With the power of the Internet in general and social media specifically, it has never been easier for an entrepreneur to make a great living from their laptop.
Once upon a time, a business owner would have to first conceive their product or service, then find a place to either manufacture or sell their particular widget.
But those days are dust.
It’s easy to see why commercial property vacancies have skyrocketed in the previous two years. Though many entrepreneurs flock to the obvious benefits of working from home, a small office or even their local coffee shop, there are other considerations that render working from your computer into such an alluring alternative.
Taxes and zoning are two of the biggest.
Zoning can be difficult for a business. When a business has a storefront, they must file paperwork with the city to ensure the service they’re offering is appropriate to that particular city grid. Yet a business owner working from their laptop, selling a service that can be downloaded or in some way delivered through cyperspace is free from such requirements.
With taxes, entrepreneurs may not enjoy the same suite of benefits as a brick and mortar businesses, but they do get their own category specifically devoted to them.
For example, a home based entrepreneur can deduct the square footage of their home office space as a legitimate deduction, along with any supplies bought to keep their enterprise running.
One word of caution – entrepreneurs wishing to deduct items such as computers or cars, should be careful to keep accurate documentation of both purchases and equipment, as such information is required by the IRS
Making a living from your laptop is not only possible, for many entrepreneurs it’s a dream come true.
