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Benefits of Owing Your Own Home Based Business
How goes the search for the perfect home based business? I realize it can be a big decision! Please don't hesitate to call me if you have any questions or just want to discuss options!
Let's talk about the 5th benefit Of Owning Your Own Home Based Business!
Benefit # ( 5 ): Tax Incentives!
Many people overlook this very important benefit but it can make a huge difference for you come April 15th! Running a business out of your home can save you up to $5,000 or more on your taxes every year!
Here are just some of the things you can write off:
---[ Your business start up costs
---[ A portion of your house payment or rent
---[ A portion of your utilities
---[ Car expenses
---[ Travel
---[ Internet Services
---[ Meals
---[ Magazine subscriptions
---[ Advertising and Marketing
---[ Child care
---[ Cell Phone, Land LineTelephone Bills
---[ Postage
---[ Office equipment (need a new computer?)
---[ Software
---[ Bank Fees
---[ Salary and Employees
---[ Retirement Plans
The list goes on! Many of these things you have and pay for anyway! But now that you operate a business from home, they become a tax write off.
You can even pay your kids to work for you and write it off! Now that's a smart way to save for college!
Put a picture of your wife or kid on your website. Pay 'em royalties! You got a tax write off.
Of course you'll want to consult your accountant as laws vary from state to state and year to year, but I can promise you this: having a home based business will help keep more of your hard earned money in your pocket
instead of Uncle Sam's!
Make sure you see what JJ Childers did for me to save me over $30,000 on my taxes with unique corporate structures.