Whether it’s family, freelancing, or moving further afield, when new commitments come into your life, it can be hard to juggle your work life balance. This is why many people decide to start working from home when they can.
There are loads of benefits to working from home, but it is also important to think about the implications of this choice and how this new style of working might affect you. In this article, we’ll tell you about some of the things that you should know about working from home before you set up..
Your Bills & Taxes
Working from home can have an effect on the taxes that you pay each month from your salary. If you are using your home for an office, then a percentage of supplies such as electricity are now being used to fuel your business. For this reason, some of these costs can be taken off your taxes in order to help you pay less.
These business expenses are important to note as your bills will start to increase when you start working constantly at home, printing your own documents and buying your own supplies.. Make sure to keep track of your business expenditures and be honest when filling in your tax return.
Working from Home Insurance
If you are running your own business from home, then you still need business insurance. You never know what is going to happen and you need to be covered. If clients visit your home or the people that you interact with get injured or try to make a claim for some reason and you’re not protected then your bank account could suffer. If you’re not sure exactly why you need the right cover for your home business, visit Hiscox liability cover for home businesses to read more on the risks and cover specific to your business needs.
You’ve probably already thought about where in your home you are going to locate your office but make sure to consider other distractions that might occur. Working from home can be very difficult especially when you don’t have other people there to encourage you to keep working. Make sure that you are keeping all distractions away from your home office – keep your mobile phone in a different room if you can and get rid of that TV that’s sitting there.
Having The Right Equipment
Another thing that you need to know about working from home is that having the right equipment will help you out a lot. Don’t fall into the trap of working from your sofa or at the kitchen counter. You should take the hit and purchase a nice desk and a chair that will keep you comfortable throughout your workday. Try to recreate an office atmosphere in your home if you want to be productive and work from home.
When you are working from home you need to make sure that you have everything that you need if you want it to be a success. Invest in the right equipment and find out what sort of insurance you’ll need to ensure that you are protected against common issues that arise.