Watercooler: Tax tips for home businesses

This is an archived article that was published on sltrib.com in 2013, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

A variety of federal tax deductions can help an entrepreneur maintain and grow a home-based business. But the rules governing deductions aren't always easy to understand, and require good record keeping. Here are websites with useful information:

Bankrate.com • Discusses requirement for home office deductions, at http://bit.ly/8F4vsZ.

Completetax.com • Covers a range of home-office deduction topics, including qualifying for depreciations, at http://bit.ly/TN4fNk.

Financial Web • Spotlights tax tips for home office and links to IRS forms, at http://bit.ly/VNvN5G.

Investopedia • Serves up criteria for qualifying home-office tax deductions, at http://bit.ly/i6SwMS.

Internal Revenue Service • Provides overview of rules and requirements, at http://1.usa.gov/QQbtPj.