If you have always dreamed of having your own business, you may be tempted to have a home office. While working from home does have some benefits, there are certain things you may want to consider. Here are three ways how having a home office might make things harder for you.
1. Keeping Your Work Life Separate
If you are married and have children, keeping your work life separate from your family life might be more difficult to do if you work from home. This is especially true if you have smaller children who might not understand why they can't see you or do things with you while you are at home.
Another reason it may be hard to keep your work life separate is if your business entails getting customers and clients. Inviting them to your home office might not be ideal, and it may not be as professional. If you want to be credible with customers and your associates, it's best to keep your workplace entirely separate from your home.
2. Claiming Tax Deductions
Having a home office might make your life more complicated when tax season rolls around. Entrepreneurs that work from home are often more likely to be scrutinized more closely by the IRS. In fact, claiming a home office deduction is one reason the IRS will audit you. Besides that, if you work from home, there are certain rules you need to closely follow when it comes to filing your taxes for your business.
For this reason, it's imperative for you to keep your personal records completely separate from your business records. This can make it difficult to do if you have a home office. If you do decide to work from home, you may need to hire a professional who offers tax services for businesses. They will know all the updated rules and regulations regarding home offices during the next tax season.
3. Getting Out to Socialize
If you work from home, chances are you will also eat all your lunches and take all your breaks at home. While this might be convenient, it's not ideal when it comes to marketing your business. Taking clients or business associates out for lunch, or meeting them for coffee, is a great way to network and meet other professionals.
Besides making it harder to get out and socialize, working from home might make it harder to find potential customers, not to mention, you might end up feeling lonely.Share