These days, almost anyone can start a home business. The opportunities are there, and many of them do not cost a bundle to get started. The IRS is even favorable to home-business owners—and the self-employed—enabling you access to a wide range of tax deductions.
Many tax deductions for a home-based business are available. The IRS allows you to deduct nearly any expense—as long as it is directly connected to your business and the goal is to make a profit.
Your business does not even need to be registered with the IRS to claim home-business tax deductions. You can claim sole proprietorship, which means you are the owner and you are actively engaged in the business. Or, you can register your business as an LLC (limited liability company) or some other corporate formation. Check with local authorities. It will also depend on whether you are local or not….