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Starting a home business is very exciting, but there are lots of challenges you might have to over come first.

If it’s required that you use your vehicle to conduct your business, track the miles you travel and save your receipts from the fuel, and keep your cell phone receipts. Such expenses are wholly deductible, no matter how long or short the trip.

You need to be able to listen to your internal time clock if you work at home or own your own business. It’s true that there is very little that you can do about when your employer wants you to get up, but when you are in charge, try listening to your own body to determine when you should start your day.

Open a business checking account, and only spend money or deposit money from that account on the business. This will prevent confusion later on whether a transaction was related to your business or not. While you’re at the bank, go ahead and apply for a business credit card.

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