shop  Here is part 2 of why to run your woodworking business from home.

2. Tax benefits: Listed below are several tax benefits available to home based businesses. Each one should be reviewed and explained further with a tax professional.

  • You can claim a home-office deduction.
  • Office supplies.
  • Software and subscriptions.
  • Furniture.
  • Other Equipment.
  • Telephone charges.
  • Insurance premiums.
  • Utility charges.
  • Mileage.
  • Travel, meals, entertainment and gifts.

Look up each of the above on a Schedule C Tax Form and see how muck you can be saving on running your woodworking business from home.

**This post provides general information about tax laws and consequences, but shouldn’t be relied upon as tax or legal advice applicable to particular transactions or circumstances. Consult a tax professional for such advice