Incorporate New Mexico

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Tax Tips for Home Based Businesses
By Donnie De Loney

Included here are a number of ways for Home Based Business Owners to save money on their taxes.

1. Keep your business home based: Not only will you be at your work place (home) but it will give you opportunity to use your home as your place of business and you will be able to deduct part of it on your taxes. Also, when you work at home you can arrange your hours to suit you.

2. Divide your income: You can pay reasonable wages to your spouse and children. In doing this you can legally divert income taxed at your higher rate to your family members that are in a lower tax bracket. It not only makes sense but it also makes dollars for you.

3. Incorporate Your Business: One of...
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