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VO 101

We’ve talked about them before, but we want to mention it again for the people in the back.

What is a Virtual Office?

Let’s start with some background.

Wikipedia has a thorough history of the virtual office, starting with the first Serviced Office concept in 1962. According to this entry, in the early days, serviced offices were often adjacent to, or even part of, law libraries, allowing freelance, individual, and retired lawyers a place to study, work, and gather outside of a traditional office.

As technology progressed, the need to have a traditional office dwindled. FAX machines, web hosting, cloud computing, VOIP meant it was possible for almost anyone to work just about anywhere.

Fast-forward to the present.

As stated by VO service provider Alliance Virtual Offices, during the pandemic, more businesses than ever shifted to remote and home-based work environments. Many plan to stay that way — even large corporations. Even so, businesses still need certain elements of an office.They need a fixed address, a place to receive mail, and occasional access to meeting rooms. They don’t need those things all at once. They certainly don’t need them 24/7.

And that’s where a virtual office comes in.

A Virtual Office setup is great for any business that operates from a residence. Having a street address rather than a PO Box is often preferable - and sometimes required – for certain business licenses, banking, professional societies and insurance. Using an obvious residential address has its drawbacks, the main being a lack of professional credibility. Additionally, actually doing work from home can be challenging, especially if there is no specifically designed work space. It’s also optimal to keep your work and business separate, and keep your home address confidential.

And using a Virtual Office makes it easier on you come tax time. Check with your tax advisor first, but most likely, VO fees can be deducted as an ordinary business expense.

If you're ready to get your VO setup, or have any more questions, contact us anytime.



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