As a sole proprietor, you are able to deduct certain business expenses from your overall income. There are certain business expenses that you want to make sure you track carefully because the IRS tends to scrutinize these types of business expenses more closely.
#1 Home Office
One of the biggest expenses for most sole proprietors is their home office. The IRS has set it up so that you can deduct the portion of your bills, such as your energy, internet and even your mortgage, based on the percentage of your home that you use as a home office.
Raising a child on your own can be challenging, but it doesn't have to compromise your ability to remain financially sound. Managing your finances as a single parent can seem like a daunting task but by making a few simple changes in the way that you approach money-related issues, you can ensure that you are able to improve your current and future financial situations.
Here are three tips to keep in mind as you strive to create a realistic money management plan as a single parent.
Are you planning on starting a business based on computer technology? Do you need workstations, wireless internet, Voice over IP (VOIP) and other Information Technology (IT) department-powered systems to bring your ideas to fruition? A few tech investment details can help you understand the initial costs, maintenance costs, upgrade costs, and other financial key points before you take out a loan or lock in a budget.
Workstation Extended Costs
A computer's cost extends beyond the retail price, but can be managed to keep that maintenance and upgrade costs as low as possible.
Most people want to increase their wealth and ensure that they can provide for themselves and their family during different life stages, but few people have the skills or expertise to do this on your own. If you want to ensure that your money grows like it should, it is in your best interest to work with an investment advisor who can guide you. some of the top reasons to consider hiring an advisor include:
When young couples get married, they are making a major investment in their joint future. Often, they will decide to create a joint account that they can use to raise a large amount of funds. Here's why this is a benefit and how financial advisers can help.
More Couples Are Combining Their Finances
In the past, joint bank accounts were very normal. However, these were often a case of the bride combining her finances in an account that her husband owned.