There are lots of advantages of a home based business. Information from the 2007 U.S. Bureau of labor statistics show that 4.12 million entrepreneurs are now working at home. But You have to start one NOW.These are some benefits of a home based business.The largest of the advantages of a home based business in my viewpoint is the freedom. The liberty to dictate your own future. The freedom to do what you want and when you want. But very fast, before I mention why you have to start one NOW, here are some fast reasons:1. Control-of your own daily activity and schedule.
2. Security-No one else can dictate your wages or layoff or whether or not you’ve got a job tomorrow.
3. Time for Family.
4. No commute.
5. Performance Based pay instead of just getting paid what a job is worth.
6. Minimum start Up Costs vs. Bricks and mortar.
7. Function of the forceful net for additional business.
8. Leverage of other peoples efforts instead of a supervisor leveraging your efforts.
9. No age restrictions-young or old-any one can.
10. TAX BENEFITSTax benefits are the explanation why you need to get started today in your home business. In the case of taxes, the advantages of a home based business are great. If you get your business started before January first you can right away write off that investment for this years taxes.These are some common discounts that make a home based business worth while. All those PCs, printers, and supplies become a total reduction.Additional advantages of a home based business include being able to deduct whatever share of your home you set up as your office. If your work space is fifth of your home then you get to deduct 20 percent of your home owners expenses. These expenses include painting, resources, and even your home loan.The equation that might change from tax year to tax year is basically reasonably simple. I am not a tax accountant or tax pro so you are going to want to find the assistance of such a person. In any case it goes something like this: Let’s say you have a 2k square foot house. You create an office in your home where you are using 2 hundred sq. feet. In this theoretical case you’d be able to subtract 2 hundred / 2000 or 1 / 10 of your mortgage or lease, resources and everything else.You will be able to deduct a percentage of your security costs, your transportation costs, and insurance. Other deductible against tax expenses include software purchases, education, and even certain meal and entertainment expenditures.Of course when it comes tax time you’ll want to consult a professional to make sure you get all the advantages of a home based business you can. You should additionally be ready to subtract the entire expenditure of say a P. C. or printer that’s purchased for your business. Even your Internet costs and cell-phones will save you money on your taxes, meaning a bigger refund for you.Anyway, start saving on your taxes now by beginning your home based business today. Mull it over, what ever you spend by years end comes right off the apex of your revenue and instantly decreases your tax obligation for this year. This is one of the time delicate benefits of a home based business that you really need to pay attention to today.