TAX TIME!!! 20 Tax Deductions Not to Miss for Home-Based Businesses

Found this article by Manny Davis to be helpful for taxes and small business.
Read on!



Home-based businesses seem to be the new trend, and if you have switched to working from home, you may be entitled to certain tax deductions. Whether you telecommute, work as a freelancer, or own a business that you run from your home, you have a cost to running your business, and the IRS recognizes many of these costs. Before preparing and filing your tax return you will want to take a close look at possible deductions to find out which ones apply to you. Here is a look at some of the most common deductions for home based businesses.

Below are 20 expenses that may be deductible if you run a home based business:

Rent Payments: If you rent the place where you live and you have a dedicated room that is used specifically for your office, you may be able to take this deduction. If however, you have a desk set up in your kids play room, you won't qualify for the deduction. Additionally, you must show proof that your home office is the primary place you conduct your business. There are many methodologies to take this deduction, typically you take the square footage of your work area and divide by the square footage of your home.

Mortgage Payments: If you own, you may be able to take your mortgage payments as a deduction. You must meet the same qualifications as mentioned above for taking rent payments as a deduction.

Renters/Homeowners Insurance: If you qualify for the home office deduction then you are allowed to deduct the equivalent percentage that your home office is to your entire home.

Electricity: Electricity is an indirect expense that is shared between your home and your office. You are allowed to deduct the equivalent percentage that your home office is to your entire home.
Water: Like electricity, this is an indirect home expense and can be deducted in the same manner as electricity.

Gas: If you use gas to heat your home, this is considered an indirect expense and can be deducted in the same manner as electricity is deducted.

Home Repairs: If the repairs that are done are to the portion of your home that is solely dedicated to your home business you can take the entire amount as a deduction. If the home repairs are indirect to the home office it is a possibility that you can deduct the percentage that represents the portion the home office makes up of your home.

Phone Charges: If you have a dedicated phone in your home or a dedicated cell phone just for business purposes, all charges can be deducted. If you use your regular home phone or cell phone for business related calls, you can deduct a portion of your bill.

Office Supplies: Any supplies you use for your business like paper, pens, ink cartridges, etc are all a deductible, just be sure to hold onto the receipts.

Furniture: If you have to purchase furniture like a desk, filing cabinet, etc. you can deduct the cost of these items if they are used in your office. Again, be sure to keep receipts.

Equipment: Items needed to run your business like computers, laptops, fax and copy machines and more are all tax deductible as business expenses. Be sure to check with your accountant about depreciation rules on these items since many can't be entirely deducted they year they were purchased. It is a possibility to take the full deduction the year the purchase was made if the asset qualifies for section 179 deduction.

Cleaning Services: If you have your entire home cleaned, including your home office area, this amount can be deducted by using the equivalent percentage that your home office is to your entire home. If you only get your home office area cleaned, then the entire amount can be deducted.

Home Security System: If you qualify for the home office deduction, this expense is considered an indirect expense to your home office and a percentage of the expense can be deducted. You can deduct a percentage of the initial installation as well as a percentage of the monthly security monitoring fees that are incurred.
Computer Software: Any software you need to help run your business in a tax deduction.

Internet: Most home businesses today require the use of the internet. You can deduct the percentage of your bill used for your business.

Professional Subscriptions: If you pay for any industry related subscriptions, you can deduct the cost paid.

Education and Training: You can deduct some education and training expenses.
Car Expenses: If you own and exclusively use a separate vehicle for your business, then you can write off that vehicle. If you use your personal vehicle you can deduct mileage. If you plan to deduct mileage, you will want to do so with extra care. Keep a notebook in your car and document everything from the miles you drive to where you were going, tolls paid, etc.

Travel and Meals: If you need to travel for your home business you can deduct some travel expenses including airfare, rental cars, meals and lodging.

Insurance Premiums: If you are self employed and paying your own insurance premiums this is another deductible cost.

If you are a home business owner, you can see that there are numerous potential deductions you can claim on your tax return. If you have any questions on whether or not you qualify for a particular deduction or how to claim any of the above listed deductions be sure to check with a tax professional.

Wedding Hot List - TheMerryBird 2011 Wedding Moment

The Merry Bird...pen, ink and design is Named to the 2011 Wedding Professional Hot List

13 Jan, 2011 - MomentVille.com, one of the worlds leading wedding websites, has just announced that The Merry Bird...pen, ink and design has been selected for the 2011 Wedding Professional Hot List.

The annual Wedding Professional Hot List recognizes excellence within the wedding industry, as determined by reviews from tens of thousands of brides and grooms. The Merry Bird...pen, ink and design was among the best reviewed vendors in their area in the past year.

"The Wedding Professional Hot List recognizes best of class wedding professionals." said Geoff Evason, MomentVille's CEO. "Highlighting the success of the top wedding professionals is an exciting way to spread the word and help newly engaged couples find the right professionals for their own weddings."

About The Merry Bird...pen, ink and design now TheMerryBird.com DesignsUnique hand drawn and graphically designed motifs for invitation/card design for your wedding or special event.

About MomentVille
MomentVille.com offers engaged couples and wedding enthusiasts a one stop place for planning and sharing a wedding. Offering personal wedding websites, wedding planning tools, a gorgeous gallery of wedding pictures, a searchable list of reviewed wedding vendors, and lots of helpful and inspiring wedding content, MomentVille helps newlyweds with all aspects of their wedding. For more information contact media@momentville.com

January is National Thank You Month

So, 2011 just crept in (or is about to) and you just remembered that you have the most incredible customers in the world! Where would you be without them? And, how can you express your gratitude to them from the bottom of your heart?

I have a solution...to begin, January 1 thru January 7th is National Thank Your Customer Week. I know there are many people to thank for the prosperous new years past and future, but take the time and send post card, blog about it, tweet it, facebook it, or hand write a thank you and postal mail it (and of course, if you want you can inquire about some of the TheMerryBird.com Designs limited edition fold over notes found in my Etsy shop!)

No better time than the present to smile at your customers and let them know you care! Of course if you have any ideas on how to express gratitude to your customers let me know by leaving a comment!

So what are you waiting for? Thank those awesome customers out there today and especially in JANUARY for NATIONAL THANK YOU MONTH!

Can you See?

Lately, life and world economy has many people feeling a little down and out, frustrated, confused. Check out this video link and see how your outward expressions can really make or break the day.

http://www.facebook.com/video/video.php?v=437968438298

Can you apply this to business? How can you make a difference out there?
I'd love to hear your comments!

November 1-7 is World Communication Week!

Yes, NOVEMBER 1-7 is World Communication Week and by definition Communication is The exchange of thoughts, messages, or information by speech, signals or writing.

You know it's an excellent time to be on twitter, facebook and linkedin to perform all this "exchanging" of thoughts. Quicker than lightning and faster than....well...a speeding bullet. (Sorry Superman). Whether it be business, news, weather, friendship or searching......- online media beats traditional communication (phone, fax, postal mail) anyday.

The world is literally your oyster in November so reach out to your networks (and beyond) to communicate your business or other message. Twitter - Tweetdeck rocks for translating languages and FaceBook rules for building with friends! Leap into Linkedin's business network and promote your message - the world wants to hear it!!

Logo, Ad and Book Cover Design - TheMerryBird Designs

themerrybird@gmail.com

SEPTEMBER is Be Kind to Editors and Writers Month!

For the month of September 2010 TheMerryBird.com Designs is offering a 20% discount for Book Cover Design for Writers, Editors and Authors!...

Files are created in Adobe Indesign or other Adobe suite programs and will meet the specifications of your printer or publisher. Authors, Writers and Editors will receive a Free Hard copy print & e-file of the cover design upon contract completion.

For more info contact Kristine@ themerrybird@gmail.com

with BEkind2writersMonth2010 in the subject line. Pass it on to your favorite writer!

See "Your Online Stationery in Flight"

Making Sales on Facebook

The ever changing web will never cease to amaze me. We've come from direct email conversations to social media like twitter, linkedin and facebook. ALL of which are social mecca's online. Business' everywhere are honing in on where people want to be and don't want to leave, and Facebook is one of those prominent online places.

Socializing is important in building online friendships, trust and business, Facebook knows the key. With a massive following Facebook continues to strategize for businesses by incorporating the "shopping cart" right on the facebook page or profile. With more than 500 million users it's most logical to say that people are spending time online for social, academic and shopping purposes so why not make it easy to shop right where you like to be? (see websitemagazine.com sept. issue)

TheMerryBird Designs has already incorporated it Etsy.com Shop onto the MerryBird Facebook business page/see Etsy tab @ http://www.facebook.com/TheMerryBird.Designs . This makes it easy for friends and fans alike have the opportunity to shop as they view the business page. The only flaw here is that Etsy.com only allows sales of "handmade" items. This is ok for me since I offer hand drawn and custom designed stationery, but I lose momentum on etsy when it comes to offering my graphic design services. This is where it gets interesting on facebook for my business.

As sited from Website Magazine Payvement.com is moving in. Facebook offers this easy to install service which makes it easy for visitors to "shop"from FB. Payvment is TRUSTe certified, shares items, allows reviews, has options for discounts, ties into system inventory and saves addresses for fast check out anytime. Not bad for business.

I wonder where my .COM is going to be in the next few years.....


Kristine Sheehan, TheMerryBird.com Designs