Connecting the Dots

THIS IS A REVOLUTIONARY SYSTEM EXCLUSIVE TO HOME-BASED BUSINESS OWNERS!

All of these valuable resources are designed specifically to draw attention to the huge tax saving benefits of having a home-based business.

As a home-based business owner, you MUST do these basic things

• Operate your home-based business as a legitimate business.

• Be able to prove you intend to make a profit. (You do not have to actually make a profit before qualifying for these IRS-approved deductions. You can start taking them immediately!)

• Work your business on a regular and consistent basis weekly – minimum of 5-7 hours per week

• Keep brief, handwritten notes in an appointment book to document all your activities.

As a home-based business owner, these are a few of the IRS-approved tax deductions you can take!

Use your home as your principle place of business. Convert thousands of dollars in non-deductible personal expenses into deductible business expenses!

Leave your business card when you eat at a restaurant and take 50% of the cost on your taxes!

Take vacations as a business deduction by following a few simple guidelines.

Hold regular meetings to review your business in your home and save an amazing amount of money on your taxes! Take the business review meeting as rent.

Keep track of your vehicle mileage, write down everywhere you go or Use Mileage App to track your mileage by phone or text! You may have $3,000 to $6,000 or more in tax savings!

Steps for your new Distributor/Representative/Consultant, etc to take!

Step 1: Become an Independent Distributor/ Representative/ Sales Consultant, etc.

Step 2: Commit to the minimum required use of the product or service that your Company may require for additional compensation as an independent Distributor/ Representative/ Sales Consultant, etc

Step 3: Increase your allowances on your W-4. ( Pays for your Business) 

Step 4: Purchase your appointment book (Planner Pad) and start keeping track of mileage and daily activities.

Step 5: Plan to work a minimum of 5-7 hours per week of regular, income-producing activity.

Tax Time – Home Business Tax Savings Strategy All Income (W-2 and business Income) minus Expenses (convert personal expenses to business expenses & actual business costs) = $$$$$ Tax Refund

Continue to reinvest your tax refund (tax savings) back into the business to finance business expenses.

When should you become an Entity?

When your Form Schedule-C approaches showing a profit and there are no other legal tax deductions, it’s time to become an Entity (i.e., LLC, C-Corp or S-Corp). There are additional legal tax deductions you will be allowed by taking this step.

Click the HBB Button in the upper right hand corner and learn more!

 

 

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