home based business startup benefits

How to maximize your home based business startup benefits  to make more money

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When people think of starting a home based business they, usually think of being at home, no more bosses, making my own schedule, or spening more time with their families.
Howver, having a home based business has even greater benefits that  in which many home business owners tend to look over.  So, I outlined some of them as well giving you some ideas of how to set up a home based business properly.
For starters , did You Know Having A Home Based Business Set Up The Correct Way With Three Way Funding, You Could Enjoy Some Big Economic Advantages And Savings For Your Pockets?
We'll that's just the tip out the ice berg here's the real benefits of having a home based business.

Business Use of Your Home

If you use part of your home for business, you may be able to deduct expenses for the business use of your home. These expenses may include mortgage interest, insurance, utilities, repairs, and depreciation. Refer to Home Office Deduction and Publication 587, Business Use of Your Home, for more information.

Business Use of Your Car

If you use your car in your business, you can deduct car expenses. If you use your car for both business and personal purposes, you must divide your expenses based on actual mileage. Refer to Publication 463, Travel, Entertainment, Gift, and Car Expenses. For a list of current and prior year mileage rates see the Standard Mileage Rates.

Other Types of Business Expenses

• Employees' Pay - You can generally deduct the pay you give your employees for the services they perform for your business.
• Retirement Plans - Retirement plans are savings plans that offer you tax advantages to set aside money for your own, and your employees' retirement.
• Rent Expense - Rent is any amount you pay for the use of property you do not own. In general, you can deduct rent as an expense only if the rent is for property you use in your trade or business. If you have or will receive equity in or title to the property, the rent is not deductible.
• Interest - Business interest expense is an amount charged for the use of money you borrowed for business activities.
• Taxes - You can deduct various federal, state, local, and foreign taxes directly attributable to your trade or business as business expenses.
• Insurance - Generally, you can deduct the ordinary and necessary cost of insurance as a business expense, if it is for your trade, business, or profession.

Conclusion:
Having a home based business is a great wealth builder.  Espescially, if you're able to take advantage of all these allowed deductions.  As as small business owner working out of the home, you those added benefits as well such as being your own boss, spending more time with the family.  Also, if you set the business up the correct way using three way funding you get to enjoy other financial perks such as building your business credit.  So that you could get approved for funding with out using your personal credit.  You can learn more here.

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