The most vital thing to remember when running your business from home is to document everything! You should keep all receipts and tax invoices, even though they may seem insignificant, together they may just add up to help you deduct a substantial amount from your gross income and thereby significantly reduce the amount of tax that you re liable to pay.

The optimal way for you to achieve the best tax rewards for your home business is to substantiate everything you think will be deductible, but to also have a proactive accountant.

A proactive accountant will not only do the number crunching, but will look at your records and advise for and against deductible areas in your business. This way you will ensure you get the most from your home business.

If you would like to speak with one of The Quinn Group’s many proactive accountants about how you can legally claim the maximum deductions for your home-based business or for any other tax or accounting queries contact us by calling 1300 QUINNS or click here to submit an online enquiry.

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