Copyright 2020 - Pfeiffers Accounting & Consulting LLC

So many companies try to start up too quickly, and fail due to the fact that they are paying sky high rent  they cannot afford.  If your situation allows, you can always begin from home, or choose to operate indefinitely from your home.  When you operate in your home, you can deduct a percentage of your rent,  utilities, car payments, telephone and cell phone costs. Your deduction is based upon the square footage of the room you consider your office. This, in turn, will help your company save on taxes at year end.

Another option is to move to another location that is more affordable if you are operating in a business location. Rent is something that is required monthly, and not paying it will have dire consequences.  Therefore, it is mandatory that a budget is made taking into the monthly rent requirements to determine what is affordable for your company and what is not.

Copyright Jeanine Pfeiffer

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