Immigrants Thrive

Having a work-at-home job not only offers convenience and flexibility but also benefits from the number of taxes you can write off. Apart from the space, there are several other things you may not know about that qualify for tax deductions. These are:

1. Home Office Expenses: A home office is considered as space exclusively used for doing business. You may deduct a portion of your expenses, such as, rent, mortgage, insurance, utilities, real estate taxes, and home repairs and maintenance costs, etc. while computing for your taxable income.

2. Office Equipment:You may also deduct home office equipment such as tables, chairs, computers, printers, telephone, and other equipment necessarily used in doing business. To qualify, any equipment must be used more than 50% of the time for your business.

3. Business and Office Supplies:The IRS also allows the deduction of business-related office supplies such as printing paper, pens and any other stationery used in the normal course of your business.

4. Software and Tech:When your work requires the use and access of online software, you may include this as deductible expenses as well.

5. Marketing and Advertising Costs:When you use radio, print or online ads to advertise your business, it forms part of your marketing expenses you may deduct from your taxable income. This also includes business cards or any other materials you use to promote your business to clients.

6. Learning: any training, workshops, webinars, conventions, seminars, needed to grow your business may also be deducted. When you need to purchase training modules and books, you may include them provided they are needed to improve your skills in conducting the business.

Do you know any other taxes you can write off when you work from home aside from our list above? Share it with us in the comments section below.

In this episode, we discuss a most frequently requested topic, CAREER ADVICE. Many parents encourage their children to pursue careers as DOCTORS or ENGINEERS.

Parents, without a doubt, wish the best for their children. But in today's world, what you study is not as important as your ability to set up a career path and follow through for success. If you do this right, you can be anyone or anything you want to be

Join us as we discuss how to create a purposeful, fulfilling, and influential career as well as how to improve your relationship with money.

Link in the first comment, listen, subscribe and share with a friend.

Also let us know what topics you want to hear us cover in the podcast.

Swipe left to know the ABCs of some financial terms.

August is going to be a great month because we are talking about the money mindset.

You are a millionaire or billionaire in the making however your mindset may be weighing you down.

Being rich is not always about money, that is just one half of it, mindset is what determines if you will fall under Rich Street or Poor Avenue.

As you read this caption, think about your money habits and the impact they have on your life.

Are you poor with a rich mindset due to your habits?

Your mindset is a big determinant in what direction you will take as it relates to wealth.

So let’s figure out where you are in this episode. Listen to it here: https://thrivewithfijeh.libsyn.com/rich-street-or-poor-avenue

Don’t forget to come back and share your comments below.