Work from Home
Working from home is becoming increasingly popular. I work from home and I love it. I don't think I could ever work at an office again, but I must face the possibility that I may have to transfer my business into commercial premises if it keeps growing like it has in the last few years.
Even if parts of my business move out of home, I'll try to stay there myself as much as I can. The sorts of people who work from home include Brisbane web designers, SEO training consultants and travel agents.
Times are changing and working from home, particularly for the self-employed is becoming more common. It is pointless paying rent for commercial premises if it isn't necessary. Working from home has many advantages. You can work back late without getting into strife with your family. You can "drop into the office" anytime you like.
But as an accountant, there is one feature I really like, all the tax deductions! You can claim some of your household expenses on your tax return. Based on the floor area used for business purposes, you can claim mortgage interest, insurance, rates, water, electricity, maintenance and the bulk of your telephone bill as well as depreciation on the carpets, curtains, business furniture and so on. At the end of the financial year you will be surprised by the list of deductions.
You will also save on travel costs, wear and tear on your car and more importantly wear and tear on you, having not to deal with peak hour traffic or public transport. Not to mention picking up approximately an extra two hours per day of work when you don't have to travel.
There is a downside to working from home. The first problem is family distractions. Kids home from school at three o'clock, a friend at the front door, phone calls for other members of the family, the list of things to do from your spouse, the distractions can be endless. You also may not have the perfect workspace, or space may be limited. Work space is vitally important, you must have an area set aside purely for business, nothing else, just business. I have found that it's best also if you can close the door on the weekends so you can "leave work".
I think many of the perceptions of people that working from home is "unprofessional" have lapsed into history. The number of major companies that allow their workers to work from home via computers has increased enormously in recent times.
"Outsourcing" has become a commonly used term and this has brought about a spate of self-employed former workers, most of them working from home.
The other problem that many people working from home suffer is motivation and discipline. You must start work everyday just as you would if you were employed by someone else.
