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Great Advantage Working from Home
What are the great advantages to working at home? Other than not spending time in travel to and from work and other than saving money on gasoline for that travel; the really great advantage to working at home is to have a home based business and taking advantage of the tax breaks that are available to the home-based business owner.
There is some preparation necessary. You must do the research to find the best home-based business for you. It could be with an established company that allows workers to tele-commute, but in that case you are working for someone else. You want to look for the opportunities that allow you to own your own business.
When you have decided on the home-based business there are several other steps that will save you time and money to do first, rather than later. File in your state for a DBA (that is a "doing business as", fictitious name). This is the process for a sole-proprietor. It takes a few days to get the paperwork from your state bureaucracy.
Once you have the DBA document you will want to open a business bank account (I personally recommend Bank of America since they are very business-friendly and offer many free services.) As much as possible, keep this account and your personal home account separate.
Next, you will want to get a business credit card (I suggest Advanta for this since you can apply on line and they are also very small-business-friendly).
Keep good records, especially of the time each day you put into your business as this is very important to the IRS. For record-keeping and tax assistance, I suggest you go to Dr. Mueller offers free advice and free forms along with a record-keeping system that is second to none! He also offers a wonderfully, practical, readable and easy to follow book called It's How Much You Keep That Counts!
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