Waypoint Realty Group LLC



Posted by Waypoint Realty Group LLC on 9/26/2019

If you are working from home or considering starting a new business at home, a home office is essential for what you do. But you don't have to break into a bank to create your own home office; you can instead use the things that you find affordable or readily available to creatively come up with something that is functional and effective for you.

  • Use Sunlight to your advantage: Place your desk and chair in front of a window and watch your creativity blossom. You are probably going to spend a large chunk of your time here, so you want to be as comfortable as possible. The window view also gives you an opportunity to take in the outdoors every other minute and reduce eye fatigue.
  • Give the walls a new look: Don't just paint the walls, paint them a color that suits you. What kind of color expresses your style and will increase your productivity?
  • Find a comfortable chair: That goes without saying. Don't sacrifice function for form. The chair design you saw on Pinterest may look great in photographs but may be bad for your back with long-term usage. You want to make sure that you have a chair that is ergonomically correct 
  • Add some touch of greenery: For some reason, plants make the atmosphere of any room feel better, so you should add some greenery to make the office more comfortable for you. Look out for plants that you donít have to water every day, that way nothing dies in your absence.
  • Make the space personal: Frame up some of your favorite quotes for the wall, or place pictures of your family on your work desk. Make it as distinctive as possible, so that it reflects you and your style in every way. Choose accessories that will add to the feeling of comfort you want to recreate. 
  • Put the little spaces to efficient use: You are probably not going to have as much space as a regular corporate office, so you should aim to take every advantage of available space. Use floating shelves to keep papers and office equipment away from your desk. You can get a basket to hold all your working files and to-do lists instead.

Whatever intentions you had for setting up your office at home, make sure itís something more than a regular chair and table set up in the guest bedroom. You want to be as comfortable and at ease, as you can be. You also want your workspace to inspire productivity and be presentable enough to stage an official meeting if/when the need arises. Visit your local home improvement store for bargains on items that you may need




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Posted by Waypoint Realty Group LLC on 9/28/2017

Major corporations arenít the only entities that save big on taxes each year. As someone who works from home, there are deductions that you can take that could save you lots of tax dollars. Home office tax deductions change. For this reason, itís important to stay current on allowable deductions. Itís also important to keep detailed records and receipts.

See if you qualify for these home office deductions

Your greatest tax savings will probably come if you are a sole proprietor, meaning that you operate your own business out of your house. Following are general deductions that you could be eligible for:

Usage of part of your home - To take this home deduction, you must use a portion of your home solely to conduct business out of. You could also be eligible for the deduction if you meet with customers at a place in your home. Examples of this include operating a daycare or a hair salon out of your house. A room that's attached to your house could also qualify as a deduction if this room is used for business.

Maximum home deduction - Your home deduction generally cannot exceed the amount of income that you generated through your home based business. If your deductions exceed the amount of annual revenues that your business generated, you may have to reduce the amount of deductions that you file.

Forms - The Schedule C and Form 8829 are two documents that are used to file home deductions. Form 8829 is used for regular home deductions.

Office supplies - In addition to taking a deduction for using a portion of your house to conduct business, you could deduct office supplies like the cost of a printer, computer, office desk, chair, filing cabinets and ink and paper. Mailing envelopes and file folders are other types of office supplies that you may be able to use as a deduction.

Travel - Flights to meet with clients and prospects or to speak at business conferences could qualify as a deduction. As a safeguard, keep a copy of the event brochure or itinerary with your flight, hotel and meal receipts. Additionally, you might be able to deduct mileage costs. Again, the travel needs to be used to conduct business.

Marketing - Keep receipts of money that you spend to market your business. These expenses could be deducted from your home business revenues. Included in marketing deductions is the cost of postage stamps. Consider working with a reputable tax preparer to review deductions before you take them.

As with any tax deductions, check with the IRS to confirm that you are eligible for a home office tax deduction before you take the deduction. Make sure that you have a record that confirms a purchase you made before you list it on your tax return. Also, ensure that you use the proper tax forms. For example, if you were paid to perform services for a client, you may need to file a 1099 Form. You also make need to file a Schedule C to list out your home office deductions.







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