In case you didn't realize there are some MAJOR tax benefits to owning your own home business. Many people overlook this point and it can make a HUGE difference for you come tax day!
Running a business out of your home can save you up to $5,000 or more on your taxes every year no matter what you success level is. Here are just some of the things you can write off:
* Your business's start up costs
* A portion of your house payment or rent
* A portion of your utilities & phone bill if you make any calls from your home or cell phone
* Travel
* Meals
* Car Expenses
* Magazine Subscriptions
* Child Care
* Office Equipment (Do You Need A New Computer??)
* Postage
* Software
* Bank Fees
* Your Internet.......the list goes on and on
For most people you have these expenses anyway, why not be able to write them off? You can even pay your kids to work for you a certain amount of time. That's a good way to save for college!
You will want to consult with your accountant because laws vary state by state, country to country but I can promise you having a home business makes a HUGE difference on your taxes! I don't understand why everyone doesn't start a home business just for this simple reason!
Here are the tax benefits for my business and you can instantly have them too!
Check out this video:
http://lifetimeincome.net/assets/video/cantx2/index.html
I realize it can be a big decision to start a home business. But, please don't hesitate to get in contact with me if you have any questions or just want to discuss options. Until Next Time.
Karen Pore is a Home Based Business Coach and Internet Marketer you can reach her at 1-913-231-0419 or at his website http;//www.KarenPore.com
Monday, November 17, 2008
Taxes....Always Fun
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