Home offices grow along with home-based businesses

10/17/2014

Home offices grow along with home-based businesses

WASHINGTON – Oct. 14, 2014 – Today, home-based businesses account for about half of the nation's small businesses, according to Small Business Administration Office of Advocacy economist Brian Headd.

Many of these small-biz professionals are building upscale home offices to boost productivity and maximize their leisure time.

Hollywood director Breck Eisner, for instance, built a 740-square-foot studio with walls of windows on three sides, when his $2.33 million home was remodeled in 2007. The studio serves as a multipurpose workspace with a private office upstairs, a teak deck for hosting lunches, and a conference room on the first floor.

Real estate professionals say high-end home offices can increase a home's resale value, with Beverly Hills-based agent Gary Gold noting, "I think you can argue that it's worth every bit as much [as the house], if not more."

Business owners benefit from an easy commute, privacy and the ability to deduct a portion of their mortgage interest, property taxes, utilities and maintenance costs from income taxes.

Source: Wall Street Journal (10/09/14) Gamerman, Amy

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