Free From Broke

A Personal Finance Blog for Regular Folks

Business

Blogger Tax Deductions You Can’t Afford to Miss!

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At first glance, it may not seem that you are spending a great deal on your blogging endeavors.

However, the fact is that blogging does cost money.  And, if you are making income from your blogging, you might want to offset some of that with the help of tax breaks for your costs.

Before you go claiming tax breaks, though, it is a good idea to double check to make sure that the items you claim truly are related to your blogging efforts.

If you are looking for some blogger tax deductions, here are some things to consider:

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Moving Abroad to Maximize Self-Employed Profits

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You might have had this happen:  You decide on a great business idea and launch your business.  You nurture it from the beginning, investing your time and energy into it.  You know you have a good idea, and business is growing.  But it’s not growing enough to support you–yet.

If your savings is dwindling, what choice do you have?

Sure, you could throw in the towel and close up shop, but you know this business has potential, and every month business is steadily increasing.  You don’t want to walk away.

Another more radical idea may be to move to an area with a cheaper cost of living. 

My husband and I have thought about doing this.  If we move away from the suburbs of the major city we’re living outside of and move to a quieter area, my freelance money would go much further.

But what if you want to be even more radical?  What about moving out of the country? 

You could move to a country with a much lower cost of living than anywhere in the United States.  Not only would you be able to live off your business income, you’d be able to save, too.  When you move back to the United States, you’d have a nice cushion.

Sound tempting?

Making Your Profits Grow By Moving Abroad

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Is Telecommuting Bad for a Company: A Look at Yahoo!’s Decision to Ban It

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Several weeks ago, Marissa Mayer’s decision to send a memo to all Yahoo! employees letting them know that effective June, 2013, there would be no more telecommuting allowed set off an Internet fire storm.

A barrage of articles hit the web arguing everything from the fact that this memo would not be an issue if Mayer was a man instead of a woman with a young child to the fact that this decision could spell the beginning of the end for Mayer’s career and Yahoo!.

Now that the dust has settled, so to speak, and emotions have cooled, it’s time to take an objective look at the decision.

Is Telecommuting Beneficial to a Company?

On the surface, it appears that telecommuting isn’t really beneficial to a business.

Having everyone working in the same building where they can be watched and where they can interact with one another seems best, which is Mayer’s argument.  But is it best?

There are three distinct advantages for companies that allow their employees to work from home at least part of the time:

Performance

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New Options for Taking the Home Office Tax Deduction

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Even as you gather your documentation to prepare your 2012 tax return, it’s time to look ahead and begin planning your tax situation for the next tax year.

One of the things to consider as you plan for this year is the new option for taking the home office tax deduction.

There are a number of tax-deductible business expenses that you can claim with your home business.  One of those is a deduction for the cost of the space you are using in your home.

If you plan to take the home office tax deduction, you are required to fill out Form 8829, which consists of 43 lines and can include depreciation and carryovers of deductions you haven’t used.  In some cases, the IRS even acknowledges, figuring the deduction can be a bit complex.  Plus, if you make mistakes on this form, it can red-flag your return for an audit.

Recognizing that home offices are becoming increasingly popular for the growing number of self-employed taxpayers, as well as for telecommuters, the IRS has released an optional method of claiming the home office tax deduction.  It comes into effect this year, in 2013, so you will be able to claim it (if you choose) early next year when filing your 2013 tax return.

New Option for Claiming the Home Office Tax Deduction

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How to Blog and Make Money – 5 Ways to Use Your Blog to Make Money

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By now, many have recognized the potential for blogs as a money maker.

While many people don’t actually end up getting rich off their blogging efforts, there are some who manage to build home businesses around their blogs — or at least use their blogs to make a little more money from their business efforts.

If you are looking for ways to use your blog to make money, you might be surprised that it isn’t all about affiliate marketing (although that can certainly be part of it).  The big question of course is how to blog and make money?

Here are 5 ways that you can use your blog to make money:

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