Many people overlook this very important benefit but it can make a huge difference for you come Income Tax Day! Running a business out of your home can save you upwards of $5,000 or more on your taxes every year! Here are just some of the things you can write off:
* Your business start-up costs
* A portion of your house payment or rent
* A portion of your utilities
* Car expenses
* Magazine subscriptions
* Child care
* Telephone bills
* Office equipment (need a new computer?)
* Bank fees
The list goes on! Many of these things you have and pay for anyway! But now that you operate a business from home, they become a tax write off.
You can even pay your kids to work for you and write that off as well! Now that's a smart way to save for college!
Of course you'll want to consult your accountant as laws vary from state to state, country to country and year to year, but we can promise you this: having a home-based business will help keep more of your hard earned money in your pocket instead of The Tax Man's!
Our business has tremendous tax advantages!
Until next time, Charles!