I work from home / where ever every day. And, it is wonderful. I can even take as much unpaid time off as I want, whenever I want, as long there is no disruption of business services to our clients. This works because I get paid hourly (I don't work = I don't get paid) and we have very fine granularity in tracking what work was done when. There is also high trust amongst all the team members that everyone is being honorable.