To avail of these deductions, however, you need to keep records or proof of the expenses including the part of your home used solely for business. You must also prove that you have no other office or place you conduct business in except the one you have at home. These records of proof must be kept within 3 years from the date they were filed and 2 years after the tax was paid. The reason most entrepreneurs fail to avail of these benefits of home-based business is that they don't know what deductibles they are entitled to or they fail to keep records of proof. Know your full rights as a home-based business owner
because the IRA would not lay down all these for you; be proactive to progress your business
.
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