Tax Home Office Deduction-Home Business Taxes

Deduction Home Office

I was the guest speaker on the Direct Selling Women’s Alliance tele-seminar tonight. Our topic was the home office income tax deduction. Now is the time to put your plans in place to be IRS compliant with your business for next year!

Home Office Deductions

Some people and even some lawyers or accountants are afraid to take a home office deduction for fear that a red flag will go up. The IRS does not have a flag pole that they run out to and raise a flag every time a home office deduction is taken.

There are two tax structures in the United States, Canada and Australia as well as many other counties.  One for the business owner and one for the wage earner.  The business owner gets the advantage of taking many business expenses before taxes.  While the employee is required to deduct taxes first then pay expenses some of which are even expenses associated with going to work!

Home Business Tax Deductions

The IRS is not out to get home business owners who take the home office deduction and follow the law in doing so.  They made the law so that you can use it properly.  This training is all about setting up a business plan that keeps you compliant when using the home office deduction for your home business office expenses.

Many countries provide similar benefits for work at home consultants so please do not judge yourself out of this training and be sure to research your own situation.

Australia has similar laws to the US.  Visit http://www.ato.gov.au
Canada has tax laws similar to the US. Visit http://www.cra-arc.gc.ca/

Home Business Tax Deduction

This audio shares more about home based business tax deductions.  Please keep in mind that we are not giving you legal advice and that you should consult you tax accountant. Seek out an accountant who has experience with small business owners or one who works from home him/herself.

NOTE: Your audio will stop if you click sidebar links! The Power UP program includes the business plan template discussed in the recording. Click the image to the right or the links in the white part of the page to learn more about the business plan template. These links will allow your audio to continue to play while you look at other pages.

If you need an IRS direct sales compatible business plan template, then the Power UP For Professional Results program is for you. It includes a data disc with the IRS approved business plan created by a direct sales specific tax attorney. (Game players: Check your score card for a coupon code discount!)