Top 10 Home Business Tax Tips


One of the great virtues of starting a home business is the tax breaks you can claim. However, a popular belief is that claiming aggressive - and maybe slightly exaggerated - write-offs is a sure-fire way to attract IRS auditors. We'll look at some of the more popular home business write-offs as well as some tips on how you can legitimately claim them. (Homebodies can save big on their tax bill. Learn how in How To Qualify For The Home-Office Tax Deduction.)

  1. No results found.
Related Articles
  1. Taxes

    Top 10 Home Business Tax Tips

    If you work for yourself, make sure you are getting the most for your tax dollars.
  2. Taxes

    6 Tax Breaks That Anyone Can Claim

    Tax deductions and credits aren't just for big companies. You might be surprised how many tax breaks apply to your return.
  3. Managing Wealth

    The Best Part About Owning A Home: Tax Deductions

    There are many home ownership tax deductions you can take advantage of. Here are some of the ones you need to know about.
  4. Taxes

    Maximize Your Tuition Tax Benefits This Year

    To help college students pay their tuition bills and give America that extra push to get an education, the government has come up with a $2,500 tuition tax credit.
  5. Taxes

    Top Tax Advantages of Buying a Home

    Don't forget these deductions and credits that homeowners can use to reduce their tax bill.
  6. Taxes

    Tax-Saving Tips For Canadian Taxpayers

    Find out how to get a bigger return.
  7. Taxes

    Tax Avoidance Or Illegal Evasion?

    Find out how to avoid the most common tax filing mistakes and audit triggers, so you can deduct with a clear conscience.
  8. Taxes

    The Great Canadian Tax Quiz

    How much do you know about the taxes you pay? Here's a list of 10 tax questions to test your knowledge.
  9. Managing Wealth

    10 Tips for Avoiding a Tax Audit

    To help you avoid a tax audit this year make sure you stay away from these ten red flags.
  10. Investing

    Understanding Write-Offs

    Write-off has different meanings depending on the context in which it is used, but generally refers to a reduction in value due to expense or loss.
Hot Definitions
  1. Subprime Auto Loan

    A type of auto loan approved for people with substandard credit scores or limited credit histories. There is no official ...
  2. Racketeering

    A fraudulent service built to serve a problem that wouldn't otherwise exist without the influence of the enterprise offering ...
  3. Federal Debt

    The total amount of money that the United States federal government owes to creditors. The government's creditors include ...
  4. Passive Management

    A style of management associated with mutual and exchange-traded funds (ETF) where a fund's portfolio mirrors a market index. ...
  5. Series 7

    A general securities registered representative license administered by the Financial Industry Regulatory Authority (FINRA) ...
  6. Compound Interest

    Compound Interest is interest calculated on the initial principal and also on the accumulated interest of previous periods ...
Trading Center