Keep More Of What You Make

 

Thousands of people each year start a home-based business.  They dream of firing their boss, setting their own hours, being able to stay home with their children, and of course to make money.  What many don't realize is that they may be throwing away thousands of dollars because they don't know the tax breaks available to them or how to fully qualify for them.

It is a fact that Congress has approved major tax breaks specifically for the home-based business owner.  You only need to know how to qualify for them.

Many years ago when I started my home-based businesses, I was fortunate enough to come across a resource that has literally saved me thousands of dollars each year.  Until reading and applying the simple steps that I learned, I was just throwing away my money each month.  It didn't even matter that I had my accountant preparing my tax returns...I was still losing money.

Below I want to share just a few of the things I've learned and why I believe that every small and home-based business owner should not be without this information.  And if you don't have a home-based business yet...you should seriously consider it!

How To Qualify For Huge Tax Saving Benefits

According to IRS requirements, you must run your business with the intent to produce a profit  and work your business on a regular and consistent basis.  Also, keeping good records is a must.

Sounds easy enough doesn't it?  It really is, you just need to know how to do it the right way. 

Benefits Of A Home Office

Having a home office can change what would normally be personal expenses (which are non-deductible) into tax-deductible business expenses.  Some examples are monthly mortgage or rent payments, gas and electric, water and sewer, trash collection, house cleaning, security alarms, major repairs and much more! 

As long as you have a dedicated room or area in your home that is used regularly and solely for your business; you qualify for these and many more tax benefits.

Why would anyone in their right mind not take advantage of these huge benefits?

More Savings

  • Do you use your personal vehicle for your business?  If so, this alone could save you thousands by just following a few simple steps.
  • Do you have a child or children that you pay an allowance to?  IRS says that you can hire them and earn tax-free income.
  • Do you or your spouse have a job where you receive an employee paycheck?  You can bring home more money in that paycheck if you have a home-based business.
  • Do you have medical-related expenses that aren't covered by your employer provided health insurance?  Hiring your spouse in your home-based business can cover those costs.

The list of tax saving benefits for a home-based business goes on and on, but I think you're getting the idea here.  There is no better way to keep more of what you make than to have a business based out of your home!

If it weren't for Ron Mueller and Scott Turner's book It's How Much You Keep That Counts! Not how much you Make, I would be lost and with a lot less money in my pocket.

Hear from the author himself... Audio Message From Ron Mueller

Don't needlessly give another penny to Uncle Sam... Get your copy of It's How Much You Keep That Counts! Not how much you Make now and find out the many ways that you can get more tax benefits for your home-based business.