Top 10 Tax benefits of a home-based business-
If You Are a United States Federal Income Tax Payer.
Top 10 Tax Benefits of a Home-Based Business
#1. Imagine, being able to write off a portion of your rent or mortgage, a portion of all your utility bills, and more on your US Federal Income Tax as tax-deductible business expenses.
#2. Imagine, every time you make a trip to Starbucks (or any other favorite coffee hangout), being able to write off your mileage to get there, plus the 50% of the cost of your coffee or meal as tax-deductible business expenses, and then if you have a fun event before or after your business discussion, you may be able to write of 50% of your fun too!!
#3. Imagine, every time you take a road trip to visit that distant cousin you haven’t seen for 13 years, being able to write off your mileage at $0.59/mile (2015 Deductible Mileage Rate), as a tax-deductible business expense, because you talked to a few people on the way to your destination about your business.
#4. Imagine, every time you take a vacation, being able to write off some or all of your vacation cost as a tax-deductible business expense, because you talked to some people about your business during the trip (You must keep careful documentation of who, why, where, when, and how much your expenses were. You should do this on a daily basis._
#5. Imagine, being able to write off your next skiing trip as a tax-deductible business expense, because you talked to some people about your business while you were on your trip. You actually have to have a discussion, and the person you are discussing your business with must be aware that they are in your presence to have a business discussion.
#6. Imagine, being able to write off the cost of your blog, website hosting, and domain name (ya know, like this one), as a tax-deductible business expense, because you’ve shared the URL with prospective customers and/or business partners. (Hey, if you don’t want to share yours, share some of ours)–http://healthybenefitsofaloe.com, http://pdlpro.biz/labrat1952, and http://jcfisherandassociates.com We certainly would appreciate it.
#7. Imagine, being able to write off that cost of your lead management system (like the one we offer for a $1.00 trial cost), as a tax-deductible business expense. And we give you more value for the money than those other high-priced lead management systems, like A**ber and G**Res*onse, Plus we give 5 days every week of LIVE Social Media Marketing training, not that pre-recorded rubbish those high-priced systems offer.
#8. Imagine, being able to write off the cost of all your future trips to the supermarket at $0.59/mile, because each time you go, you talk to someone about your business or products. (Remember, you need documentation of WHO you talked to, WHERE you talked to them, WHAT you talked to them about, WHY you talked to them, and HOW MUCH your expenses were. Get contact info, such as phone, address, eMail, etc. Get yourself a good tax ledger and document everything you do on a daily basis.
#9. Imagine, being able to write off the cost of your tea or coffee, because you give away samples with your tax-deductible business card attached when you approach people buying tea or coffee in the supermarket and say to them, “Hey, how much is Lipton paying you to drink their tea?” Then they say “Zero” and you say, “Would you like to try a free sample of a tea that you could get paid to drink?” Some line works if you are in a business that offers coffee. Again, remember, WHO, WHAT, WHERE, WHEN, WHY, and HOW MUCH. Document, Document, Document!!!
#10. Imagine, being able to write off some or all of the cost of a housekeeper, because they maintain your house in a sufficient condition to allow you to hold product launches or business opportunity meetings in your home.
There may even be more tax-deductible expenses that you could be entitled to. We recommend that after you start a home-based business, you keep impeccable records of mileage, who you talked to, where you talked to them, their contact information (name, phone, e-mail, etc.) all the receipts involved in your encounter (like if you bought them coffee or anything else). We also recommend that you discuss all of your tax-deductible expenses with your tax-preparer (who will also be tax-deductible if you have a home-based business). The tax benefits of a home-based business for outweigh the start-up costs. Enjoy the tax benefits, and have fun growing your new business. Don’t forget to take advantage of the special offer below.