Re: just stared a business...need help
A quick question. Do you have any other income besides this home business?
To begin, record everything. For this business, is the truck your using only used for the busienss or also for other things. If it is used for other things too, you need to set up a mileage book that records when it is used for business and when it is used for something else.
Do you have an area of you house that is set asside as an office for your business. If not, you should do this. Whatever % you set aside for the office, you can deduct that % of your mortgage/rent payment, gas, electricity, water, ect.
Also make sure that you keep receipts for anything you purchase that is business related.
I'll stop here and if you have specific questions, ask away
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