Four Things to Consider When Filing Your Taxes

Many people are finding themselves in a situation where they need to file their taxes and they don't know how to do it. There are so many different tax forms that you can be faced with and the IRS website has a lot of information about them, but not all of it is relevant to the situation you're in. The following are four things that you should consider when filing your taxes.

Home Office

1) If you have a home office, make sure that you include the space that you use as part of your income. This may seem like an obvious thing to do, but there are a lot of people who forget to include this space. 

It's easy to forget about the fact that you are allowed to deduct the cost of your office space from your income, and if you don't take advantage of this benefit, then you'll end up paying more than you should on your taxes.

Business Expenses

2) You also need to keep track of any business expenses that you incur. Many people will find that they have a lot of expenses that aren't directly related to their business, such as food or gasoline. 

If you don't have a good way of tracking these expenses, then you could end up paying a lot more than you should on your tax returns.

Self Employed

3) If you are self-employed, then you will want to keep track of your sales. You can get a lot of help with this by going online and looking at sites that allow you to keep track of your income. 

There are also websites that will allow you to keep track of what you spend on advertising and other marketing costs, and then you can calculate how much you've made.

4) Finally, you should make sure that you keep track of your mileage. If you're driving to and from work every day, then you can deduct the cost of your gas from your income. 

If you have a car that gets used for personal reasons, then you should still be able to deduct the cost of gas from your income.

Renew Your Home Office Equipment Without Losing Money

There is no better way to improve your working environment than renewing your home office equipment. Despite the idea being brilliant, doing it the wrong way may end up costing you a lot. That is why you need to come up with practical ways to do so. Some methods may require you to sell your iPhone while others don’t. 

The ideas below have proven to be very useful in ensuring you don’t waste too much money renewing or updating your home office equipment. You can use them to achieve your dream home office, inexpensively.

Go for affordable equipment

In case you have something that is completely damaged and needs a replacement, it is always a good idea to go for an affordable alternative. It may mean taking a second-hand chair or going for a new chair but one that costs a lower price. 

By doing so, you are going to have a piece of new furniture in your home office, and the good news is that it is not going to cost you a lot. When going for second-hand chairs, make sure you look out for any faults before purchasing. You want something that is in excellent condition for it to last longer.

Repurpose some things in your home

There are items in your home that are no longer in use. They are simply collecting dust in a corner somewhere. You may take these things, clean them, and see where they fit in your home office. 

For instance, you can take the shelf in your bedroom and use it as a work shelf where you keep your books and other working equipment. What makes this idea brilliant is the fact that you don't have to use any money but instead make use of the already available items.

Sell items you are no longer using

If you can't repurpose or reuse an item, you can sell them and get cash for specific office equipment. The first thing you should think of is to sell your iPhone. Platforms such as Sell My Mobile offer good cash for mobile phones such as iPhone 5s. 

That means you don’t have to worry about going through your bank account to get the money you need to renew your office equipment. The idea thus saves you cash while getting rid of phones that you are no longer using. It is a win-win situation, and the best part is that you get to update your home office equipment.

Trade with another item

Another method that works best is trading equipment for another. There are so many people out there who have what you want, and you have what they want. Figure out where to get those people. 

You may enquire from friends or search online. Once you find them, go ahead and make a trade. Doing so, you get to lose what you don't want for what you want. It is an excellent way of getting something you can’t get even if you sell your iPhone. 

It is also an easy way to update your office without losing money. What makes this method more difficult than that of selling your iPhone 6s is the fact that finding people to trade is somehow tricky.

The information above contains remarkable ways through which you can update your home office equipment without spending a lot. Some like selling your iPhone 5s or iPhone 6s can help you make the changes you need without spending your savings. 

The best part about each of the methods above is that they are not only convenient but also very useful. You have to apply them appropriately.

How to Work More Productively at Home

Whether you telecommute for work, or you have a part-time job that operates from your home, you could probably stand to boost your at-home productivity some. Increased productivity means less time working, and more time bonding with your family, pursuing hobbies, developing new skills, and more. 

So what are you waiting for? 

Here are some tips on working more productively, even while you’re in the comfort of your own home.

Separate your work life and home life.

As tempting as it is to multi-task by completing work assignments and home-related tasks simultaneously, maintaining a strict separation between the two will allow you to give your full, undivided attention to whatever it is that you are working on. 

Separate your work life from your home life by designating a particular space for work (and only work), defining precise work hours, or even using a different cell phone for your work purposes.

Set up an at-home office.

The ultimate way to separate work life from home life is to set up an at-home office. As this article about highly practical furniture details, investing in the right furniture can make all the difference in your everyday life. 

Creating an at-home office grants you the luxury of having a space that you love working in, that is tailored to the particular work you do, and that eliminates as much distraction as possible. You can set up a home office in a spare room in your home, in the space underneath your stairs, or in just about any nook you can find in your home. 

Just be sure that the space you choose primarily remains a work-space and doesn’t evolve into a personal space.

Schedule out what you plan to accomplish.

Don’t simply write down what you plan to accomplish at the beginning of each day; schedule it out. Writing out the tasks you hope to accomplish each day, and assigning an allotted time to each of these tasks, will motivate you more deeply to actually complete the tasks you’ve set for yourself—on time. 

You’ll become better and better at this with practice. Remember when scheduling out your tasks that you should base allotted time on the time you actually spend working, therefore eliminating time for breakfast and lunch, relaxation, etc.

Plan out your breaks.

It’s important to plan out some down time throughout your day as well, as your mind will need time to rejuvenate after extensive periods of heavy thinking. Plan on setting aside a small pocket of time every hour or so, when you can take a quick walk away from your work area, have a snack, check your email, check social media, etc.

Monitor ambient noise levels.

Sure, you probably already knew that excessive noise coming from other areas of the home is sure to be a major hindrance in your workday. But did you know that an adequate level of ambient noise can actually help you to be more productive? 

This is the premise that sites like Coffitivity work on, providing site visitors with an endless stream of ambient, coffee shop style noise to work to. Hey, you might even find that it’s useful to visit your local coffee shop once or week or so to draw from the natural ambient noise there.

Remove your distractions.

Of course, there are some distractions that you can and should eliminate as you work from home. If you have a home office, keep your door shut as you work, which will alert others in the home to how you are working and cannot afford distraction (not to mention keep pets out). 

If you’re often guilty of spending extended periods of time looking out the window, make sure your desk isn’t oriented in such a way that the window is in your immediate view. If hunger is a major distraction, keep a small arsenal of wholesome snacks on hand that will keep you satiated until lunchtime or quitting time. 

Learn to recognize what distracts you from work, and develop your workday routine around eliminating those distractions.

Act like you are going to work.

As the tips you have read thus far suggest, one major key to working productively while at home is this: act as though you are going to work when you work from home. If you need to dress up for at-home work to get yourself in the right mindset, do it. 

If you need to maintain a separate laptop and phone for work-related things while leaving your personal electronics out of the home office, do that too. Find what gets you in the right mindset for getting work done, and make it a regular part of your workday routine.

Knowing Your Options when Purchasing Office Furniture

Needless to say, different offices have different requirements. Nonetheless, there are some standard office furniture fixtures that are normally used in Australia and elsewhere. The office desk is one such fixture. For most people, their desk serves as their primary workspace, an area where they can type, write, read, compute and answer the telephone. Moreover, across office desks, interviews can be conducted and meetings can be held.

Office furniture suppliers, like Progressive Office in Melbourne, sell desks made from metal, wood, glass and plastic. In most instances, unless it is a specialised "computer desk", a desk will include a horizontal work surface -- which might hold a monitor and computer -- and storage. Specialised computer desks might not provide storage. Desks that do offer storage might have a drawer with inbuilt compartments, designed to hold office supplies, whereas other drawers might have space for files and stationery.

Hutches might be available with desks as well. Hutches offer storage space and usually, they have room for CDs and books, with some letter-sized shelves where projects can be kept. Some have cabinets too. Desks have several distinctive shapes. Frequently, they are oblong, however they can be U shaped or L shaped.

These days, there are four substitutes for desks that are commonly used. Computer stands and computer carts -- compact furniture fixtures that hold a monitor and computer -- can function in place of desks, where space permits. These office furniture items are designed to maximise the use of space. Often, these fixtures are on wheels and can be moved if required. Typically, the carts include some additional storage space, but the stands do not.

Furthermore, armoires have been adapted from their use as pantries or storage cabinets into computer centers. These fixtures combine the advantages of computer cabinets with extra space, and lots of armoires are able to conceal everything they store behind their doors. For a home office, this can be very useful. Finally, some people discover that tables work for them as desks, as well as staging and meeting areas. This can be an appealing option for home offices too, because tables can be used for multiple purposes.

The obvious office furniture item to accompany the desk is the chair. Progressive Office in Melbourne sells numerous types of comfortable and affordable chairs for offices. Executive chairs are the most costly desk chairs, and usually feature leather upholstery. Typically, compared to other chairs, these have more adjustments and higher backs. Managerial chairs are less visually impressive than executive chairs, but the ergonomic design is the focus. Specialized chairs with additional height to fit drafting tables are available with footrests, and with arms as optional extras.

For storage purposes, office furniture can take the form of cabinets (including filing cabinets), shelving and bookcases. These come in a range of materials, such as resin, wood, metal and laminate, and in numerous styles and sizes. Coat racks and meeting tables are two other furniture items that can complete the look of an office. 

5 Ways to Make Your Office Functional and Stylish

Let's face it, a workplace or home office can be rather dull and boring at times. In addition, how the office space is organized can cause more headaches than efficient actions. That is why it is important for a worker to establish ways that can make their workplace or home office functional and stylish. This will help increase efficiency and can help stimulate the worker's mind during their work day. Here are 5 ways to make a workplace or home office functional and stylish.

1. Layout and Space

One of the most important dimensions to any workspace is maximizing and using the layout and space of a work area. All of these factors will depend on the particular workspace, but if a worker has walls, a high ceiling, and different paths to enter the work area, these factors should be taken advantage of. Use walls to have hangers or cabinets and take advantage of high ceilings and walls by putting in bookcases. Always clear the paths that enter the work space so the worker and other workers can walk by the work area without hindrance. For example, do not have file cabinets, scanners, fax machines, or computer parts in the way of someone's walking path. Committing to using the work layout and space to one's advantage can neatly organize the office.

2. Lighting

Lighting is essential in any office, but the workplace or home office might not have the most effective lighting sources. Try buying desk lamps, floor lamps, or table lamps that can help brighten up the workspace. This will allow the worker to read text easier and the bright light can help energize the worker, improving their cognitive skills. It is also important to have natural lighting in the office, since this can help to improve health and the mood in the office.

3. Use Stylish Office Materials

Sometimes the typical desk and office products can be somewhat dull to the eye of a worker. Luckily, many office supply companies use unique materials to produce the usual office supplies and furniture everyone needs. One great example of this is acrylic plastic. This plastic is not only used to make office supply products like rulers or signs, but it can also be used to make chairs and desks. Acrylic has the appearance of glass, but is lighter and more malleable. This is just one alternative substance a worker can use for their office that will be different than the typical metal desk and office supplies.

4. Ergonomic Choices

Many people are unable to work properly because the office chairs they use do not help their back or posture. This can seriously affect cognitive capabilities and physically harm the worker from day-after-day of bad seat use. Ergonomic chairs help workers use a chair that can help their posture and back, relieving any dull pain that could arise from sitting in the chair all day. This could increase a worker's cognitive capabilities and help the worker work more efficiently.

5. Personal Items Throughout

One way to make the workplace or home office feel comfortable is to adorn the office with personal items. These items may include pictures on the desk, frames on the wall, hand-crafted items, like a hand-made basket, placed across the office, or achievement items, like certifications, diplomas, or pictures from big events in one's life in the office. This can help the office feel more like home and influence the worker to dedicate their time more effectively toward their work while they are in the office.

Work offices do not have to be dull or boring. Whether at work or at a home office, it is important to personalize the office while purchasing appropriate and dazzling products that can increase the worker's efficiency and cognitive health.

Top 10 Tax Tips For The Self-Employed

(Photo credit: patrick h. lauke)

Self-employment is a tough road to go down, but luckily there are a few things that you can benefit from. Self-employed individuals will have a different tax status to those who are employed by someone else. As a result, you are going to want to take a look at your taxes and see what you can do when it comes to making the most out of your situation.

Determine Your Net Income

Your net income is the income that you receive after all of your business expenses have been deducted. This can be done after a year of working to determine what you are most likely to earn.

Keep a Record

Make sure to keep a record of everything that you earn. Knowing how much you earned every week or month will allow you to figure out the proper rate at which you will be taxed.

Calculate Estimated Tax

Try to determine what percentage of your tax you are going to have to pay. Deduct this from your net income and you will have an idea of how much you owe.

Expenses for the Home Office

If you have a home office, then you will be able to make it a tax-deductible business expense. Remember that you are not able to deduct more than your net business profit.

Get an Accountant

Having someone to take a look over all of your expenses is a great thing. On top of this, you can also deduct what you pay from your accountant as a business expense.

Remember to Report

Making over $600 from a client means that you are going to have to report it to the IRS. When this happens, your client is going to give you a 1099-Misc.

Set Up a Separate Account

Get a separate account where you will be able to put all of your estimated taxes in. This is much easier than scraping for the money at the end of the year.

Keep a Track of All Business Expenses

Business expenses can include anything that you use in order to carry out your business. These can include your computer, your desk, your phone and your Internet connection. Make sure to keep a track of everything in this regard.

Remember to Pay Quarterly

You do not pay your taxes on a yearly basis. Instead, you pay every quarter of the year. This means you have to make sure that you have everything organized.

Keep Everything Together

Get files for all of the necessary expenses and tax records that you are going to need. Organizing all of this properly will ensure that you know what is going on when the time comes to pay.

Being self-employed can be difficult for many reasons, but it is always a good idea to keep on top of your tax returns. There are a number of things that you can also do for tax relief, so make sure to take advantage of them if you can. This way, you can ensure that you make the most out of being self-employed.

If you are interested in more tax relief tips, the author recommends you visit OptimaTaxRelief.com

Why Home Based Entrepreneurs Prefer Virtual Office

Corporate downsizing is still a major issue all around the world and the Internet has made telecommuting a more promising option for employment. More entrepreneurs are making the decision to run their own business from home. Working from home has many benefits; giving you more time with your family as well as a more stress-free lifestyle. Working from home is the right decision for many people and below, we will discuss how working from home can benefit you. 

Cost Benefit 

One benefit from working from home is cost. When you work in an office, you have to dress a certain way, lunch away from home and commute, all of which cost money. By working from home, you eliminate this cost. You also have a tax advantage. Working from home gives you the ability to deduct part of your home operating expense as well as depreciation expenses as part of your business expense. This varies depending on where you live but can include the mortgage, property taxes, utilities, insurance and other expenses. 

Less Stress/Personal Freedom 

A major draw to working from home is less stress and personal freedom. With a work at home position, you have the ability to obtain a stress free lifestyle. You have no pushing deadlines or certain time you must begin work. You can start at your leisure which means no mornings run around your home acting crazy before heading to work! You also have more personal freedom. You have the ability to dress how you want, work how you want, etc. If you need an off day, you take one! You are your own boss so you can make your own decisions! 

Flexibility 

You also have more flexibility in your life. When you work a nine to five job, you have to schedule your life around your work. When you work from home, you have the flexibility to schedule your work around your life. No more missed kid functions or birthday parties. You have the ability to set your own schedule as you see fit, which allows you to be flexible with every day activities such as doctor visits and dance recitals or big events such as vacation or weddings. 

Relaxed Environment 

Working from home also provides you with a relaxed environment. You do not have to work alongside anyone so there is no competition or spitefulness which can take place in the office. There is only happiness! You do not have a boss breathing down your neck, watching your every move. You can act how you want and do things when you want. This freedom allows you to be more relaxed and feel better physically and mentally.

 

Creative Outlet 

Once you have created your own home based business, you will realize that you have a creative outlet. You will be able to take the hobbies that you love and enjoy them. Take what you know and what you are passionate about and use it to make money to support yourself and your family. 

Professional Growth 

As your own boss, you will be taking on more positions, such as the marketing manager, sales, strategist and more. These roles will prepare you for higher positions, which allow you professional growth. You will quickly see that you have gained knowledge in many aspects of business which can help you gain a new position or expand your business in the future. 
As you can see, working from home definitely has its perks. Take a look at your current position and you may see that working from home is an option. Research the possibilities and take a leap of faith to try working from home on your own! 
The above mentioned important factors that make the home based entrepreneurs , choose virtual office. Visit the site Servcorp Virtual Office for additional information on virtual office.