Take advantage of the deductions available to you as a small or home-based business. A taxpayer's principal place of business can qualify as a tax deduction based upon the relative importance of the functions performed at the location and the amount of time spent at the business location. Other deductions can include the use of personal automobiles, furniture and equipment, portions of the mortgage or rent payments and portions of the electric, gas, phone, cable and water bills. The IRS makes numerous publications available to the taxpayer at no cost to aid in understanding tax deductions and regulations. Starting A Business.
Guides are available on practically every subject.
Consult your CPA or local tax authorities for specific recommendations appropriate to your individual situation.