| he economy is slow or in recession, many people lose | | | | businesses are growing at a incredible rate. A home |
| their jobs. This seeming negative occurrence calls for | | | | based business provides the potential for increasing |
| action. Some displaced workers start a business | | | | the economic base of a family. The home based |
| working out of their home. | | | | business provides a fertile training ground to teach |
| Computer programming jobs were in high demand in | | | | children fiscal responsibility. |
| America for several years. Then corporations | | | | A home based business not only increases the |
| discovered that they could hire programmers in India | | | | income level for millions of families but there are |
| for one third of the cost of American trained | | | | some other benefits as well. Owning your own |
| programmers. Suddenly the job market for these | | | | business proves a tax shelter for the money that |
| highly skilled technical employees dried up. A number | | | | you earn. The best way to get a large refund check |
| of programmers found themselves unable to find | | | | from the government is to take as many legal |
| employment. | | | | deductions for your home office as possible. |
| Several of these individuals found freelance work on | | | | The secret is that when you run a business from |
| the Internet. Others purchased businesses that they | | | | your home, regular expenditures become tax |
| could run from a home office to support their | | | | deductions. That expensive computer that you |
| families. When the supply of workers outstrips the | | | | purchased initially for the kids becomes tax |
| demand, jobs are lost. The only real job security | | | | deductible. Every book, report or paper that you |
| available is self-employment. There are many reasons | | | | purchase to conduct business is an expense that can |
| for starting a home based business but | | | | be deductible. These rules of tax deductions are in |
| self-employment has fewer risks than working for | | | | the IRS code. |
| someone else. | | | | To start a business you just state that fact to your |
| Home based business entrepreneurs are continuing a | | | | tax accountant. To legitimize the business there are |
| tradition that began before the turn of the century. | | | | certain registrations requirements in your local area. |
| The economic center was based in the home prior to | | | | Allow the professionals to take care of the legal |
| the Industrial Revolution. Agriculture was the major | | | | stuff. When you decide that you are ready to go out |
| industry of the time. However agriculture process is | | | | on your own, you just tell the IRS and the world |
| seasonal. When the weather prevented these | | | | that you have started a home based business. |
| entrepreneurs from planting and sowing, they | | | | You will need a product and a website to conduct a |
| created cottage industries to supplement the family | | | | business via the Internet. But starting the business is |
| income. | | | | easy and smart. The IRS wants you to succeed so |
| Today this same spirit of creating a family centered | | | | down the road when you make your first million, |
| economic base is the reason that home-based | | | | your tax bill will increase. |