If you are wondering what are the benefits of building a home office in Miami you came to the right place. Owning a business has become tough in recent years and renting an office can be expensive. Or maybe you just want to be closer to your family and kids. Whatever the reason for thinking about moving your office to your home is, you should know that there are many benefits of having a home-based business.
Benefits of building a home office in Miami
- Reduction of overhead costs is one of the most obvious benefits of building a home office. You will not have to pay for rent and transportation.
- Tax reduction is another advantage of having a home office, but you have to qualify for this.
- Flexible working hours.
- You will spend more time working and less time commuting.
- If you have a home office it can increase your home value.
- You can test new business ideas easier if you work from a home office.
- Maybe the biggest and most important benefit of having a home office is being there for your kids and your family. It will be good for your mental health, also.
Benefits of building a home office – Overhead costs reduction
If you own a small business, overhead costs can be a big burden. Maybe it is time to move your office to your home and get rid of the rent. Also, you will not have to pay for the office phone and other utilities. And if you were using your car to get to work you will not have to pay for gas anymore. Not to mention the possible car trouble and how much it will cost you to fix it.
Tax reduction when building a home office in Miami
If you have an office in your home maybe you qualify for certain tax reductions. This includes some of your home expenses, property taxes, mortgage interest, maintenance and utilities. To be eligible for tax reduction your home office has to be registered as your principal place of business.
Although you can only deduct a portion of your expenses, it is still one of the benefits of having a home office. In Miami-Dade County, there are no local or state personal income taxes. And that significantly reduces overall employment costs. Also, there is no corporate tax and Florida’s state corporate tax is among the lowest in the US.
You can have flexible working hours
If you are building a home office surely you thought of flexible working hours. Having a home office allows you to work at night or early in the morning which will be of great help if you have kids, for example. You can go to your office after your kids are asleep and you will still have several hours to work. Or you can get up early and finish before noon and have a whole day for other activities. All you need to do is to call long distance movers Miami.
Commute time is wasted time
Maybe you didn’t know, but if you are an American you will spend an average of 25 minutes during a day to get to work. And that would maybe be acceptable if you are not planning on going home after work. But if you do you need to count in an additional 25 minutes for going back from work.
That is almost an hour of your life wasted every day and building a home office will help you in getting that hour back. And if you spend that extra time on work it will certainly help your business grow more.
Your home value will increase if you add a home office to it
Home offices tend to increase home values, and that is another great advantage of having a home workplace. Many home buyers are willing to spend an extra 2000$ on a home with an office and that’s not a surprise. They all know that there are many benefits to having a home office.
Testing new business ideas will be easier
You should know that over 50% of businesses fail in the first year. That is because the initial overhead and renting costs can be overwhelming if your business is not earning well right from the beginning. If your office is located at your home your expenses will be much lower and that could be very significant in the beginning. You will have more time to test new ideas and come up with a steady income for your company.
Building a home office will give you more time for your family
The most important thing in your life is your family and health. And if you have an opportunity to relocate your business to your home you should definitely do it. You will not spend so much time out of your home and you will have more opportunities to watch your children grow. Your family life will improve and you will feel more relaxed and stress-free.
In today’s fast-paced world stress is the number one reason for a number of illnesses and mental health disorders. Working in a more relaxed environment will help you to avoid those problems.
Disadvantages of having a home-based business
Of course, having a home office is not all rainbows and butterflies. You must be well organized and you will need to set strict rules. You can easily lose track of time and end up spending more hours at work. Domestic distractions can be a big problem too, so it is advisable to build your office in a separate room where you can hang your “employees only” sign. Also, if you spend more time at home you will have less contact with other people and that is how you lose friends.
Moving to Miami
If you live in Miami and you want to move your office to your home hire Miami movers. Hiring a professional moving company can help you be more relaxed during this complicated operation. During your move, you will probably need storage units so renting storage units Fort Lauderdale is advisable. Spend some time before your relocation to plan it well. Relocating your business can be very stressful so hire a good moving company to help you.
