The Benefits of starting a home business

Many people would like to work for themselves. Although it is not for everyone it can be very lucrative for those people that can successfully pull it off. I grew up in the home of an entrepreneur of thirty-five years. At times money was short and at other times we had an abundance of resources. We enjoyed the fact that dad owned his time and was available when we needed him.

The greatest benefit of starting a home business is the freedom that it allows for the business owner. No one who has started a home business will tell you that it was easy or that the hours were short, in fact the number of hours put in weekly by successful home business owners far exceed those of the typical 40 hour employee week. Notice though that I continue to include the word 'successful' before home business owner, because there are plenty of home businesses that are started and terminated within the same year. On the other hand, there are plenty of stories of successful home business owners who have taken their idea and built it into an empire to be respected. Then certainly, there are enough stories of people that have started a business in their home and made a very comfortable living for themselves and their families.

If you have a desire to be free to determine your own destiny and also your own worth you may find a home based business to be a good place to begin. Desire should build within you a determination to build a successful entity. Once you have a determination to succeed, you must also find an idea that can be developed into a home business.

Once you have that business in place you will enjoy benefits that are not enjoyed by the typical W-2 employee. One such benefit is the ability to deduct reasonable business expenses through the use of a Schedule C on your sole proprietor 1040 form or 1065 form for LLC's and partnerships. These expenses may include things such as space in your home, mileage on your vehicle's business miles, part of your homes utilities, as well as furniture and equipment used for business. You may also be able to deduct your families self-purchased health insurance and medical expenses.

There are many benefits to starting a home business, but the best benefits will be developed in your own mind as you are beginning the process of exploration that precedes business formation. Good luck in your pursuit of freedom and self-worth. As a business owner myself I can say that it is well worth the sacrifices.

by Shane