This scenario is becoming more common every year: Digital nomads are roaming the world, seeing the sights, visiting friends and earning a decent income through their web-based businesses and activities. They might be renting apartments as they roam. They may be living on their boats or RVs; there are many possibilities. However, the footloose and […]
Tax tips fall into two basic categories: The longer list of things you can do during the tax year to reduce your liability and a shorter list of things you need to do after the year is over but before you file. Our subject here is that second list. Let’s get going. 1. Take the […]
Home-based businesses comprise one of the fastest growing business segments today. People love the idea of being able to be their own boss and work from the comfort of their own home. According to statistics from the U.S. Small Business Administration, 52 percent of all small businesses are considered home-based. There are approximately 14 million […]
Fifty-two percent of small businesses in the U.S. are home-based. However, the home office deduction is rarely used by these entrepreneurs. I’ve personally recommended business owners shy away from it because the experts say it’s a red flag for an audit and who wants to be audited? Here’s the issue.