Tax Issues for Home Businesses

Preparing your home office taxes

10 facts bout your home based business and taxes, including information on how to calculate deduction percentage, direct and indirect home business expenses, and limits to home business deductions.

Information on deducting car expenses for traveling to and from a home based business.

Deducting mileage back and forth from a home-based business.

Describes the requirements for taking home business tax deductions based on your "principal place of business."

Tax filing documents needed to prepare Schedule C include: profit & loss statement (income statement), balance sheet, asset records, business use of home documentation, depreciation schedules.

How a home business can collect sales tax

Home business tax myths and information on submitting tax deductions for home businesses

Your home-based business is in a unique tax situation. Certain deductions are available to home-based businesses, but you must keep good records and determine the business portion of your home expenses. This article will help you learn more about home-based business tax deductions.

Tax and legal issues to consider if you are moving your business to your home.

Unscrupulous companies try to get people to buy their services to set up home-based business tax avoidance schemes. The IRS carefully monitors these schemes. Here are some tips to avoid problems with your home-based business.

This article describes how to file IRS Form 8829 for expenses for business use of your home.

Here is a brief discussion of the home office expense deduction, including requirements for being able to take this deduction and calculation of the actual deduction, with both direct and indirect expenses.

Here is a discussion of how to calculate your home business space deduction

How to prepare for an IRS home audit of your home based business. If the IRS finds you violated the "regularly and exclusively" test for home offices, you can be denied a deduction for the use of this office.

How to have your business considered a legitimate business and not a hobby.

Describes a cash business - a business that operates primarily with cash transactions

Is your business moving? Maybe you are anticipating a company move to expand, maybe it's a corporate relocation, or maybe you are moving your office back home to save money. Whatever the reason, be sure to check out these articles to make sure you notify all federal, state, and local agencies.

Deductions for home business expenses are limited if the business does not make a profit for the year.

The effect on taxes for a home based business if the home is sold.

Defines "commuting" and describes what business expenses a business owner can deduct for commuting and which cannot be deducted.