Home Based Business
Saturday, July 12th, 2008BookWise Conference Call
I was on a BookWise TaxWin conference call a couple of nights ago. On the call, Ron Mueller discussed the three requirements to claim a tax deduction for a home based business. They are: the intent to make a profit, working the business on a regular and consistent basis, and running the business like a business. He informed us that having a home based business should increase our tax refund by about $5,000. He spoke about the various tax deductions that can be claimed such as a home office, employing one’s children, traveling, and business use of vehicle. The call was very informative, and another great benefit of BookWise.
Andy Haspel
www.WinningInTheMargins.com Passkey: 108847
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