Benefits of Working from Home
Regardless of your age or whatever stage of life you are in, the benefits of working from home can be very beneficial and rewarding in many different ways. Whether you want to be an online entrepreneur or want to operate a small business from home you can end up saving a lot of money on monthly expenses for automotive transportation and other tax deductions. Anyone who owns a vehicle know’s the cost of automotive repair, mileage and fuel costs, which are all tax deductible. These costs add up and ultimately eat away at your hard earned pay check unless you’re writing it off on your taxes. But owning your own business you now have the ability to write off numerous expenses including a portion of your home, electrical and other household expenses. Working from home can also save you money from purchasing business attire and dry cleaning expenses which are also tax deductible. This means you can be operating a business in your most comfortable clothes – even your pj’s!
If you have children, you can also enjoy the added benefit of flexibility that comes with home based employment. This means that you will be able to create your own work schedule; be the master of your daily agenda and the captain of your own calendar! This will help you coordinate time for shuttling the kids to and from school, soccer, ballet or daycare and even doctor appointments.
People don’t often think about it, but working from home can also impact your health in the most positive way. Working in an office environment for a corporation can be very stressful, but by being your own boss and working from your own home, this alleviates any negative tension that can arise from working for someone else.
Besides, if you don’t start your own business and follow your own dreams of being your own boss – you might spend the rest of your life working for someone else who did follow their own dreams.
There are dozens of reasons why everyone should start up their own business whether it’s a sole proprietorship or S-Corp. and let’s start with hanging on to more of your money!
Top 10 Tax Benefits for the Self Employed
1.) Self employment tax deduction
2.) Home Office
3.) Health Insurance is deductible
4.) Meals & Entertainment
5.) Internet & Phone
6.) Interest on business loans & business credit cards
7.) Car & Transportation
8.) Expense out your travel
9.) Education to learn more about your trade
10.) Self Employed retirement plans
Top 10 reasons why you should own a business.
1.) More Money
2.) Less Stress
3.) Better Work / Life Balance
4.) Having the satisfaction of owning your own business
5.) Tax deductible expenses
6.) Call your own shots
7.) Financial responsibility
8.) Plan vacations – especially longer ones
9.) No annual performance reviews
10: FREEDOM to live your life on your own terms instead of someone else’s.