a Business
January 2012 Newsletter
How to Choose A Tax Preparer
November 2011

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Business

Home Office Deduction for the Self-Employed

The IRS allows self-employed taxpayers to claim a deduction forhome-based businessexpenses if they meet certain requirements:
  • They must use the home office regularly andexclusively
  • As the principal place of business for a tradeor business.
  • As a place to meet with clients, patients,or customers in the course of the trade or business; or in connection with thetaxpayer’s trade or business, if the location is in a separate structure not attached to the dwelling unit.
Note: Day care businesses are exempt from

Starting a Business

Do you have an entrepreneurial spirit? Do you dream of being your own boss? Many people have the desire and some solid ideas for starting a new business, but they either lack the courage to take the first step or they don’t know where to start. Here is some information that may help guide you in taking those first steps.
  • Develop a Business Plan
  • Registration of Business
  • Location of Business
  • Tax Considerations
  • Employees
  • Record Keeping
  • Start-up Costs
  • Capital Expenditures
  • Other Considerations
Develop a Business Plan