Opening a home office is a big deal, nothing else has more potential to make or break your life, and bank account than this proposition. The benefits are clear, but getting off on the right foot is imperative.
Here are some suggestions to help you on your way:
1. Office supplies are going to be a concern as well. You should keep track of what you are using for the various projects you are doing and keep all the receipts. Whether your home office is for a home business or if you are telecommuting, having what you need handy will keep you from having to work late while still at home. That's irony at its cruelest.
2. Taxes are important to us all. Your home office is almost as good of a tax write off as a child. Most tax laws in most countries provide tax credits or breaks for office space, supplies and renovation. Check with your accountant on what you can and can't write off as there are often specific criteria that have to be met. If you already are an accountant, I need some tax help this year myself.
3. Time is the other big factor. You might have to strike a balance with work and home since work is now AT home. Keep track of your time from project to project and make sure you're not spending too much or too little of it doing what you have to do. The whole point of working from home is to be productive but still have more personal time. Pay attention to it.
A positive & proactive retired Major from Pakistan Army. MBA from IBA,Karachi University.Presently, Head of Business Administration Department in Minhaj University, Gulberg Campus, Lahore. Member HR Forums at Lahore, Pakistan.
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