Home Based Business


Home Based Business

What a great idea! Work from home at your own schedule at your own convenience and in whatever attire you want to wear.  Sounds great and it all may be true.  This lesson will bring to light some of the legal, tax, regulatory and social issues of working from home.  Many questions will be answered such as can I deduct a home office expense on my taxes?  Many of these issues will be  discussed bringing in practical illustrations and some realistic discussion of the laws, regulations from a local, state and federal perspective.  The more you learn the better you can make informed decisions.

Good Luck in your NEW Venture!

Entrepreneurs should think about whether their venture is a business or a “hobby”.  This is important to understand because the taxing authorities will be asking this question when you file your tax return.  “Is there an intent to make a profit?”  Many of the information in this lesson will talk about the tax and legal implications of have a business at home.  There are many court cases on file where the IRS and other agencies have declared business as hobby and therefore disallowed the business deductions. The two major topics in this lesson are:

  • The professional, legal, and tax issues of working from home
  • The establishment of defining a business hobby v. a business

This lesson will provide practical and academic information so the user can be well prepared to make education decisions

Be Proactive! Anticipate!

Be Prepared!

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