How to Get a Home Office Tax Deduction

How to Get a Home Office Tax Deduction for your home based business

As a small business owner, saving money wherever you can is a major key to success. Learn how to get a home office tax deduction, so you can pay less come tax time. Let me walk you through how to get this often overlooked tax deduction.

In order to claim a home office tax deduction, (also called the business use of your home tax deduction), there are two qualifications you must meet. You must use an area of your home regularly and exclusively for conducting business.

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Top 3 Tips for New Etsy Sellers

Top 3 Tips for New Etsy Sellers. Start your Etsy shop off on the right foot!

As a new Etsy seller, you want your business to thrive and grow as quickly and simply as possible. As an Etsy Seller since 2012, I have learned a few things about running a successful Etsy shop. Get ahead of the game with your shop by following my top tips for new Etsy sellers.

 

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Best Accounting Software for Etsy Sellers

Discover the best accounting software to use if you are an Etsy seller. I review and analyze three different accounting programs to find the best for Etsy Sellers.

When Etsy announced a partnership with QuickBooks to provide QuickBooks for Etsy, I knew I had to check it out. As an accountant I am very picky about my accounting software. As an Etsy Seller I want quick and easy financial data. This was the perfect opportunity to test and find the best accounting software for Etsy sellers.

QuickBooks for Etsy uses a version of QuickBooks called QuickBooks Self-Employed. I have been using a different version of QuickBooks, QuickBooks Simple Start, for many years. Keep in mind that QuickBooks Self Employed is a completely different type of program than QuickBooks Simple Start. Same company, completely different program. In this article I will discuss both QuickBooks Self-Employed and QuickBooks Simple Start. In addition, I had also heard many Etsy seller’s rave about Go Daddy Bookkeeping for Etsy sellers. This seemed like a perfect opportunity to test and compare all three programs. Here is what I found.

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Get the Most out of your Chart of Accounts

In the Quick Start Guide to QuickBooks post we talked a little about naming your revenue and expense accounts. The list of all your account names is called your Chart of Accounts.

The Importnace of your Chart of Accounts

As a new small business owner, you may be tempted to just use the account names and chart of accounts already provided to you in QuickBooks. However, with just a tiny bit of thought and effort you can create your own chart of accounts that will provide financial information to you that is actually meaningful. After all, the point of bookkeeping is to provide financial records that are useful, meaningful, and aid in decision making! (This post does contain affiliate links for products I use and recommend.)

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Can I Write-off the Purchase of Business Books?

Today’s question is from Elizabeth of Paper Bliss Designs.
Can I write-off business books or business planners/workbooks at tax time?
Great question Elizabeth! As with most things regarding the IRS, every situation is unique and there is a lot of room for interpretation. The general rules regarding business expenses are that they must be ordinary and necessary for your trade or profession. Most likely business books to help you grow your business or learn more about your line of business would qualify.

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The Quick Start Guide to QuickBooks

As a small business owner the thought of setting up a bookkeeping or accounting system can seem daunting. However, good financial data is vital to your business success, and setting up a bookkeeping system can actually be quite simple.

There are many online accounting programs available today. QuickBooks is one of my favorites. QuickBooks is perfect for the very small business all the way up to very sophisticated businesses. It’s easy to use, but it can grow with you as your business expands. Let me show you how easy it is to get started with QuickBooks. (This post does contain affiliate links for products I use and highly recommend.)

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Unlimited Books for the Bibliophile on Your List!

Christmas gift idea for the book lover on your list!

I love books! Reading has become part of my daily routine. I get cranky if I don’t get in a little reading time every day! I naturally gravitate to fiction, especially historical fiction and mysteries, but I love business books too.

Books make such great gifts, but one single hardback book can cost a pretty penny. What if you could give the gift of unlimited books to a lucky reader in your life? With Kindle Unlimited you can. (This post contains affiliate links.)

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How to Start Your Own Amazing Business

Starting a business does not have to be confusing or complicated. Follow these simple steps to starting your own amazing small business.

Starting a business can be so exciting! Whether you are looking to supplement your family’s budget with a side income, or want to earn a full time income, starting a small business can be the answer. There are so many possibilities when it comes to creating a business, and it is easier than ever to get started. You can create a business that fits your personal needs, and works within your available time. Are you uncertain about exactly how to start a business? Let me walk you through every step to starting your very own small business.

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Four Simple Steps to your Best Small Business Idea

Just any old business idea just won't work. Discover the best small business idea for you!

If you are like me, you have always wanted to be an entrepreneur. Your mind is constantly churning with possible small business ideas. Your problem is selecting the right business idea.

Or maybe you never thought you would be an entrepreneur, but your family could really use some extra income, and starting a small business seems like the answer. Your problem is coming up with a business idea.

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Is Your Hobby Actually a Business? Find out Now!

Is your latest activity a hobby or a business? Learn how to know if your most recent venture qualifies as a hobby or a business in the eyes of the IRS.

You have finally done it! You just hit “Publish” on your very first blog post . . . or you added your first listing to your Etsy shop . . . or you signed up for your very first craft fair . . . or you just sold a handmade purse to your friend! All of these things are so exciting!

When the novelty wears off, you might start to panic. Do I now have a business? Do I have to pay taxes? Do I need to register with the IRS?

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