Home

home_business Directory


More
home_business Articles

WRITERS WANTED! (click-me)

Feature Article:

Dedication is essential to your home business success
What is dedication? The definition in the dictionary is: "The act of dedicating or the state of being dedicated". Have you ever been in a situation were things weren't going the way you wanted or expected? What did you do? Did you decide...
...Read More

Ideas to Create Own Work At Home Online Business Product
The voice you heard by the majority of people in the Net is true, the real true money generating machine is to offer your own product or service where you can keep 100% of the profits. Before you even start creating or introduce your own...
...Read More

worldabooks.com

Cut Your Taxes And Receive a $5000+ Refund - Start A Home Based Business

worldabooks.com       Navigation

I want to let you in on a little secret that not too many people are aware of: Owning a home-based business or any type of business can virtually cut the amount of taxes you owe each year.
The amazing part about this is your business does not have to make a profit in order for you to declare deductions. According to an article written by Jeff Schnepper, "All you have to do is establish a "profit motive." Under the Internal Revenue Code, a "profit motive" is presumed if you earn any net income in any three out of five business years. It's recognized and expected that new businesses probably won't make a profit in the early years. In fact, in the early years, you can insist that the IRS defer any challenge for the first five years as to the legitimacy of your business by filing Form 5213.
Remember you don't have to show a profit -- just a "profit motive." In one case, despite 20 years of losses, the court found a profit objective and allowed the deduction of business losses in full for one company. The case was not unusual. The test for deductibility is whether you have an actual and honest profit objective. You need not have a reasonable expectation of a profit. While the Tax Court requires a primary or dominant profit motive, the U.S. Claims Court has held that having a reasonable chance to make a profit, apart from tax considerations, will suffice." To read the entire article "The ultimate tax shelter: owning your own business" click here.
The following are some tips to starting your own home-based business:
Determine What Type Of Business You Would Like to Own. There are literally thousands of home based businesses that can be started for FREE.Imagine that! What do you like to do in your spare time? Do you have hobby? Can you turn your hobby into a money-making vehicle? If you don't have an idea of what type of business you would like to start, I have listed a few businesses below:
Entrepreneur Magazine - www.entrepreneurmag.com
Coastal Vacations – www.closethesale.netfirms.com
AmeriPlan USA – http://www.deliveringonthepromise.com/tjj33
List of Home Businesses - www.homebusiness.com
The next step is to Develop a Business Name.
The name you choose for your business will depend on what type of business you would like to open. Pick a name that describes your business and tells something about who you are. Your local government office can help you get your name registered in the state you reside. Note: this step is not necessary if you decide to start a small home business.
If you need additional help go here - www.sba.gov and www.familyhaven.com Now, once you have completed the first two steps you are ready to start promoting your business. This process can be a bit tedious, but in the end it is well worth it.
Here are a list of sites that can help you promote your business via Search Engines, Directories, FFA Sites, Email Marketing and Classified Ads:
www.google.com, www.addme.com, www.sendtronix.com/aff/999, www.adlandpro.com
THIS STEP IS THE MOST IMPORTANT!!!!
KEEP RECORDS OF ALL FINANCIAL TRANSACTIONS RELATED TO YOUR HOME BASED BUSINESS.
There are literally thousands of deductions you can take as a home based business. These deductions alone can add up to a substantial refund at the end of each tax year. Accurate record keeping is essential. Every transaction you make in relation to your business could result in a large tax refund at the end of the year. Keep record of everything…advertising expenses, monthly membership expenses, travel expenses, electricity, heat, rent/mortgage expense, water, telephone, equipment purchased, repair and maintenance, etc.
There are a number of applications available that can help you keep record (Quicken, Microsoft Money). Make sure you have this information available for your accountant or tax preparer each year. This will simplify the process.

About the Author

Theresa James-Johnson is the publisher of MLMMentors Ezine and owner of the Free Money Web website. You can contact her at:mailto:tjohnson.pdc@mindspring.com. Subscribe to MLMMentors Ezine and get one free ad by sending any email to: tjohnson.pdc@mindspring.com or visit www.freemoneyweb.netfirms.com for tons of free resources, moneymaking programs, and information.

worldabooks.com

More Reading:


Will Your Home Business Succeed Or Fail

MLM The Good The Bad and Your Home Based Business

What Is The Right Time To Start Work At Home Make Money Online Business

Why a Newsletter Will Help Your Home Based Business

HOME BASED BUSINESS MLM IS IT FOR YOU

 
Home Business Ideas Turn Into Profits With Hard Work

Mail Order A Great Home Business Idea

Focus On Your Target Market To Achieve Home Business Success

Find The Right Work Home Business Resource

Financing Your Home Business

home_business Home

home_business Directory

Additional Reading


Will Your Home Business Succeed Or Fail?
You may operate a home business selling services or products, but no matter which kind of business you're in, there's always a question in the back of your mind: will my home business succeed or fail, or do I have the motivation it takes to keep it...
...Read More

MLM - The Good, The Bad, and Your Home Based Business
MLM, or multi-level marketing, is a legitimate and potentially lucrative way to have your own home based business.  By directly selling products while creating your own upline downline, you can work your MLM business part-time, from home, and...
...Read More

What Is The Right Time To Start `Work At Home - Make Money Online' Business?
Timing your work at home business wrong can prove to be your worst blunder! Are you contemplating working from home? Its a great way to earn a living online. People across the world are doing it. The conveniences it offers are many. Freedom to...
...Read More



 

 

Internet Search for: home_business, profit, business

[an error occurred while processing this directive]

 

Copyright    worldabooks.com