Start & Run a Handyman Business. Sarah White

the relevant home-business expenses on your income tax. In most areas, you can deduct any business-use-of home expenses, those expenses associated with maintaining a work space in your home. These can include a portion of many of your home expenses including heat, electricity, and insurance. You can calculate how much you can deduct by figuring out what proportion of your home you use for your business, and then using that number to deduct the expenses. For example, if you use 200 square feet of a 1,000-square foot home for business, this constitutes 20 percent of the total space. You can therefore deduct 20 percent of all your home-related expenses. Tools, supplies, and other materials you use to conduct your business can also be deducted as business expenses. Receipts for your business purchases add up and make a significant difference. So make sure you keep all your receipts and remember that they are required to back up your tax claim.

      6. Getting Professional Help for Your Business

      Running a successful business of any kind takes a team. Your business is no different. When you encounter an area of your business where you need help, consider hiring outside experts. For example, you may want to hire an accountant to prepare your taxes. A professional organizer can help you set up your home headquarters, your filing system, or your storage space. There are specialists available to help with marketing and business planning as well. And, of course, whenever legal advice is needed, you should seek the services of a lawyer.

      If you already have contacts in these various fields, give them a call and ask for an appointment to discuss your needs as you begin your new business. If you do not currently have contacts in any one of these areas, ask friends, family, and even neighbors for referrals. The relationship you have with these professionals is important and you need to have faith in their advice. Word of mouth is often the best way to make contact. You may want to get a number of quotes from various professionals before making a choice. Be up front and let the professional know you are shopping around for services, and give them a chance to explain what they can offer.

      You should also seek expert help in any area of your handyman work where your own safety or that of the homeowner is at stake. For example, it may be okay to do simple electrical work, such as replacing a light fixture or moving a plug, as long as you are comfortable and confident that you can do it with no risk. But if you run into a task that is unfamiliar, you should turn to a licensed tradesperson for advice. You may even want to hire a licensed tradesperson for some aspects of your business. (For more on developing a network of tradespeople, see Chapter 4.)

      Many communities have home-business network groups. Ask about these in your area and join one if you can. Network groups can offer a wealth of contacts and information as your business grows.