Today, we are going to take it a little further. We touched briefly upon treating your "Home Business," as a bona fide business, earlier. Now I want to point out the importance of mind set.
There are so many programs being "incorrectly" marketed as a "Do Nothing, We Will Do All The Work For You, You Rake In The Money." So many of you out there fall for that line of garbage, when it is nothing but an, out and out lie, come along line, just to get you to sign up. STOP and THINK...... If it was really that easy, why are there not more successful marketers making six figures a year, if not a month as promised? So who does make the money in that scenerio? The person that signs you up. They sign you up, get your up front money, and as soon as sign ups start to slow down, they are off and promoting a new program, while there you sit. Waiting for your ship to come in, but it never docks.
A home business, is a great opportunity for everyone, but it takes work. If you treat it with the respect that a business deserves, it will make you money, and keep making you money. It is all in how you approach your business, as to how it will react for you.
First of all, quit thinking that you are going to make your fortune without having to put forth any effort. I call this the "Welfare Mentality." Sign up, sit back, hand out, wait for the checks to roll in. If that is what you are looking for, you signed up in the wrong type of business.
Start thinking of yourself as a CEO...You are going to build your own empire. You know there will be obstacles and you know there will be some sort of learning curve. You can do one of two things when you meet these challenges. You can sit back, allow them to prevent you from moving forward and reaching your goals, or you can put your head down, square your shoulders, meet the challenges head on, not stopping until you have conquered them.
Believe in yourself. If you do not believe you can succeed, no matter what, then you have already set yourself up for failure. Set your mind in a positive, forward direction and do not look back. Nothing is going to be handed to you in this business, in fact you will find yourself having to work hard at first. It is here, where most people either quit, or do not get started at all.
Set your mind in a positive direction, create beneficial work ethics (you are the one who is reaping all of the benefits), do not let any obstacles stand in your way, find a way, around, over, under or through them, and after only a couple of years of hard building, you should be able to put your business on a maintenence program and live off the residuals. Now that is a benefit!
Need help getting your mind in the right direction? Read the book, "Think and Grow Rich," by Napoleon Hill.
Looking for an easy and cost effective way to get started in a business that will help educate you at the same time?
http://affiliatecashsecrets.com?28774
www.aimtofortune.com
www.StartandNeverQuit.com
www.WhatAreHomeBusinessBenefits.com
Monday, February 26, 2007
Thursday, February 22, 2007
Another Benefit From Working at Home
Now that we have you pointed in the right direction for the "Tax Benefits," lets explore another benefit which I personally feel is mis-used in promoting "Home Business Opportunities."
How many times have you heard the "Come On, Statement," All you have to do is sign up with us, you will not have to do any work, and you will make all of this money! I see it in ads all over the place and frankly, it makes me sick. If it was that easy, don't you think there would be a whole lot more six figure earning, successful people, out there?
My mentor, Al Turnquist, (leading marketer and educational promoter) states it very plainly and matter of factly....
"The home business industry, has taught duplication for years. The industry has also promoted home business(mlm) as a different kind of business model, one that does not require office space, employees ect.
This thinking is WRONG!!!
Home business(mlm) is business. Products or services are provided in exchange for money. What is typically called a downline could easily be called a sales organization. Building a downlone is recruiting salespeople. The difference between home business and traditional business is COMPENSATION, MLM offers the ability to get paid on multiple levels.
That is the only real difference. In reference to building your business, there is no difference.
Successful businesses are run by CEO's, who delegate the tasks necessary for success, to people who are good at that particular task. These include, sales, marketing, customer service, training ect.
Try and imagine, the CEO of a successful fortune 500 company trying to do everything the business requires. It wouldn't work.
Think
Duplication is responsible for a 95% failure rate in the home business industry. Failure is constantly duplicating failure."
If you understand what is being said above, then you will benefit from a home business. Become the CEO, of your own company, hand pick the "Team" of co workers with whom you are going to work with and delegate to. Pick these people carefully. Choose those, who's strengths compliment your weaknesses. In other words, if you do not do phone work well, choose a team mate who does. Cant write ad copy well, find someone who can.........Get the picture? Now you are Benefiting from your Home Business.
www.WhyAHomeBusinessBenefits.com
www.WhatAreHomeBusinessBenefits.com
How many times have you heard the "Come On, Statement," All you have to do is sign up with us, you will not have to do any work, and you will make all of this money! I see it in ads all over the place and frankly, it makes me sick. If it was that easy, don't you think there would be a whole lot more six figure earning, successful people, out there?
My mentor, Al Turnquist, (leading marketer and educational promoter) states it very plainly and matter of factly....
"The home business industry, has taught duplication for years. The industry has also promoted home business(mlm) as a different kind of business model, one that does not require office space, employees ect.
This thinking is WRONG!!!
Home business(mlm) is business. Products or services are provided in exchange for money. What is typically called a downline could easily be called a sales organization. Building a downlone is recruiting salespeople. The difference between home business and traditional business is COMPENSATION, MLM offers the ability to get paid on multiple levels.
That is the only real difference. In reference to building your business, there is no difference.
Successful businesses are run by CEO's, who delegate the tasks necessary for success, to people who are good at that particular task. These include, sales, marketing, customer service, training ect.
Try and imagine, the CEO of a successful fortune 500 company trying to do everything the business requires. It wouldn't work.
Think
Duplication is responsible for a 95% failure rate in the home business industry. Failure is constantly duplicating failure."
If you understand what is being said above, then you will benefit from a home business. Become the CEO, of your own company, hand pick the "Team" of co workers with whom you are going to work with and delegate to. Pick these people carefully. Choose those, who's strengths compliment your weaknesses. In other words, if you do not do phone work well, choose a team mate who does. Cant write ad copy well, find someone who can.........Get the picture? Now you are Benefiting from your Home Business.
www.WhyAHomeBusinessBenefits.com
www.WhatAreHomeBusinessBenefits.com
Wednesday, February 14, 2007
After Much Research....
My business associates and I have been utilizing the "Tax advantages" for a long time, in regards to showing people the benefits of having and maintaining a home business. My main concern was, I am not a tax expert, nor do I ever expect anyone to become one, in order to promote and build their business.
After much research, my associates and myself, came to the unanimous conclusion, that Ron Mueller was the Tax expert we would most like to refer all of our new business people to at the start. Although all of the other respected experts in their field, were great, Mr. Mueller is on a level where anyone can comprehend what it is he is saying, and his services are financially affordable for all income levels.
To get more insight as to "Who Ron Mueller is, please read the below excerpts from his sight, http://www.homebusinesstaxsavings.com/about_ron.htm
Who Is Ron Mueller?
Ronald R. (Ron) Mueller is a baby-boomer, born in Sioux City, Iowa, the son of a career postal worker and a career bookkeeper. He left the Midwest in 1965 to accept an appointment to the United States Naval Academy in Annapolis, MD, where he earned a Bachelors Degree in Business Management.
After serving his country for eight years on active duty as a Naval Officer, including a combat tour in Vietnam, Ron worked briefly as an investigative reporter for the Atlanta Journal, and then entered the business world focusing on the fields of advertising and marketing.
Ever since he was a young boy working as a caddy for several successful businessmen at his hometown Country Club, he heard repeatedly that real success belongs to those who are self employed. Now this was quite a contrast from what he had learned from his parents -- that the way to get more money is to take on a second job. Years later, in 1999, having grown weary of his corporate14-hour workdays and exhausting 4-hour daily commutes, Ron fired his boss and hired himself. While building a successful career out of making other people’s businesses thrive, he had learned this: It’s how much you keep, that counts, not how much you make. So Step One in starting his own business was to gain a thorough understanding of small-business tax laws.
Right away many well-meaning friends began offering Ron the ‘free advice’ that home-based business owners get huge tax benefits. But not one of those well-meaning friends was able to tell him what those tax benefits are, or how to qualify for them, or what records he would need to keep. So he began spending hours in bookstores, on the Internet, and even in the United States Library of Congress looking for information about those “small business tax advantages.” Ron launched into doing his own research, and after several months, what he had discovered was exciting. First of all, yes, small businesses can qualify for most of the same tax breaks as big businesses. Second, the potential value of those tax benefits is huge. And third, many of the largest tax breaks actually were authorized by Congress specifically to stimulate and reward the start-up and running a small business.
He was not looking for ‘tax-dodges’ or ‘loopholes’ or ‘gray-areas,’ so he traced every individual small-business tax break all the way back to the precise Article in the U.S. Tax Code, or the specific Congressional Tax Law, or the exact Federal Tax Court Ruling that authorized it. By now Ron knew he needed to find a way to make this information available and affordable to every one of the 25 million small-business owners who need it –especially since many were unaware of how much they needed it.His response to that “Inner Passion” was to write a step-by-step guide that explained, in layman terms, what tax breaks are available to small businesses, how to qualify for them, and how to spend only a few minutes a day keeping the necessary records. That book, which has become a bestseller, is called, “It’s How Much You KEEP, That Counts! Not how much you Make.”
Ron lives in Dan Diego, California aboard a yacht appropriately named “Home Office.”
To learn more about Home Business Benefits....see the following sites,
www.WhyAHomeBusinessBenefits.com
www.WhatAreHomeBusinessBenefits.com
Want to start a home business, but do not know where to start, try....
www.AimtoFortune.com
Very simple is structure, non abrasive, you will have no trouble sharing the advantages of this program with others.
After much research, my associates and myself, came to the unanimous conclusion, that Ron Mueller was the Tax expert we would most like to refer all of our new business people to at the start. Although all of the other respected experts in their field, were great, Mr. Mueller is on a level where anyone can comprehend what it is he is saying, and his services are financially affordable for all income levels.
To get more insight as to "Who Ron Mueller is, please read the below excerpts from his sight, http://www.homebusinesstaxsavings.com/about_ron.htm
Who Is Ron Mueller?
Ronald R. (Ron) Mueller is a baby-boomer, born in Sioux City, Iowa, the son of a career postal worker and a career bookkeeper. He left the Midwest in 1965 to accept an appointment to the United States Naval Academy in Annapolis, MD, where he earned a Bachelors Degree in Business Management.
After serving his country for eight years on active duty as a Naval Officer, including a combat tour in Vietnam, Ron worked briefly as an investigative reporter for the Atlanta Journal, and then entered the business world focusing on the fields of advertising and marketing.
Ever since he was a young boy working as a caddy for several successful businessmen at his hometown Country Club, he heard repeatedly that real success belongs to those who are self employed. Now this was quite a contrast from what he had learned from his parents -- that the way to get more money is to take on a second job. Years later, in 1999, having grown weary of his corporate14-hour workdays and exhausting 4-hour daily commutes, Ron fired his boss and hired himself. While building a successful career out of making other people’s businesses thrive, he had learned this: It’s how much you keep, that counts, not how much you make. So Step One in starting his own business was to gain a thorough understanding of small-business tax laws.
Right away many well-meaning friends began offering Ron the ‘free advice’ that home-based business owners get huge tax benefits. But not one of those well-meaning friends was able to tell him what those tax benefits are, or how to qualify for them, or what records he would need to keep. So he began spending hours in bookstores, on the Internet, and even in the United States Library of Congress looking for information about those “small business tax advantages.” Ron launched into doing his own research, and after several months, what he had discovered was exciting. First of all, yes, small businesses can qualify for most of the same tax breaks as big businesses. Second, the potential value of those tax benefits is huge. And third, many of the largest tax breaks actually were authorized by Congress specifically to stimulate and reward the start-up and running a small business.
He was not looking for ‘tax-dodges’ or ‘loopholes’ or ‘gray-areas,’ so he traced every individual small-business tax break all the way back to the precise Article in the U.S. Tax Code, or the specific Congressional Tax Law, or the exact Federal Tax Court Ruling that authorized it. By now Ron knew he needed to find a way to make this information available and affordable to every one of the 25 million small-business owners who need it –especially since many were unaware of how much they needed it.His response to that “Inner Passion” was to write a step-by-step guide that explained, in layman terms, what tax breaks are available to small businesses, how to qualify for them, and how to spend only a few minutes a day keeping the necessary records. That book, which has become a bestseller, is called, “It’s How Much You KEEP, That Counts! Not how much you Make.”
Ron lives in Dan Diego, California aboard a yacht appropriately named “Home Office.”
To learn more about Home Business Benefits....see the following sites,
www.WhyAHomeBusinessBenefits.com
www.WhatAreHomeBusinessBenefits.com
Want to start a home business, but do not know where to start, try....
www.AimtoFortune.com
Very simple is structure, non abrasive, you will have no trouble sharing the advantages of this program with others.
Saturday, February 10, 2007
Who Is Sandy Botkin?
As an IRS attorney, Sandy Botkin worked for the Chief Counsels office of the IRS in Washington.
Mr. Botkin was one of eight attorneys selected by the Internal Revenue Service to train all new attorneys to the Internal Revenue Service's Corporate Tax Division.
To learn more about Sandy Botkin and HIS views on How and Why a Home Business benefits everyone through tax advantages, visit........
http://www.reduceyourtaxes.tv/tax_report.htm
To help further your education on Tax advantage, here is a free affiliate,
www.WhatAreHomeBusinessBenefits.com
Compelling Education and Door Opener for any Business,
www.WhyAHomeBusinessBenefits.com
Mr. Botkin was one of eight attorneys selected by the Internal Revenue Service to train all new attorneys to the Internal Revenue Service's Corporate Tax Division.
To learn more about Sandy Botkin and HIS views on How and Why a Home Business benefits everyone through tax advantages, visit........
http://www.reduceyourtaxes.tv/tax_report.htm
To help further your education on Tax advantage, here is a free affiliate,
www.WhatAreHomeBusinessBenefits.com
Compelling Education and Door Opener for any Business,
www.WhyAHomeBusinessBenefits.com
Friday, February 9, 2007
Views of Sandy Botkin
This article was written back in the mid to late 90's, and that is what makes it so powerful. Listen to what this leading tax expert predicts for the future......Here we are 2007, and where are we at economically speaking. A Home Business is needed more now than ever, and not just by the blue collar families.
If You Don't Have a Home-Based Business, Start One Today!
By Sandy Botkin
This may be a decade of tremendous corporate profits and economic growth, but for the vast majority of North Americans, the 90's have been a dismal, uphill climb. And many economists believe that this next, new millennium won't be getting better any time soon.
Why?
Changing business and government attitudes are the reason. There has seemingly been more anti-business legislation in the last decade than in any other this century.
stronger employment and labor laws
the Age Discrimination in Employment Act
the Comprehensive Omnibus Budget Reconciliation Act (COBRA, which includes mandating health insurance for workers for a period of time after they leave employment)
safety laws
much tougher laws for discharging workers
more liabilities for lawsuits
the Family Leave Act
the Americans with Disabilities Act (which is creating immense numbers of lawsuits)
higher minimum wages and fringe benefits
Just reading this list is exhausting.
While these acts have beneficial and protective aspects, they have also encouraged businesses to move their facilities. That "sucking sound" popularized by Ross Perot is not just down to Mexico, but elsewhere as well. The result has been a dramatic loss of heavy industry in the U.S.
The young and the middle-aged alike are realizing that their dream of "having a job with a company forever" is an illusion. Companies have been downsizing, rightsizing, and capsizing for some time now, and they continue to do so-more now than ever before. Even the federal and state governments are getting into the act with layoffs and attrition of jobs.
In addition to all this uncertainty and mutual lack of loyalty between companies and employees, even the workers who do not keep their jobs have no guarantee of promotions due to the shrinking number of management positions. These circumstances aggravate the already tryingly long commutes in rush hour traffic and increasingly typical frustrated boss-spelled backwards, that double S-O-B.
Finally, if all this isn't bad enough, under recent tax laws, employees are shafted more than ever with limits and thresholds for their employee deductions and higher social security tax limits. This results in more couples working than ever before and, on many occasions, working more than one job. It is now almost impossible to have only one job in the family and make ends meet! Today, many households need three incomes just to survive.
Sadly, even having more than one job does not produce any major positive effect on most people's bank accounts. Why? Because of tax laws. This was well illustrated in 1994 by Jane Bryant Quinn in her Woman's Day article on "How to Live on One Salary."
Where the Money Goes
Ms. Quinn's example assumed that a man was earning $40,000 per year. His wife (we will call her Lori) wasn't working. They had more month than money. (Sound familiar?) Lori subsequently got an administrative job for $15,000 per year. You would think this would improve the family's financial situation, but when Ms. Quinn examined the economics of getting this extra income, the results were startling!
Lori had to pay federal and state taxes on her new income. Since they filed jointly, the family's combined income was what established their tax bracket. She paid $4,500 in new taxes, most of which was non-deductible, for federal and state income tax.
Lori had social security withheld from her paycheck at the rate of 7.65 percent, which amounted to an additional nondeductible amount of $1,148 being extracted from her salary. She also had to commute to work 10 miles a day round trip, which is probably conservative for most people. This resulted (in 1995) in nondeductible commuting costs of $696.
Lori also had some child care expenses, which give a partial tax credit. Ms. Quinn figured that the amount spent over and beyond the tax credit was $4,250 per year.
Lori also ate out each day with colleagues, spending an average of $5 per day, five days a week. This results in a nondeductible expense of $1,250 per year. ( I would love to know where she ate for only $5!)
Now that Lori has a job, she has to have professional clothing, this means a hefty dry cleaning bill. Ms. Quinn assumed that Lori's increased expenses here amounted to an extra $1,000 per year, nondeductible, of course.
Finally, with both spouses working, Lori wasn't in the mood to cook dinner every night. They bought more convenience foods and ate out more frequently. This resulted in increased food costs of a nondeductible $1,000 per year in minimum.
Add it all up and Lori's take home pay was a paltry $1,156 a year, for which she had to put up with a daily commute, an unpleasant boss, and corporate hassles. (See the following summary of all of these numbers, so you can do the math for yourself.)
No wonder more and more people are starting home-based businesses. In fact, there are currently an estimated 30 million people working from their homes. This number is expected to more than triple, to 97 million, by the year 2000, and to keep on growing. This has become and will continue to be one of the greatest mass movements in the U.S.
You all have the ability to start a home business, do not let it become a major challenge when you have so much to gain from the experience. Need more information? www.WhyAHomeBusinessBenefits.com
Want another opinion from a tax expert? www.WhatAreHomeBusinessBenefits.com
Can't think of a business to start? Here is a great start up home business, Low start up cost and very non abrasive. www.Aimtofortune.com
If You Don't Have a Home-Based Business, Start One Today!
By Sandy Botkin
This may be a decade of tremendous corporate profits and economic growth, but for the vast majority of North Americans, the 90's have been a dismal, uphill climb. And many economists believe that this next, new millennium won't be getting better any time soon.
Why?
Changing business and government attitudes are the reason. There has seemingly been more anti-business legislation in the last decade than in any other this century.
stronger employment and labor laws
the Age Discrimination in Employment Act
the Comprehensive Omnibus Budget Reconciliation Act (COBRA, which includes mandating health insurance for workers for a period of time after they leave employment)
safety laws
much tougher laws for discharging workers
more liabilities for lawsuits
the Family Leave Act
the Americans with Disabilities Act (which is creating immense numbers of lawsuits)
higher minimum wages and fringe benefits
Just reading this list is exhausting.
While these acts have beneficial and protective aspects, they have also encouraged businesses to move their facilities. That "sucking sound" popularized by Ross Perot is not just down to Mexico, but elsewhere as well. The result has been a dramatic loss of heavy industry in the U.S.
The young and the middle-aged alike are realizing that their dream of "having a job with a company forever" is an illusion. Companies have been downsizing, rightsizing, and capsizing for some time now, and they continue to do so-more now than ever before. Even the federal and state governments are getting into the act with layoffs and attrition of jobs.
In addition to all this uncertainty and mutual lack of loyalty between companies and employees, even the workers who do not keep their jobs have no guarantee of promotions due to the shrinking number of management positions. These circumstances aggravate the already tryingly long commutes in rush hour traffic and increasingly typical frustrated boss-spelled backwards, that double S-O-B.
Finally, if all this isn't bad enough, under recent tax laws, employees are shafted more than ever with limits and thresholds for their employee deductions and higher social security tax limits. This results in more couples working than ever before and, on many occasions, working more than one job. It is now almost impossible to have only one job in the family and make ends meet! Today, many households need three incomes just to survive.
Sadly, even having more than one job does not produce any major positive effect on most people's bank accounts. Why? Because of tax laws. This was well illustrated in 1994 by Jane Bryant Quinn in her Woman's Day article on "How to Live on One Salary."
Where the Money Goes
Ms. Quinn's example assumed that a man was earning $40,000 per year. His wife (we will call her Lori) wasn't working. They had more month than money. (Sound familiar?) Lori subsequently got an administrative job for $15,000 per year. You would think this would improve the family's financial situation, but when Ms. Quinn examined the economics of getting this extra income, the results were startling!
Lori had to pay federal and state taxes on her new income. Since they filed jointly, the family's combined income was what established their tax bracket. She paid $4,500 in new taxes, most of which was non-deductible, for federal and state income tax.
Lori had social security withheld from her paycheck at the rate of 7.65 percent, which amounted to an additional nondeductible amount of $1,148 being extracted from her salary. She also had to commute to work 10 miles a day round trip, which is probably conservative for most people. This resulted (in 1995) in nondeductible commuting costs of $696.
Lori also had some child care expenses, which give a partial tax credit. Ms. Quinn figured that the amount spent over and beyond the tax credit was $4,250 per year.
Lori also ate out each day with colleagues, spending an average of $5 per day, five days a week. This results in a nondeductible expense of $1,250 per year. ( I would love to know where she ate for only $5!)
Now that Lori has a job, she has to have professional clothing, this means a hefty dry cleaning bill. Ms. Quinn assumed that Lori's increased expenses here amounted to an extra $1,000 per year, nondeductible, of course.
Finally, with both spouses working, Lori wasn't in the mood to cook dinner every night. They bought more convenience foods and ate out more frequently. This resulted in increased food costs of a nondeductible $1,000 per year in minimum.
Add it all up and Lori's take home pay was a paltry $1,156 a year, for which she had to put up with a daily commute, an unpleasant boss, and corporate hassles. (See the following summary of all of these numbers, so you can do the math for yourself.)
No wonder more and more people are starting home-based businesses. In fact, there are currently an estimated 30 million people working from their homes. This number is expected to more than triple, to 97 million, by the year 2000, and to keep on growing. This has become and will continue to be one of the greatest mass movements in the U.S.
You all have the ability to start a home business, do not let it become a major challenge when you have so much to gain from the experience. Need more information? www.WhyAHomeBusinessBenefits.com
Want another opinion from a tax expert? www.WhatAreHomeBusinessBenefits.com
Can't think of a business to start? Here is a great start up home business, Low start up cost and very non abrasive. www.Aimtofortune.com
Tuesday, February 6, 2007
Another Professional View on "Tax Benefits"
The below article was written by Keven Wilke, Professional Home Business Builder......Here is his perspective on "Why and How You Benefit" With Your Taxes Through Building A Home Business.
Have you ever heard the expression, The only certainties in life are death and...
>>> TAXES! <<<
Nobody likes the subject of taxes (except for a few of the more masochistic tax preparers out there). Just thinking about the subject is enough to put most of us in a foul mood.
But it doesn't have to be that way...
As an Internet entrepreneur, you have lots of legitimate tax deductions that can help you reduce your tax bill this year. With a little bit of preparation, and the right tools, even the chore of tax preparation can be made tolerable (if not outright easy).
"Why does Uncle Sam give Internet business owners a huge advantage over regular employees, offering the business owner savings of $3,850 over the employee, even though they both make $30,000 a year?"
By Kevin Wilke
Did you know you could save thousands of dollars each year (yes $1000's) in taxes by having your own home-based business?
Now, I am not a CPA, however I do know how to crunch numbers... Plus, I have my own home-based business that has been saving me $1000's each year in taxes.
So... I know a little about how to save some money in paying taxes, but, again, like always, consult your accountant.
Let me give you a example so you can see how lucrative this can really be for you.
(Note: This is just an example based on US tax law and does not imply this will be the same in your case, savings could be greater or less then this example - the normal legal mumbo jumbo.)
If you are an employee working for somebody else, let's take a look at your basic tax return:
Revenue: $30,000Deductions: $ 0Adjusted Gross Income: $30,000Federal Income Tax: $ 2,800Social Security Tax: $ 2,250TOTAL TAXES PAID: $ 5,050
OK, pretty simple. You work 9 to 5 (plus 2 more hours a night to please the boss), you make $30,000 and right off the top Uncle Sam (or your country's government) takes $5000 and don't even say thanks.
Now, let's see what it might look like now that you own a home-based business, and start taking advantage of every perfectly legal tax deduction the government offers you....
(This is with the same expenses and income as above - we are comparing apples to apples.)
Revenue: $30,000Deductions:- Business Trips $ 2,000- Child's Payroll $ 4,000- Automobile $ 4,000- Home Office $ 3,000- Entertainment $ 2,000- Business Assets $ 7,000Adjusted Gross Income: $ 8,000Federal Income Tax: $ 0Social Security Tax: $ 1,200TOTAL TAXES PAID: $ 1,200
Let's compare the two...
As an employee your total taxes paid were - $5,050. As a home-business owner your taxes paid were - $1200; As a home-business owner you saved $3850 in taxes annually just for owning your own home business (and your expenses were the same!)
That is like the government giving you almost $4000 every year, just because you started and own a home-based business.
So, exactly how does this work?
As a Home-Business Owner you are offered the following Tax Advantages:
Business Trips (vacations): Do you ever take a vacation (or would like to but can't afford to?) By owning your own business you can now deduct that as a business expense. It is easy as long as business is conducted while on that trip.
Child Payroll: You can pay your children up to $4,100 (This amount has gone up, since this article was written.) per child for working in your home-business. Do you pay your children currently, give them spending money or save money for their college education? Now you can do the exact same thing but deduct it as a tax expense by having your children help out in the business.
Automobile Expense: You can deduct around 30 cents (this too has gone up since this article was written.) for every mile you drive that is business related and a portion of all car expenses. Imagine that, taking an expense you already have and turning it into a tax write off.
Home Office: Since this business is done out of your home, you can deduct a portion of your rent or mortgage as a business expense, plus other home expenses like electricity, water, sewage, etc...
Entertainment: 50% of all business entertainment expenses can be deducted. Do you go out to eat? Well, talk about business and deduct that meal.
Home Office Equipment: Do you have a computer? A phone, fax, desk??? Did you deduct those on your tax return? By owning your own business you can.
This is just a brief overview of how you can deduct your normal, everyday expenses you already incur as business expenses and make a huge windfall in tax savings. Whatever you do...
Stop overpaying Uncle Sam!!
The above article was the authors opinion, make sure you consult with a tax expert before you take any deductions. I personally suggest the following affiliate site, he talks in language we all can understand. Provides tools which are easy to use.
www.WhatAreHomeBusinessBenefits.com
Need an introduction to the program you are already working, which will help you explain "Why" everyone needs a Home Business?
www.StartandNeverQuit.com
Have you ever heard the expression, The only certainties in life are death and...
>>> TAXES! <<<
Nobody likes the subject of taxes (except for a few of the more masochistic tax preparers out there). Just thinking about the subject is enough to put most of us in a foul mood.
But it doesn't have to be that way...
As an Internet entrepreneur, you have lots of legitimate tax deductions that can help you reduce your tax bill this year. With a little bit of preparation, and the right tools, even the chore of tax preparation can be made tolerable (if not outright easy).
"Why does Uncle Sam give Internet business owners a huge advantage over regular employees, offering the business owner savings of $3,850 over the employee, even though they both make $30,000 a year?"
By Kevin Wilke
Did you know you could save thousands of dollars each year (yes $1000's) in taxes by having your own home-based business?
Now, I am not a CPA, however I do know how to crunch numbers... Plus, I have my own home-based business that has been saving me $1000's each year in taxes.
So... I know a little about how to save some money in paying taxes, but, again, like always, consult your accountant.
Let me give you a example so you can see how lucrative this can really be for you.
(Note: This is just an example based on US tax law and does not imply this will be the same in your case, savings could be greater or less then this example - the normal legal mumbo jumbo.)
If you are an employee working for somebody else, let's take a look at your basic tax return:
Revenue: $30,000Deductions: $ 0Adjusted Gross Income: $30,000Federal Income Tax: $ 2,800Social Security Tax: $ 2,250TOTAL TAXES PAID: $ 5,050
OK, pretty simple. You work 9 to 5 (plus 2 more hours a night to please the boss), you make $30,000 and right off the top Uncle Sam (or your country's government) takes $5000 and don't even say thanks.
Now, let's see what it might look like now that you own a home-based business, and start taking advantage of every perfectly legal tax deduction the government offers you....
(This is with the same expenses and income as above - we are comparing apples to apples.)
Revenue: $30,000Deductions:- Business Trips $ 2,000- Child's Payroll $ 4,000- Automobile $ 4,000- Home Office $ 3,000- Entertainment $ 2,000- Business Assets $ 7,000Adjusted Gross Income: $ 8,000Federal Income Tax: $ 0Social Security Tax: $ 1,200TOTAL TAXES PAID: $ 1,200
Let's compare the two...
As an employee your total taxes paid were - $5,050. As a home-business owner your taxes paid were - $1200; As a home-business owner you saved $3850 in taxes annually just for owning your own home business (and your expenses were the same!)
That is like the government giving you almost $4000 every year, just because you started and own a home-based business.
So, exactly how does this work?
As a Home-Business Owner you are offered the following Tax Advantages:
Business Trips (vacations): Do you ever take a vacation (or would like to but can't afford to?) By owning your own business you can now deduct that as a business expense. It is easy as long as business is conducted while on that trip.
Child Payroll: You can pay your children up to $4,100 (This amount has gone up, since this article was written.) per child for working in your home-business. Do you pay your children currently, give them spending money or save money for their college education? Now you can do the exact same thing but deduct it as a tax expense by having your children help out in the business.
Automobile Expense: You can deduct around 30 cents (this too has gone up since this article was written.) for every mile you drive that is business related and a portion of all car expenses. Imagine that, taking an expense you already have and turning it into a tax write off.
Home Office: Since this business is done out of your home, you can deduct a portion of your rent or mortgage as a business expense, plus other home expenses like electricity, water, sewage, etc...
Entertainment: 50% of all business entertainment expenses can be deducted. Do you go out to eat? Well, talk about business and deduct that meal.
Home Office Equipment: Do you have a computer? A phone, fax, desk??? Did you deduct those on your tax return? By owning your own business you can.
This is just a brief overview of how you can deduct your normal, everyday expenses you already incur as business expenses and make a huge windfall in tax savings. Whatever you do...
Stop overpaying Uncle Sam!!
The above article was the authors opinion, make sure you consult with a tax expert before you take any deductions. I personally suggest the following affiliate site, he talks in language we all can understand. Provides tools which are easy to use.
www.WhatAreHomeBusinessBenefits.com
Need an introduction to the program you are already working, which will help you explain "Why" everyone needs a Home Business?
www.StartandNeverQuit.com
Monday, February 5, 2007
Choosing A Home Business
Starting a home-based business is an excellent financial opportunity. The tax benefits alone can make starting a business from your home the best financial move you'll ever make. The degree of success you have in your business is directly related to the amount of pleasure you get out of the business and the amount of work you put into it.
Choose a home-based business that you enjoy, that you can comfortably finance, and a business in which there is a large market in need of your service or product. If you do not have a business in mind, consider, www.AimtoFortune.com It is a non abrasive business, which you can utilize both personally and share with others at a generous income level. It is easily set up as a business and will settle within the guidlines set up by the IRS.
Although, most people associate "Home Business" with MLM, because these business are already set up with web sites, etc., but that is not always what a home business is. You are only limited to what your imagination will come up with.
To get more information, visit www.WhyAHomeBusinessBenefits.com You will be amazed, at very little effort on your part, you can have a home business, tax benefits, and actual money in your pocket, in a very short time frame.
Choose a home-based business that you enjoy, that you can comfortably finance, and a business in which there is a large market in need of your service or product. If you do not have a business in mind, consider, www.AimtoFortune.com It is a non abrasive business, which you can utilize both personally and share with others at a generous income level. It is easily set up as a business and will settle within the guidlines set up by the IRS.
Although, most people associate "Home Business" with MLM, because these business are already set up with web sites, etc., but that is not always what a home business is. You are only limited to what your imagination will come up with.
To get more information, visit www.WhyAHomeBusinessBenefits.com You will be amazed, at very little effort on your part, you can have a home business, tax benefits, and actual money in your pocket, in a very short time frame.
Saturday, February 3, 2007
Knowing the Real Why..........
So many of us have struggled for years, trying to make ends meet, going so far as to work two jobs, losing precious time with our families and even in some cases, jeopardizing our health. Many have tried to build a home business, only to end up spending more (of their already earned) money, than the home business ever brought in.
Fortunately, this does not need to happen anymore. Read On........
SPECIAL ALERT to Home-Based Business Owners...
Congress has passed laws giving THOUSANDS of DOLLARS in Tax REFUNDS and Tax DEDUCTIONS to average Americans who operate a legitimate home-based business – even a part time business – as long as they can prove they’re trying to make a profit.
Ronald R. MuellerMBA, Ph.D......
These are NOT “loopholes,” or “tax dodges” or “tax avoidance schemes.”
They are legitimate tax breaks... Authorized by Congress, Published in the IRS Code, and/or Approved by Federal Tax Court Rulings
Congress passed these tax laws to encourage home-based businesses because “Small business is the backbone of the American economy,” according to President George W. Bush.
The average American who runs even a part-time home-based business can now qualify for more tax advantages than any other category of taxpayer,” according to Ronald R. Mueller, author of the bestseller It’s How Much You KEEP, That Counts! Not how much you Make.
Why the big tax breaks for home-business owners???
Because 70% of the job growth is coming from small businesses, and Congress is “betting” that some of us will hit on a winner, strike it rich, and, then, pay a LOT in taxes. Of course we won't mind so much if we have to pay a lot in taxes if we're making a boatload of profits, right?
You can even qualify for these deductions retroactively! Most of the tax deductions and write-offs now available to taxpayers who run a small or home-based business, also apply to the past three tax years. So if you had a home-business in any of the past three years, you could file an Amended Tax Return (Form 1040X), and possibly get a Refund Check for THOUSANDS of DOLLARS – plus interest!
How Hard is it to QUALIFY for these Tax Deductions?
It’s easy!!! Just meet these four simple tests:
1.
Have a legitimate business such as consulting, network marketing, freelancing, child care, internet marketing, direct sales, etc.
2.
Prove you intend to make a profit You do not have to actually make a profit before qualifying to take these deductions, but you do have to show you intend to make a profit.
3.
Work your business on a “regular and consistent basis”At least 45-60 minutes a day, 4-5 days a week.
4.
Document your business Income, Expenses and ActivityBrief, hand written notes in a scheduling diary is usually enough
That’s it! If you meet those four tests, you probably qualify for some big-time home-based business tax deductions, which could reduce your taxes by thousands of dollars every year, for the rest of your working life!
Oh! It Gets Even BETTER!
When Congress approved these tax breaks, they told the IRS: “Don’t make people wait until April 15th to get their money back.”
As soon as you add up all of your tax savings, you can visit your employer’s payroll office to fill out a short form that will begin putting an extra $300-$600 or more per month in your take home pay! What would it be like to have $100 or so extra cash in your pocket every week, week after week? And that’s just from the tax savings! It doesn’t even include the money you’ll make in your home-based business.
There are tax breaks available to home-business owners, with precise IRS Code, Congressional Law or Tax Court Ruling that authorizes each one.
The easiest ways to qualify for each of the tax breaks, is a simple recordkeeping system that can bullet-proof your Tax Returns and knowing where to get reliable professional tax help when you need it.
When was the last time you earned $5,000 for spending 20-30 minutes looking at a web site?
Never?
Well, that’s about to change!
You see, the average person who uses the information you are about to discover, saves somewhere around $4,000 – $7,000 a year in taxes – that’s per year, for the rest of their working life!
These tax breaks, approved by Congress and the IRS, can put $100 extra cash in your pocket every week, by increasing your take-home pay from the job you already have – starting as soon as your very next paycheck!
P.S. What if You DON’T HAVE a Home-Based Business?
Simply said, you lose out on all the tax breaks you’ve just read about. The cost to NOT have a home-based business is about $20 per workday -- $100 per week - $5,000 per year - or more. And that’s every day, every week, and every year. That’s a lot of YOUR hard earned money that’s going to the Treasury Department, but could be going into your own pocket.
A home-based business offers the best tax savings strategy available to the average American, bar none.
Learn more about "How and Why" a Home Business will benefit YOU
www.WhyaHomeBusinessBenefits.com
Fortunately, this does not need to happen anymore. Read On........
SPECIAL ALERT to Home-Based Business Owners...
Congress has passed laws giving THOUSANDS of DOLLARS in Tax REFUNDS and Tax DEDUCTIONS to average Americans who operate a legitimate home-based business – even a part time business – as long as they can prove they’re trying to make a profit.
Ronald R. MuellerMBA, Ph.D......
These are NOT “loopholes,” or “tax dodges” or “tax avoidance schemes.”
They are legitimate tax breaks... Authorized by Congress, Published in the IRS Code, and/or Approved by Federal Tax Court Rulings
Congress passed these tax laws to encourage home-based businesses because “Small business is the backbone of the American economy,” according to President George W. Bush.
The average American who runs even a part-time home-based business can now qualify for more tax advantages than any other category of taxpayer,” according to Ronald R. Mueller, author of the bestseller It’s How Much You KEEP, That Counts! Not how much you Make.
Why the big tax breaks for home-business owners???
Because 70% of the job growth is coming from small businesses, and Congress is “betting” that some of us will hit on a winner, strike it rich, and, then, pay a LOT in taxes. Of course we won't mind so much if we have to pay a lot in taxes if we're making a boatload of profits, right?
You can even qualify for these deductions retroactively! Most of the tax deductions and write-offs now available to taxpayers who run a small or home-based business, also apply to the past three tax years. So if you had a home-business in any of the past three years, you could file an Amended Tax Return (Form 1040X), and possibly get a Refund Check for THOUSANDS of DOLLARS – plus interest!
How Hard is it to QUALIFY for these Tax Deductions?
It’s easy!!! Just meet these four simple tests:
1.
Have a legitimate business such as consulting, network marketing, freelancing, child care, internet marketing, direct sales, etc.
2.
Prove you intend to make a profit You do not have to actually make a profit before qualifying to take these deductions, but you do have to show you intend to make a profit.
3.
Work your business on a “regular and consistent basis”At least 45-60 minutes a day, 4-5 days a week.
4.
Document your business Income, Expenses and ActivityBrief, hand written notes in a scheduling diary is usually enough
That’s it! If you meet those four tests, you probably qualify for some big-time home-based business tax deductions, which could reduce your taxes by thousands of dollars every year, for the rest of your working life!
Oh! It Gets Even BETTER!
When Congress approved these tax breaks, they told the IRS: “Don’t make people wait until April 15th to get their money back.”
As soon as you add up all of your tax savings, you can visit your employer’s payroll office to fill out a short form that will begin putting an extra $300-$600 or more per month in your take home pay! What would it be like to have $100 or so extra cash in your pocket every week, week after week? And that’s just from the tax savings! It doesn’t even include the money you’ll make in your home-based business.
There are tax breaks available to home-business owners, with precise IRS Code, Congressional Law or Tax Court Ruling that authorizes each one.
The easiest ways to qualify for each of the tax breaks, is a simple recordkeeping system that can bullet-proof your Tax Returns and knowing where to get reliable professional tax help when you need it.
When was the last time you earned $5,000 for spending 20-30 minutes looking at a web site?
Never?
Well, that’s about to change!
You see, the average person who uses the information you are about to discover, saves somewhere around $4,000 – $7,000 a year in taxes – that’s per year, for the rest of their working life!
These tax breaks, approved by Congress and the IRS, can put $100 extra cash in your pocket every week, by increasing your take-home pay from the job you already have – starting as soon as your very next paycheck!
P.S. What if You DON’T HAVE a Home-Based Business?
Simply said, you lose out on all the tax breaks you’ve just read about. The cost to NOT have a home-based business is about $20 per workday -- $100 per week - $5,000 per year - or more. And that’s every day, every week, and every year. That’s a lot of YOUR hard earned money that’s going to the Treasury Department, but could be going into your own pocket.
A home-based business offers the best tax savings strategy available to the average American, bar none.
Learn more about "How and Why" a Home Business will benefit YOU
www.WhyaHomeBusinessBenefits.com
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