By Joseph Palumbo III
One of the biggest concerns relayed to me by many Queens residents is job safety in the coming year. Do not take it lightly. It is scary with not many positive signs of improvement in the near future.
But what if you were told you could start working from home two to three days a week to help regulate costs? How would you get started? If you were to work from home, first choose the right spot to work from. It must be well lit, properly ventilated and without distractions.
You must still be productive. If your family, friends or roommates are present during your workday, situate yourself away from them. To eliminate daydreaming, place your desk so windows are behind you.
Have as many outlets and phone jacks as you need for the Internet, phones, a fax machine, lighting fixtures, etc. Be sure there is appropriate heat and air conditioning. Consider the type of furniture and furnishings you will need to organize your records, tools, supplies andâ„or inventory.
Be aware of your tax liabilities with the IRS. It will allow you to deduct expenses related only to the part of your home you use for business. This includes the mortgage or rent, floor space cost, utilities and furnishings for the areas you use for work.
You can deduct expenses for the parts of your home used as a daycare facility or to store inventory you sell in your business, even if you occasionally use those areas for personal purposes, too.
So How’s Business regarding setting up a home office? You will not have to complain about frustrating commutes or noisy cubicles. There are some financial upsides to working from home, too, like less wear and tear on your car and more taxable deductions. Working from home, however, takes some discipline if you want to stay successful. It can hinder your productivity rather than enhance it if you do not go into it with the right frame of mind and focus.
Reach Joe Palumbo at 516−248−0256 or info@camelotlimo.com.
