In today's economy, many people start a home-based business or work part-time to make ends meet. Regarding the former, having a home business offers many benefits besides additional income.
First, it is exciting to start your own business, to pit your experience and wits against the world and become successful. It keeps you engaged with the outside world and the business community. You learn new things; you meet interesting people, and you continue to grow.
And there are considerable tax benefits too. Did you know that health insurance costs are deductible? This is a great way to take the sting out of the high cost of health insurance for Baby Boomer retirees who are not yet 65 years old. And your home computer equipment, automobiles, supplies and even home office space are fully or partially deductible too! Of course, you should check with your accountant or use a package like Intuit's Turbo Tax for Home and Business to confirm the exact deductions to which you are entitled.
Perhaps the biggest benefit of launching a home business is the gratification one receives from being the captain of your own ship. You control your time. You get to plan your own strategy and make all the decisions. It is invigorating and yes, even fun. When you're doing something you enjoy, it's not work.
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