It’s a new year, and that means tax season. While it may not seem like "fun" to get going on your home business taxes, now is the time to get started. Especially if your record keeping has been a bit "iffy" this year. Getting organized is an important part of your home business taxes. You need to keep track of expenses, payroll (if necessary) and other business-related items. You can even deduct a portion of your home expenses (business use of your home) from your business taxes.

It is important to remember that your home business, whether S-corp., LLC (like mine) or sole proprietorship, will be taxed separately from your income. Whether you fill out a Schedule C (sole proprietorship) or go through the forms necessary for other forms of business, you will have to report things separately. So get started now.

You can go to the IRS Web site, a tax attorney or an accountant to help sort out what you need to do.