Home Business Tax Benefits

It's how much you KEEP that counts, not how much you make!

It's important to know as much as possible about what tax benefits you can have with a home based business...

If you have a Home Business now, you very likely qualify to slash your taxes by 50% or more this year! There are MANY home business tax benefits and mlm tax deductions.... The IRS now concedes that a "business is a business" , no matter what size or where it is located...

Did you know that you can deduct your rent, mortgage , utilities, home repairs, phone bills, dsl internet service, and even lawn mowing are deductible up to the percentage of your home used for your home based business!

Because with a home-business, your home is your office..and the costs to maintain it then become home business tax advantages!

Oh, and GET THIS....Since you have a business based in your home , HIRE your kids to vacuum, dust, take out the trash.... The expense is tax deductible to you, and the income is tax-free to them! (My kids LOVE the idea!)

The limit changes yearly but it is around $4500 per child and if they are under 18 - they are exempt from payroll taxes.... The only limitation is that the child has to be at least 6 years old.

Now, you CAN'T pay them $100 an hour to take out the trash!But if you ask a maid service to give you an estimate of what they would charge and then pay accordingly - it will save you a bundle in taxes as your home business gets established!

For the beginner work at home Mom, this can be huge, especially if you start making a lot of money!

Legal Home Business Tax Write Offs...

• Mortgage Interest or Rent
• Gas, Electric, Water and Sewer
• Cleaning Crews to Dust, Vacuum and Empty Trash
• Computers, Copiers, Fax Machines and Telephones
• Paper, Pens, Ink Cartridges and even Postage
• Desks, Sofas, Coffee Tables and other Furniture
• Painting, Wallpaper, and other Repairs/Remodeling
• Phones Bills, Cell-Phones, Pagers and Palm Pilots
• Newspapers, Magazines, Books and On-line Media
• Plane Fares, Hotels, Meals, while Traveling
• Dinners, Ball Games, Theater Tickets & Health Clubs
• Security Alarms, Hidden Cameras and Guard Dogs
• Health, Life, Dental, Disability and other Insurance
• Company Cars and even Boats
• Gifts to Charity, Non-Profits, Libraries & Colleges
• Contributions to Employee Retirement Plans
• Holiday Cards and Postage and Gifts

These are SOME of the mlm tax deductions you can figure off your taxes home business - Some of your deductions are based on the percentage of office space to footage of your home...

For instance, if your home business office takes up 10% of your home, then you can deduct that percentage of your utilities,rent,etc...

I have my office spread out in several rooms as I have 5 kids so my computer is in my living room as it is also used by other members in my family, my desk and phone are in my bedroom - as I need to close my door to avoid all the background noise when I am on the phone....

So when I go to get my percentage of what I can deduct, I simply figure out my floor space. Please note, however, that if you do not have your office in one spot and use it exclusively for your business, you will only be able to deduct a percentage of certain things, like dsl, phone usage, etc...

And If You Love to Travel....!!

A business based in your home does not need to have any territorial limits. Your customer- or client-prospects may be anywhere in the United States, or North America or even the world.

This means that, wherever you travel you could be traveling on business, and reasonable business-travel expenses... are tax-deductible, even if tied into personal travel or family vacations!

Pay close attention, because the IRS rules about tax-deductibility of business travel are very specific. But they are also very clear, so you should have no problem making sure you are staying within the legal parameters.

This is one of my favorite parts!!!

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