You can receive fantastic tax breaks when you work from home even on a part time basis. If you think that this additional deduction won’t make much of a difference, guess again! The reason why you can get such a great tax break come income tax time is because you can claim your costs to run your business at home as a deduction, and more. So gather all your receipts, and be sure to keep them in a safe place, as you will want to claim them. Remember to keep track of all office purchases as well, as these items also qualify. It does depend on your geographical location, as to what exactly you can claim, but most individuals enjoy the following perks. Items to Declare A percentage is calculated with easy income tax software. You simply input the total for each area when you are prompted. Again, it does depend on your location and the type of business that you own, but normally you can declare the following, and more: • Mortgage payments
• Telephone
• Mileage and Fuel
• Property taxes
• Office supplies and equipment
• Heating
• Water
• Interest on business loans
• Internet
• Restaurant meals for meetings
• Travel and accommodations for meetings, conferences, or research for travel writing
• Repairs for the home
• Car payments
• Car repairs
• Advertising
• Rentals such as hot water tank or office equipment
• Electricity
• Cable if work -related such as for customer service for The Shopping Channel
• Postage and postal courier fees
• Insurance for car, home and business
• Administrative charges for bank statements
• Entertainment