Running a business from home can be hard work, but it has a lot of advantages, too. Such enterprises can succeed as long as lots of initial work goes into them. Over time it will build, but it can be tough at the start. You’ll need to put in the efforts to get you over this hump.
If any business expenses arise from having to entertain clients, you can deduct these costs out of your taxable earnings. Meetings with business associates are deemed legal business costs. Make sure that the people you meet with are either already clients or potential clients, as the IRS doesn’t look too favorably on claiming pleasure as business.
Driving can be written off if it’s for business. Even if you just take a day trip, they are 100 percent deductible. You must be honest about it. You could be asked by the IRS to prove that your deductions are vital for your business.
Wear business attire when working at home. Working at home sometimes makes you feel as if you can sit around in your pajamas. Try to dress professionally as you would for an external business. This allows you to be productive and focused on your work.
Feel free to have breaks during the day, but make sure you dedicate a chunk of your time to just work related things and don’t let the activities in your household distract you. Long phone calls about personal things need to be avoided, as well as projects that take a while, like home improvement. Take active breaks to refresh your body and mind, for example a bit of exercise or work in your garden.
It is advisable to have a PO box as a mailing address for your home based business. Do not use your own home address on business websites. You want to protect both your identity and your family’s identity.
Especially at first, you may feel that things are taking too long. This is normal! No one gets rich overnight because if they could, everyone would be rich. Working hard to form a strong foundation can help you have a much better chance of being successful.