Have you ever wondered if working at home is the right move for you and your family? Never in our history has it been easier to run a business without a brick-and-mortar base. We never had the technology to meet face-to-face from hundreds of miles away. It saves money, saves time, and gives you freedom. Here are some things to consider while deciding if tax preparation from home is the right career choice for you.
Technology
With the introduction of Wi-Fi, professionals can access their cloud-based professional tax software anywhere. If you want, you can meet with clients in a hotel room and spend the rest of your workday on the beach. You can travel the world (just make sure you have the right electrical adapters before you plug anything in). Or you can stay home and spend more time with your family.
Expenses
With a home-based office, you don’t need to pay rent or a mortgage on a commercial building to house your business. You won’t pay water, sewer, electricity, heating and air conditioning, internet, or taxes on a commercial building. You won’t need to hire a cleaner to keep the place in tip-top shape for client visits or spend that time cleaning it yourself. With the commercial building off the table, you only spend what you normally pay for your home expenses.
Also, you can deduct a portion of your home rent and utilities as business expenses if you have a dedicated office. Office equipment used primarily for the business is also deductible, even if you enjoy gaming in your off time. You’ll save on restaurants and coffee shops by brewing your favorite brand of coffee right at home.
Saving Time
You have a short commute, basically the distance from your bedroom to your office. You could work on your computer in your pajamas if you want (though we recommend dressing up a little for video calls.) You can sleep in a little or get a jump on the day before everyone else gets to the office.
Working from home gives you flexibility with your other tasks as well:
- You can switch loads between phone calls if you need to get caught up on laundry.
- You can take the dog for a short walk and stretch your legs rather than walk between your desk and the water cooler.
- You could hit the gym on your lunch break without worrying about being sweaty when you return to the office.
- If things get tense and you need a minute, no one will walk in on you taking a yoga or meditation break (or a gaming break; we won’t judge.)
Independence
The best benefit of working from home is the flexibility. You schedule work meetings around your life rather than put off living to work. For example, if it’s your anniversary, you can take off early and surprise your spouse with a lovely evening. If your kid has a soccer game, dance recital, or concert, you can cheer them on in the front row. You just shuffle work activities around to make them fit.
As long as you make the deadline, no one cares if you’re a morning or evening person. Whenever you work is up to you. As previously mentioned, you can also work from anywhere in the world. Your license or certification restricts you to one state, which means you can only file taxes for people who live there. It doesn’t mean you have to live there. Anywhere you have an internet connection, you’re good to go.
With web-based professional tax software, you can also take on fewer clients and make more money. Without a brick-and-mortar business to pay for (along with all of the utilities), the amount of money you need to make in order to make a profit goes way down. You have more time for yourself and your family or make a more significant profit. It’s a win-win.
Forget “Home Sweet Home”
It’s more like “Home Sweet Office” since being a tax preparer based out of your own home may be the best move you and your family could make. You have more time, freedom, and money while providing everything your family needs.
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Infographic
Running a business without a physical office is easier, and you can meet clients from anywhere. Working from home can save money and time and offer more freedom. This infographic highlights key factors to help you decide if tax preparation from home is a good fit for you.
