According to the U.S. Bureau of Labor Statistics, 4.12 million American entrepreneurs are operating their businesses at home. These home-based businesses include anything from home-based accounting firm to home-based food catering service and even to day care service. The advancement in telecommunication technology allowed the home-based business boom, which gave many individuals the benefits of a home-based business.
In general terms, there are two benefits of a home-based business: lifestyle and financial freedoms. Lifestyle freedoms include working hour flexibility, convenient working arrangement, etc. and financial freedoms include increased income possibilities and tax deduction opportunities. Many home-based business owners fail to exploit in full the tax deduction privilege given to them by the IRS in the conduct of their home-based business. So this article will focused on these tax deductions to help home-based business owners boost income.
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