Smart
Tax Planning
What
Impact Can A Home-Based
Business Have On Your
Taxes?
April
15th
April
15… the day that
most American's look
towards with doom.
Are
you one of them?
Are you sick of working
hard every day, and
having to give such
a large percentage
of that money to the
government?
Do you wish
that you could find
a way to beat the
IRS, but LEGALLY?
If
so, you are one of millions
of Americans who wish
that there was a better
way to capitalize more
on the money they make,
rather than seeing such
a large portion of it
disappear before it
ever even hits their
bank accounts.
There
is an under-utilized
solution to this problem.
I want to take the opportunity
to educate you about
the benefits that a
home-based business
can have on your tax
burden.
When
thinking of the benefits
of a home-based business,
many people first think
of the following:
Financial Gain
Independence;
not having to rely
on a boss or a company
to provide you with
everything that you
need
Sense of Self-Worth
and Accomplishment
Have
you ever thought of
a home-based business
as a venue for Tax Relief?
Most
people do not realize
just how much money
they can save by starting
a home-based business.
Obviously, the goal
is for you to make money
with your home-based
business, but even if
it does not turn a profit
right away, you can
still benefit from the
mere fact that your
business exists and
that you are attempting
to turn a profit.
Also,
your home-based business
does not have to be
a full-time venture.
It is something that
can fit into your current
daily life. You can
continue to do what
you are doing today,
and add a home based
business into your focus.
Eventually, your goal
can be to replace (and
greatly exceed!) the
income that you generate
from your "j.o.b."
The
fact is that most people
still struggle with
finances, but there
are things that you
can do legally to ease
that burden. If you
operate your own home
based business, then
there are many deductions
you will be able to
take every year that
will dramatically lower
the amount you have
to pay to the IRS in
taxes.
I
recommend that you consult
an accountant to find
out exactly what you
are legally able to
deduct for your home-based
business. But, to give
you an idea of the possibilities,
the following is a list
of deductions that will
be available to you
if you have your own
home based business:
 |
Home
Office Expenses:
Deductible business
expenses can include
a portion of your
rent or mortgage,
real estate taxes,
utilities, insurance,
painting and repairs.
The actual amount
that you can deduct
depends on the
percentage of
your home used
for business.
You can figure
the percentage
of your home expenses
that are deductible
by first figuring
out the percentage
of your home that
is used exclusively
for business. |
 |
Travel
Expenses:
You can also deduct
your travel expenses.
These deductions
include things
such as airfare
or other transportation
costs as well
as your hotel
or other lodging
expenses. There
are limitations
on deductions
for meals. The
best part is that
if you do your
planning properly,
you can mix pleasure
and business and
still get the
benefit of a deduction.
|
 |
Entertainment
Expenses:
Meals and Entertainment
Expenses:
You can deduct
50% of the cost
of a meal in a
restaurant, or
an entertainment/sporting
event like a concert
or a football
game as long as
business takes
place before,
during, or soon
after the event. |
 |
Depreciation
Expenses:
You can take a
deduction for
property you purchase
for your business
that is intended
to last for more
than one year.
This might include
items such as
computers, office
furniture, and
machinery. You
are not required
to depreciate
long-term business
property because
if you prefer,
you have the option
of deducting the
entire expense
in a single year
instead of spreading
it out over several
years. |
 |
Professional
Services Expenses:
You may need help
getting your business
established as
well as assistance
to keep it running
properly. Fortunately,
you can deduct
any fees that
you pay to attorneys,
accountants, consultants,
and any other
professionals
related to the
operation of your
business. |
 |
Advertising
Expenses:
The old adage
goes: "Early
to Bed, Early
to Rise…
Advertise! Advertise!
Advertise!"
The key to any
business is your
ability to advertise.
There are countless
ways to advertise
for free, especially
with the advent
of the Internet.
However, the operation
of any successful
business will
eventually lead
to the spending
of advertising
dollars. Any advertising
that you do will
count as a business
expense, and therefore
can be deducted.
|
 |
Taking
a Loss:
The majority of
home businesses
do not turn a
profit right away,
which means that
it is entirely
possible that
your home business
expenses may exceed
your income. You
may not deduct
more than you
make in any one
tax year, but
you may carry
a loss over to
the next year
if it cannot be
used in the tax
year in which
it occurs. |
Starting
Your Own Home Business
Right here at this website,
I am offering you information
about a business that
you can operate from
the comfort of your
own home that is truly
changing lives, including
my own. You can take
advantage of this opportunity
to start your own home
based business and also
begin to capitalize
on all the tax benefits
of being a home-based
business owner.
As you have read here
today, there are many
tax benefits you can
receive just by starting
a home based business,
and you do not even
have to turn a profit
immediately to take
advantage of these benefits.
The tax advantages of
a home based business
are so great, that the
idea of starting your
own home based business
is one you should take
into serious consideration.
To find out more about
the best home business
opportunity available
to you, I encourage
you to take that first
step right away. Fill
out the form below,
and I will provide you
with additional information
about the opportunity
that is enabling me
to live the life of
my dreams, and it also
lets me keep more of
the money I make. I
look forward to hearing
from you!
Success in business
and in life is up to
YOU... Take a
chance. Make it happen.
Sincerely,
Lars
Shallberg
(831)
459-8159
EMail
