As we plow through these difficult economic times, the financial horizon still looks cloudy. There are few jobs and even huge companies are failing. Things might look dire, but you can make things better. Read this to learn how to deal with this new Great Depression.

Don’t forget to deduct part of your Internet connection expense. When it is time to file your taxes, you can get part of money back that you paid out to your Internet provider, but only the percentage you used for business purposes.

If any business expenses arise from having to entertain clients, you can deduct these costs out of your taxable earnings. Many of these types of meetings are considered to be tax-deductible business expenses. Make sure that any of the expenses that you deduct in this way are due to meeting current or potential clients to make sure that the deductions are legit.

It is especially important if you are running a home business to keep track of all your receipts for fuel and to keep close track of the mileage you use. Such expenses are wholly deductible, no matter how long or short the trip. It is a good idea to keep track of the reason for the trip, in case you ever need to prove it was work related.

Make sure that your business phone line is separate from your private one. Your business will need a professional recorded message for off-hours as well as a company greeting when you are there to answer. Also, you don’t want to run the risk of other family members picking up the phone when customers call.

While our country’s economy is failing, that doesn’t mean yours has to. This might cause you to question how you and your family are going to survive. This article will help you avoid this and instead turn a profit.

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