Starting a Home Based Business After Retirement
Surprisingly, many advantages exist for entrepreneurs looking to start their own home based business after retirement age. One such advantage is time. Once a person retires, he/she has ample time to work on a new home based business. Depending on the amount and type of work, the retired can still enjoy social security benefits while earning additional income from home based businesses.
One advantage of working after 65 is deduction of business expenses from income taxation. It is possible to deduct legitimate expenses like mortgages, office supplies, utilities, postage, and other expenses from being taxed as long as it sticks to the guidelines outlined by the IRS. There are many home based business ideas for retired people,especially those who want and need to stay busy.
Best Business Ideas for Retired People
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