Having a Home Business has real Tax Advantages…
We’ve ALL heard there are many tax advantages to having a Home Based Business. A seminar conducted last spring listed over 50 ways one can DOCUMENT and DEDUCT BUSINESS EXPENSES from your U.S. Income Taxes, some of which you might not have considered!
As the IRS requires written documentation to qualify for the deduction, so KEEP ALL RECEIPTS!
The home based business industry was looked at, and the statistics showed that MOST individuals never produce profit from their company. However, our company is one of the few where statistics show many, many people earn profits… and doing so on a consistent or month to month basis.
Here is his list of potential deductions for your business:
Your MEMBERSHIP fees
Your INITIAL PRODUCT ORDER. Yes, even thought you’d be purchasing these types of necessity products elsewhere if you were not part of this business, NOW that purchase can be tax deductions!
Rent
Electrical Bill
Sewer/Water Bill
Insurance (not deductible at all for those without a home business!)
Cleaning Service (as long as they clean where you office is too!)
Garbage service
House/Office Repairs
Landscaping (if people come to your house on business)
Personal Training Expenses.
Advertising Expenses.
Newspaper ads
Flyers / Business Cards / Trifolds
Product Samples
Company Literature
Reproduction costs (photocopies, etc.) Labor Expenses paid to your children for Business related work.
Business Travel
Education
When you take into consideration the additional TAX ADVANTAGES, it makes EVEN MORE SENSE that the timing is right to change where you NOW shop to THIS COMPANY, using your Home Computer with your own HOME BASED BUSINESS….
Of course you’ll want to consult your accountant as laws vary from state to state, country to country and year to year, but we can promise you this: having a home-based business will help keep more of your hard earned money in your pocket.
