If you are a self-employed professional who works from home either part of the time or every single day, you know the benefits of this convenience. Your commute is only a few footsteps into the next room. All the coffee you need to stay awake is right in the kitchen. And, your lovable poodle is always at your side. (more…)
Working from home sounds like a dream come true, doesn’t it? You can sleep in late and come to “work” in your PJs. You don’t have to answer to anyone, and you can take as many breaks as you want. While all of these things are true (to some degree, anyway), there’s a price to pay for treating your home office more like home and less like an office. Often, the cost is decreased productivity. Sure, you should be comfortable, but you’re still running a business – be sure to keep the space around you reflecting that!
Keep a Dedicated Room – No Distractions
You should have a dedicated room for your office. Don’t use the living room or breakfast nook in the kitchen. A lot of people do this. It’s a huge mistake. Huge. Why? Because there are so many distractions around you. Spouses, kids, and even normal household items like ticking clocks, pets, the temptation to turn on the TV while you work, and even the UPS delivery man stopping by periodically throughout the morning.
This post is brought to you by our partners at TaxJar – an online tool built to make sales tax filing easier for online sellers.
Running your own online business is tough enough. Staying compliant with state sales tax laws makes things even tougher. These days online sellers are branching out, selling on multiple platforms like eBay, Amazon, Etsy, and Shopify in addition to their own websites. At the same time, states are changing sales tax laws so that more online sellers will be required to collect and remit sales tax. That’s resulting in more and more businesses having to pay sales tax to multiple states.
Before you’re head starts spinning, here are some simple tips to keep in mind when it comes to sales tax compliance and your online business.
This article was written by Beth Duff of MerchantExpress.com.
Small business owners who use part of their home to run their business are entitled to deduct certain expenses on their tax returns. However, certain rules still apply when it comes to this home office deduction.
According to the IRS, there are two basic requirements that determine if your home qualifies for the deduction:
The regular and exclusive use requirement means you must regularly use part of your home exclusively for conducting business. If you run your business out of an extra bedroom or dedicated office space in your house, you can take the home office deduction for that space. If you work from your dining room table during the day and use the room for its intended purpose the rest of the time, you do not meet the regular and exclusive use rule and are not eligible for the deduction. (more…)
Whether your new office is 100 square feet or 1000 square feet long, it’s still going to require furnishing. Sometimes, though, the office is the last room in the house to get furnished or it’s for a small business that doesn’t have a lot of cash to allot towards furniture and other similar overhead expenses, so the budget is already used up or has very little remaining to spend. If that’s the case for your home or office, don’t worry – these four tips can help furnish your office on a budget.
1. Utilize Your Current Furniture (more…)
This article was originally printed on LearnVest.com.
You’re free! Free to sleep in until 11 a.m., free to work while your adorable toddler plays at your feet, free to … keep really good records of all your expenses for your taxes.
We know. Not so fun. The reality is, being self-employed can be awesome for 11 months out of the year, and then come crashing down on your head in the form of lost receipts and unpaid estimated taxes in April. We want to save you from that sinking feeling. Read on for what every freelancer needs to know for your taxes.
Get Organized (more…)
2013 started with a bit of a bang – with the looming fiscal cliff threatening tax hikes and benefit cuts, Washington scrambled to pass a budget that would allow the USA to continue trying to climb out of the recession. However, many small business owners are wondering what this means for tax laws in 2013. Is anything going to change? Do they have to do anything special? To help sort through the chaos, MyCorporation has prepared a list of important items and small business tax advice for owners to be aware of when filling out their 2012 returns.
2012 Returns and Deductions
One of the biggest concerns that business owners have is how the fiscal cliff discussions will affect their 2012 returns. The American Taxpayer Relief Act of 2012, which was passed on January 1st 2013, was the piece of legislation that averted the fiscal cliff. And for many businesses, its contents will not affect their 2012 return. However, it did retroactively affect a few things, most importantly Section 179 and the Research and Experimentation Tax Credit. (more…)
Is the corporate office a thing of the past? For many modern workers, the answer is yes. Perhaps the most lifestyle-changing thing the internet has given us is the ability to work from home. More and more companies are employing telecommuters, which helps save with various overhead costs. Entrepreneurs, too, are choosing to work from their home offices rather than traditional cubicles.
For the past five and a half years I’ve worked from home, and during that time I’ve learned many lessons. But the one lesson that stands out above the rest: You need an organized and comfortable office, with the following five items that will make your home work life a whole lot easier. (more…)
Imagine – no commute, having time to read the newspaper, coffee brewed just as strong as you like it. Sounds nice, right? Then reality sets it – laundry, dirty kitchen, dog, kids, and so it goes. Working from home often presents a bitter-sweet dilemma. Here are three aspects to consider when working from home. (more…)