Home based office

[walter]

Hello,

I have a home based office. We plan to do an addition to make the office bigger. Can the business pay for this work?

Please advise
Walter

[AZA_admin]

Hi Walter and welcome

I think you will have to elaborate more. Like.....

- what business are you in
-can you afford the addition now without putting your business in jeapordy
- do you have a budget in mind for the addition
- have you gotten estimates


On the plus side an addition would increase the value of your home.

[walter]

Thanks for your reply AZA.

It is an import/export business. It is only an office not a warehouse. The business might be able afford the addition (probably in the 50,000$).

Small rooms in the home are already rented to the business. Should the business invest its revenue of this year in order to build a bigger office?

What is the best way to go (personal or business)?

Please let me have your suggestion
Wally

[AZA_admin]

Walter,

I actually owned the same sort of business here in China (still do but trying to phase it out) I operated my business from my home, and had my office there with employees. I say go with the addition, rarely in this business do you see your cutomer face to face anyway. Plus an office with a billboard/ or what have you in front, is likely to bring you 0 customers as well.

Do the addition, increase the value of your home and keep chugging away is my advice..

[AZA_admin]

Also Walter, now I am more into sourcing construction material, 50K would make one helluva an addition. PM me who your contractor is should you decide to go this route, could save you some money.

[jo blogs]

I'm a US Ex-pat living in Asia. I work online. Do I have to declare my earnings to the IRS?

[walter]

Thanks for the tips.

One additional question: should the construction work be financed by the business or by me on personal funds?

[angel123]

1. Set a schedule and stick to it.
The allure of working from home is powerful -- but so is the appeal of spending more time with your family or of taking a nap in the middle of the day. Setting and maintaining a schedule for your workday is critical.

2. Set up a dedicated office area. You can't run a business from your kitchen table. A successful business requires a fully equipped home office. If you have an extra bedroom, consider converting it into office space. If you do not have an extra room in your home, try setting up a partition to create an office area.

3. Be professional. One of the perks of running a business from home is having the option of working in your pajamas, but your customers should not be able to tell that you just rolled out of bed. Maintain normal office hours and a professional demeanor when answering your phone or dealing with customers.

[gomziwms45]

I guess the best thing about setting up an office at home, is that there is no investment for place and also the access to your office would become easier.
Talking about the success of such sort of an office, well, it would entire depend upon how you advertise about it. Of course, people should know about your place so that can approach when needed.

[walter]

I think my post was not clear enough. I already have an home based office for a few years. I would like to make an addition to the house to make this office bigger. In such case, who shall pay for the construction work? Me as a person or the business? How shall this work appear in the book?
Please advise
Wally