There are obvious pros to running a home business and working at home, such as not having a boss to micromanage you and not having to commute through that morning traffic. But, there are quite a few other advantages that are not quite as apparent. There are many expenses that a person working outside the home has to deal with, including many that you might not pay much attention to.
When working outside the home there are costs associated with buying and maintaining career clothing. These costs include of course the purchase of a wide variety of work clothes, which often have to be updated every year. But there are also the costs of alterations, dry cleaning and the time and transportation costs associated with those. Over the course of a year it can add up to quite an expense.
Another major expense for some, of course, is childcare. Even an inexpensive childcare facility can be $500 or more a month for childcare for only one child. Imagine the cost of high-quality care for one year. People with multiple children are often simply unable to afford this expense and opt to start a home business to avoid it.
The commute to work, even if it’s a relatively short distance away, is still costing you money. As fuel costs continue to rise, along with automobile repair expenses, the commute to work is getting more expensive by the month. The wear and tear on the car is an expense that often costs just as much as the fuel when you tally the oil change and repair costs. To be able to do your work from home is an amazing savings on commuting expenses, leaving you with a higher profit for your time.
Many people also benefit from the home office deduction, which is a nice savings on income taxes. The deduction allows for the expense of the portion of your home that is dedicated to the business, and makes the process of earning a profit even easier. With more money staying in your pocket, you can make a better profit with your business. Add to that the money you save from childcare costs, commuting costs and clothing, the amount of money you bring in with your home business counts for more than the amount you would make working for someone else. Even if you make only half what you did in an office job, much more of the money is staying with you, making your home business income higher than the income you had before.
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