Work from Homes Businesses not Prepared for Tax Time.

Many entrepreneurs, working from home are just not prepared for tax deductions allowed for their home based business.few books

 

It has been a while since my last post. For the past dozen or so years I have been spending the better part of the first 4 months of the year preparing income taxes professionally.

 

While many of my clients are real estate investors, I have noticed more and more people that used to have jobs to earn a living are now working from home over the past few years, I am not sure if this is by choice or out of necessity as a result of the current job market. In any event, unlike my landlord and real estate investor clients, many of these new work from home entrepreneurs seem to be unprepared when tax time comes around. Many have no idea what deductions they can and cannot claim on their income tax return.

 

This is unfortunate and unnecessary as I know many income tax professionals that would be more than happy to consult with these new entrepreneurs (many for Free).

 

I would strongly suggest scheduling your consultation sometime other than between the months of January and April 15th.

 

Author: Rick Chapin

Having spent most of my adult life engaged in sales and marketing as well as a decade of preparing income tax returns for small businesses, individuals and real estate investors. Running your own business is not easy, you must utilize all the tools available to aid in your business development, I believe your personal development is equally important. I have for many years had knowledge and interest in small and medium sized businesses as it relates to allowable deductions, tax deferred exchanges and other tax treatments, I have also, for many years invested in books, tapes/cds for inspiration and motivation, so it seemed a natural fit for me to become involved in aiding in people in business development as well as their personal development.

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