or franchise fees may be claimed as a deductions.

Home Based Business Tax Deductions Managing a home based business reaps many wonderful tax deductions that other manufacturers sometimes may not claim. Unfortunately to a lot of small businesses end up paying the government taxes every year since they're unaware or several small business deductions that are offered.

Most of the time any expenses which are related to your business could be added as a deduction in your taxes. If you do not pay taxes through the entire year, deductions can help you from paying a large amount of taxes each year and may also adjust earned income. Try to avoid paying considerable amounts of taxes or owning anything by keeping track of simple things!

Each business is a little different so make sure to mention these suggestions to your tax adviser or accountant to see if your business can be eligible for a these deductions.

1- If you join any business or purchase into any franchise, the price such as kits, or franchise fees may be claimed as a deductions.

2- Business Supplies. Make sure to save all receipts for just about any supplies you purchase for your business use. Computer paper, business card printing, pens, catalogs, or any items you purchase and use for your business.

3- Advertising- Most advertising can be claimed in your taxes. Keep all receipts for just about any newspaper ads you might run, or any advertising you do online. Advertising is a business expense and in most cases can be written off.

4- Items Given Away- Have a list of any items you may give away, and the costs of those items. Most freebies may also be wiped off.

5- Phone bills and internet access- If you have a phone line for business use or have the internet in your home or office for business use, save all receipts for every bill paid. These things are business expenses and can also be written off.

6- An in home office- For those who have an office in your house, make sure to let your tax advisor know. Using a room in your house as an office may also be added on taxes.

7- Long distance calls- If one makes any long distance calls which are associated with your company, make sure you keep all phone bills showing the calls and also the amounts charged. If these calls are related to your projects, the cost of the calls can also be wiped off generally.

8- Returned Checks and Bank Fees. If you incur and bounced checks from customers and can not collect on them, those amounts may be deducted, along with any fees you were charged out of your bank. Be sure to keep the returned check, the letter from your bank and your bank statement to exhibit the charge you were charged.

9- Postage- All postage costs paid by you or shipping fees might be claimed. Keep receipts for those shipping supplies, and postage.

10- Computers- If you purchase a new computer for business use, the cost of the computer may be claimed. You may even claim depreciation for Three years after the computer was purchased.

By: D. Vickers

Proud work at home mom of four that has found success working at home having a home based candle business. Find out more about working at home on our home business blog!