Tax Tips For Your Home Based Business

The mission of the Virginia Department of Small Business and Supplier Diversity (SBSD) is to enhance growth opportunities for Virginia’s small businesses to prosper through increased revenue and job creation thereby raising the standard of living for all Virginians.  ContactVirginia Department of Small Business and Supplier Diversityfor business assistance, counseling and additional resources.

SBSD

The majority of businesses in Virginia are home based.

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In Recognition of Financial Literacy Month!The Virginia Department of Small Business &amp; Supplier Diversity (SBSD) in collaboration with the Internal Revenue Service (IRS) is pleased to offer this webinar to help keep you and your business out of trouble. You also want to make sure that you take full advantage of all of the tax savings you are entitled to.The majority of businesses in Virginia are home based. However, most business owners don&#x27;t know the tax laws regarding their home based business. Many owners tend to rely on well intentioned but uninformed sources. This webinar lets you get your information from the experts.Knowing the relevant tax laws can have a tremendous impact ton the success and sustainability of your business. The presentation will cover the following topics:<ul><li>Review the requirements to claim a deduction</li><li>Provide information on calculating the deduction </li><li>Explain how to determine the business percentage of home use</li><li>Discuss the types of expenses you can and cannot deduct, and</li><li>Explain where to deduct the expenses on your return</li></ul>You&#x27;ll be able to ask specific questions and get the RIGHT answer!!

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