Home-based businesses, which make up roughly half of all U.S. businesses, are of particular interest because of their potential as a wellspring of economic activity. Homes are, in effect, do-it-yourself business incubators, which collectively provide start-ups with an entry point into the business world. Home-based businesses as a group have been characterized, but little more has been done in the way of analysis. A general goal of this study is to advance the understanding of regulatory burdens on home-based businesses, as opposed to non-home-based very small businesses.
A GrowSmart research article on homepreneurs. Homepreneurs are operating significant businesses that are as successful as non-home based businesses.
Even more noteworthy, their home-based businesses are important contributors to employment and the overall U.S. economy. And, due to everything from advances in technology to demographic and economic shifts, the number of homepreneurs is likely to surge over the next few years.
This study published by the SBA analyzes sole proprietorship tax returns to increase our understanding of the impact of location on business performance. Because over 90 percent of businesses operated from a private residence are individual proprietorships this approach captures all but the four percent of partnerships and 4.8 percent of Subchapter S corporations that are homebased (U. S. Small Business Administration 2004).
Prepared by Oklahoma State University and distributed by Oklahoma Cooperative Extension Service, this resource looks at the economic impact of home based businesses and what the entrepreneur and community must do to foster home-based businesses.
IRS Publication 587 “Business Use of Your Home” provides information on figuring and claiming the deduction for business use of your home. The term “home” includes a house, apartment, condominium, mobile home, boat or similar property which provides basic living accommodations. It also includes structures on the property, such as an unattached garage, studio, barn, or greenhouse.
Home Biz Tools
Home Biz Tools provides an array of articles on home-business types and possibilities.
Home Business Magazine
Home Business Magazine offers articles that address various aspects of developing a home-based business.
Internal Revenue Service (IRS) Small Business and Self-Employed Tax Center
The Internal Revenue Service contains information on tax issues related to home-based businesses, see the IRS’s Small Business and Self-Employed Tax Center.