There are many reasons why working from home can be appealing to the average American, and the benefits that come with working from your own home are endless. Many people focus on the lifestyle benefits of working from home. But for most people, however, the economic benefit of working from home really take the cake. This includes tax breaks and lower transportation costs, just to name a few.
Happy Tax recognizes that there are lots of benefits of working from home. And while working from anywhere may seem like an exciting benefit, it’s not a one-way street. Happy Tax also sees the benefits of allowing all of our franchise partners to work from home, including greater overall morale and productivity.
Happy Tax offers several direct benefits to its franchisees, including direct mentorship opportunities and the reliability of a proven brand. However, there are many personal and financial benefits that come naturally to the Happy Tax business model, which allows all of our franchise partners to work from home. These benefits are numerous, and they can really give your wallet a break.
The economic benefits of working from home include flexible hours, reduction of overhead costs, tax breaks, fewer transportation costs. But this is just a basic summary – in reality, the list goes on. That’s because working from home can make certain regular expenses deductible, like a portion of your mortgage payment and interest. Other home expenditures may also be deductible, such as utilities, repairs, and other household maintenance. However, with the new tax laws changing when and how we expense things, it’s always best to consult with a professional before relying on any new tax information.
Personal savings and extra tax deductions are nothing to sneeze at since little things like this can go a long way for your pocketbook. For example, another benefit in working from a home-based office is that your overhead costs will be much lower than if you were renting an office space. That’s because working in a home office does not require paying office utilities, renting space, supplying phone lines, or other similar extra costs. Finally, the cost of transportation and time taken to drive to work during your daily commute is also near zero when your home is also your office.
The advantages of working from home are numerous, both to the employee and employer. This is why Happy Tax built working remotely into its franchise operations. We know that these sorts of flexible business arrangements really help enterprising people succeed – and when it comes to our franchise partners, that’s the sort of thing we’re all about!