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In Brief: Home Office & Telework Tax Tips

Law / Tax & Zoning
May 12th, 2009 No Comments »

Just because you work from home doesn’t mean tax advantages ain’t yours for the taking (double negative notwithstanding [is notwithstanding a negative?])…

Some tax time brain food:

Commute from your home office? SmartMoney says get the home office deduction you’re due.

If you’re an independent contractor, a 1099er, a soloist or hold some other funky moniker to describe someone who works for him or herself, read Steven Fishman’s book(s) and get your due. Try MBO Partners for a bit of insights, too.

9 Steps to Stress Free Home Office & Small Biz Flock Online Tax Filing

Legal & Accounting
March 26th, 2009 No Comments »

In today’s? economy, people are turning online to file their taxes rather than spending hundreds of dollars (sometimes thousands) going to their usual accountant.

According to the IRS, 2008 saw more than 86 million Americans file their tax returns electronically – a new record, and this year that number is expected to increase. E-filing is faster and can expedite the filing process at little or no cost.

Whether you work from a home office as an entrepreneur or a teleworker, or run a small business, simplifying tax time can reduce stress. Here’re some tips from the folks at Best Buy’s Geek Squad: Read More »

Home Office Tax Time Beckons: What’re You Gonna Keep?

Law / Tax & Zoning
February 20th, 2009 1 Comment »

SOHO TaxesAs a home-based independent contractor, my CPA always tells me, at tax time, Get what’s yours.

Other say, it’s not what you make. It’s what you keep.

With that in mind, here’s a great piece from BusinessWeek on tax-saving tips. Because if you’re not taking tax deductions that you’re entitled to, you’re watching profits go straight down the drain.

From small business owners to home office workers to the self-employed workers and even office-based independent contractors and teleworkers or telecommuters, we have ample, legitimate business expenses we can write off – TODAY. Read More »

Six Weeks Out: How Much Home Office Coin You Gonna Keep?

Legal & Accounting
November 17th, 2008 1 Comment »

Would you like to keep more of your freelance or home-business money where it belongs (though not necessarily in your mattress)? This column from home office domainer Owen Frager with Frager Factor explains what any tax-savvy soul needs to know…

When year-end approaches, most of us are busy taking care of last-minute items for the year and preparing for the upcoming year. Remember, procrastination can result in missed opportunities and, in some cases, penalties for missing deadlines. It’s not too late to make financial changes that may save you money on your 2008 tax return. You have a couple of short weeks left to make smart year-end financial moves and do some advance planning for 2009.

Corporate executives working on W-2 aren’t able to capitalize on some of the liberal tax advantages enjoyed by the ranks of the self-employed. And you don’t have to make serious coin to consider your own tax advantages. Rich man or poor man, it’s not what you make that’s important. It’s what you keep…

Read More »

Sunday Home Office Round-Up: Telework, Contests & Cashola

Telework & Virtual Officing, Uncategorized
November 2nd, 2008 No Comments »

Lots of news this week from the home office front lines. Companies continue to learn of the intangible benefits of telework, and people continue to explore the subtle nuances of their workspace. Check it out…

Telework = Cashola? Network World magazine writes that companies offering telework programs will not only find their employees more productive, but also happier because of the money they are able to save by working from home at least part of the time, according to a recent survey. The U.S. Unified Communications Survey, sponsored by Mitel Networks Corp. and conducted by Zoomerang Market Research in August, shows that nearly 60% of 821 U.S. white-collar workers polled save at least $25 per month on fuel costs by working at home. Another 25% reported saving more than $100 per month by performing their jobs outside of the office. Read More »

Baby & Bobo & Home Office Taxes

Productivity & Efficiency, Uncategorized
September 12th, 2008 No Comments »

Consider this the tale of the Baby & Bobo meet the Caveman…

I was up last night with little to do except file a half-dozen deadlines that had crept up on me like some Cat 3 hurricane (I knew it was out there two weeks ago, but waited until the last minute to prepare)…

So, I decided to stall. Again. And snoop around my online bank account. That’s when it hit me: Taxes are due on Monday (the 15th), and I was plum out of payroll tax deposit slips. Read More »

Why Fear the Home Office Audit?

Law / Tax & Zoning, Legal & Accounting
April 2nd, 2008 No Comments »

Tax day is half a month away. Freaking out yet? Should you be?

According to a home office tax piece on RTOnline, “The National Federation of Independent Business estimates that 9 million small businesses have home offices. According to the IRS, only 3.2 million tax returns claimed the home office business deduction in 2005.” Why this disparity? Do people not know they can take the deduction? Do they fear the flag?

?Many legitimate home-based business owners don’t take the home office tax deduction on their federal tax returns. Why? Because they fear the red flag, the phantom but nagging concern that the IRS sits around seeking out home officers worthy of their undivided attention.

Some accountants say take everything you have coming. Some say don’t claim the home office deduction. Read these pieces on Maximizing the Schedule C and Last Minute Tax Tips. Here’s another opinion from the TaxProf Blog.

And according to the RTO piece, there’s a move afoot to simplify the code to help home officers.

What’s your opinion? Let us know…

News at 6: Some of the Latest Home Office Headlines

News & Reviews
March 15th, 2008 No Comments »

Here’s the latest home office headlines?from the Web?— on everything from taxes to start-up to technology…

Home office deduction makes Top Ten list for government reform
Accountingweb.com – Indianapolis,IN,USA
The US Small Business Administration’s Office of Advocacy has announced?its 2008 Top 10 Rules for Review and Reform. The Top 10 are drawn from over 80 rules

Taking Care of Business
Wall Street Journal – USA
Even though he knows his local market in a way the home office never could, “those standard operational functions — scheduling, billing, payroll — that’s

Small Scanners Ideal For the Road or Home Office
Canada Free Press – Toronto,Ontario,Canada
I’ve been playing with a couple of representatives of this diminutive breed, an “OptiCard” business card and photo scanner from Plustek, and Fujitsu’s new

Home sweet home often provides a good place for startups to grow up
Bizjournals.com – Charlotte,NC,USA
The really big ticket items, such as office space, tend to cost a fraction of what they do in bigger cities. Maintaining lower operational costs is more

It’s a new world at home
Cape Cod Times – Hyannis,MA,USA
As for you, if you’re reading this from the comfort of a home office that’s your place of work, clearly you are in the right place at the right time


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