I'm still new to hubpages so I apologize if this question has already been asked. I haven't had the time to search the forums throughly. Over holidays I was wondering if any fulltime hubbers/bloggers own their own business. The reason I ask is that by writing from home one essentially uses their home office for business and can technically deduct things like internet connection and even rent as a business expense at tax time. I think to do this one has to actually own a business like a LLC. Can anyone provide any insight?
I work as a full-time home-based freelancer. I am able to deduct a portion of my expenses, like Internet, etc., but there are a number of IRS rules about it. I haven't had to form an LLC.
I don't have an LLC but I know I can deduct home expenses as I work at home. However some of them I avoid even though I have the right to because they raise red flags.
Irohner, did you read in my other thread how I'm not getting emails in my contact link?
I never got the one you sent, so please use the contact form in my tourist site you can find on my profile. Thanks.
Work-at-home expenses usually do raise red flags, and you can take that from someone whose Dad worked for the IRS for 40 years.
But...I make the deductions reasonable, I don't try to pad things and I don't fear audits -- so I do take the deductions.
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