HOME BUSINESS TAX CONSULTANT
Why does it take 2 people working to run a household when it used to take only one!
How come I can't save enough money to retire ? How am I going to send my kids to college ?
When are we going to be able to afford a decent car? How can I get rid of these credit card balances? How will we survive if I lose my job?
These are common questions for the 90's and questions with a common answer; When you start making your money more effective ! Over the last 10 years 37 million people have realized that owning a home based business is the most effective way of of making more money and keeping the money they make ! At the end of the next 10 years it is expected that one third of the U.S. population will be involved in a home based business. What's the big attraction?
A home based busines is in most situations a "Life Style" business, that means that you can be working at any time. This now makes most of the things you spend money on tax deductable effectively doubleing your earning power and giving the average person a $3,000 to $15,000 raise for the year.
The average home based business earns $50,250 per year compared with the average employee who makes $26,000 !
The "Virtual Company"
A Desk, a chair, a phone, an aswering machine, a fax and a computor comprize the new international company ! My personal business spans 3 contenents and literally costs pennys to run. The best thing abought it is that I have a 5 minute commute from my bedroom to my computor, I'm at work and no one cares that I'm still in my under wear ! Technology has now made it possible to live anywhere and do business world wide. And it is technology that allows us to help you be in business for yourself in 24 hours !
After you have started your own Home Based Business (Click here for some top picks)
use the following stategies to double your spendable income and quadruple your investments.
1. Turn personal things into business things.
Suppose that you love to take outdoor photographs and decide that you are going to turn a hobby into a part time business. You put an add in the local paper advertizing a picture taking safari to a national park in your area and people start to call. When the days arrives you take your new motor home to act as a base station for your safari and to provide lunches. That motor home which used to be a $50,000 sink hole just turned into a big deduction ! . What a huge difference in the way your money is used, instead of draining away your extra cash the RV would now be worth approx. $5,400 in tax free dollars to you. Put that another way, you would have given yourself a $2,500 raise. Now invest that for 30 years at 12% and you have a retirement fund of over $600,000 !!!!!!! Starting to get the picture?
2. Deducting your car.
Using the same example, your business needs to run it's errands like everybody else. Picking up film, scouting out potential sites to take your clients etc.etc etc. That now makes your car a business expense for which you write off the depreciation or a cents per mile rate.
3. Misc. deductions.
Because you are now in business for yourself, most of the "other" things you used to drop money on are now totally tax deductable ! Your camera, film, magazines etc. You're now doing something you love but Uncle Sam is paying you to do it! And best of all your husband or wife who used to srceam bloody murder for all the money you spend now wants and encourages you to do it !
4. Deducting a home office.
Now that you have your own business you need space to store your stuff and to conduct normal business activities. If you audit proof yourself you can take a big deduction and also sleep well at night !
5. Hire your spouse.(get deductable health insurance)
Can't handle the business by yourself? Then hire your significant other. With an employee you can offer a tax deductable insurance policy, while your policy is not deductable your spouse' is, they can then elect the family plan! His/her whole family gets covered and by golly that includes you!
6.How would you like to get $4,000 in tax free money every year for each child over 7 in your house ?
You can and many other deductions that can save you up to $15,000 next year ! Want to know the Whole Nine Yards ? CLICK HERE.
Does all this really make that much of a difference? YES IT DOES ! Out of ever 100 people, 97 of them end up broke at age 65. Only 3% are fully self sufficient. The difference is that the 3% pay attention to where there money goes. The choice is yours you can spend a few minutes a week manageing your money or you can give it away, it's up to you !
Questions ?
QUESTIONS E-MAIL CRAIG WALCOTT ChFC
FREE INTERNET ACCESS(click)
note
The information contained in this discussion is informational in nature and is not intended to take the place of your proffesional tax consultant. Before taking any deductions you should consult with your CPA, the IRS, read any and all written books and magazines on the subject, talk to Uncle Vinny, consult your horoscope, the phycic line and do any number of other useless things that the government beurocrates and an army of attorneys think you should do to avoid taking responsibility for your life !
Tax
Tax
Tax
Tax
Tax
Home Business
Home Business
Home Business
Home Business
IRS,IRS,IRS,IRS,IRS
Why does it take 2 people working to run a household when it used to take only one! How come I can't save enough money to retire ? How am I going to send my kids to college ? When are we going to be able to afford a decent car? How can I get rid of these credit card balances? How will we survive if I lose my job?
These are common questions for the 90's and questions with a common answer; When you start making your money more effective ! Over the last 10 years 37 million people have realized that owning a home based business is the most effective way of of making more money and keeping the money they make ! At the end of the next 10 years it is expected that one third of the U.S. population will be involved in a home based business. What's the big attraction?
A home based busines is in most situations a "Life Style" business, that means that you can be working at any time. This now makes most of the things you spend money on tax deductable effectively doubleing your earning power and giving the average person a $3,000 to $15,000 raise for the year.
The average home based business earns $50,250 per year compared with the average employee who makes $26,000 !
The "Virtual Company"
A Desk, a chair, a phone, an aswering machine, a fax and a computor comprize the new international company ! My personal business spans 3 contenents and literally costs pennys to run. The best thing abought it is that I have a 5 minute commute from my bedroom to my computor, I'm at work and no one cares that I'm still in my under wear ! Technology has now made it possible to live anywhere and do business world wide. And it is technology that allows us to help you be in business for yourself in 24 hours !
After you have started your own Home Based Business (Click here for some top picks)
use the following stategies to double your spendable income and quadruple your investments.
1. Turn personal things into business things.
Suppose that you love to take outdoor photographs and decide that you are going to turn a hobby into a part time business. You put an add in the local paper advertizing a picture taking safari to a national park in your area and people start to call. When the days arrives you take your new motor home to act as a base station for your safari and to provide lunches. That motor home which used to be a $50,000 sink hole just turned into a big deduction ! . What a huge difference in the way your money is used, instead of draining away your extra cash the RV would now be worth approx. $5,400 in tax free dollars to you. Put that another way, you would have given yourself a $2,500 raise. Now invest that for 30 years at 12% and you have a retirement fund of over $600,000 !!!!!!! Starting to get the picture?
2. Deducting your car.
Using the same example, your business needs to run it's errands like everybody else. Picking up film, scouting out potential sites to take your clients etc.etc etc. That now makes your car a business expense for which you write off the depreciation or a cents per mile rate.
3. Misc. deductions.
Because you are now in business for yourself, most of the "other" things you used to drop money on are now totally tax deductable ! Your camera, film, magazines etc. You're now doing something you love but Uncle Sam is paying you to do it! And best of all your husband or wife who used to srceam bloody murder for all the money you spend now wants and encourages you to do it !
4. Deducting a home office.
Now that you have your own business you need space to store your stuff and to conduct normal business activities. If you audit proof yourself you can take a big deduction and also sleep well at night !
5. Hire your spouse.(get deductable health insurance)
Can't handle the business by yourself? Then hire your significant other. With an employee you can offer a tax deductable insurance policy, while your policy is not deductable your spouse' is, they can then elect the family plan! His/her whole family gets covered and by golly that includes you!
6.How would you like to get $4,000 in tax free money every year for each child over 7 in your house ?
You can and many other deductions that can save you up to $15,000 next year ! Want to know the Whole Nine Yards ? CLICK HERE.
Does all this really make that much of a difference? YES IT DOES ! Out of ever 100 people, 97 of them end up broke at age 65. Only 3% are fully self sufficient. The difference is that the 3% pay attention to where there money goes. The choice is yours you can spend a few minutes a week manageing your money or you can give it away, it's up to you !
QUESTIONS E-MAIL CRAIG WALCOTT ChFC FREE INTERNET ACCESS(click)
The information contained in this discussion is informational in nature and is not intended to take the place of your proffesional tax consultant. Before taking any deductions you should consult with your CPA, the IRS, read any and all written books and magazines on the subject, talk to Uncle Vinny, consult your horoscope, the phycic line and do any number of other useless things that the government beurocrates and an army of attorneys think you should do to avoid taking responsibility for your life !
Tax
Tax
Tax
Tax
Tax
Home Business
Home Business
Home Business
Home Business
IRS,IRS,IRS,IRS,IRS