“Oh, and Honey, it’s tax time, do you have your paperwork done?”

That phrase probably starts more wars than terrorism or liberal politicians in a conservative election season. At the very least, the irritation and steam rising causes high levels of stress and anxiety on the home front.

However, it could be solved, if both parties realize the value of sharing the Tax Burden.

When one spouse works a W-2 job and the other is self employed, quarterly tax payments can be avoided by increasing the W-4 withholding of the W-2 spouse, saving stress, paperwork, and the sudden anxiety caused by ‘taxes due’. While this isn’t necessarily a recommended solution to the self employment tax issue, it is often the cheapest method of managing tax dollars with the least stress on cash flow.

The realization of reduced taxation with a home based business decreases overall tax liability due to additional depreciation and deductions for home office, home improvements, and other various options related to owning your own business. Reduced tax percentages offer advantages for the whole family income, while increasing family options for such issues as aging parent care, child care, after school care, and flexible work hours.

Benefits of working from home in a home based business, far outweigh the negatives, when the process is handled correctly.

By bloating W-4 tax withholding and cutting Quarterly Taxes, self employment becomes a viable means of operating a home based business for cash flow benefits. Keep good records of all expenditures to help both members of the family understand the importance of controlling cash flow and managing tax funds appropriately.