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  • Hub You - Tax Advantages of a Home Business

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    tapes), books, product samples/Newspaper ads, flyers/gifts and website fees)
    6. Mileage (if you drive to meetings or drop off products to others)
    7. Meals (ex. restaurants discussing your business, prov
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    Why is it a good idea to start a home business? Taxes. There are a lot of tax deductions that help lower your tax bracket. Working from home is a great way to make money, save money and keep your money.

    1. If you have to order every month in order to receive your check then the products are deductible.
    2. Start up costs, like memberships are deductible.
    3. Utility costs are deductible. Keep in mind only a percentage is deductible. (ex. electricity, phone and cell phone, internet service, water, sewer and garbage, rent/mortgage and house repair. Only deduct how much you use for business purposes.
    4. Office supplies. (ex. Pens and paper, computer, printer, adding machine, enrolling forms, chairs, desk and etc)
    5. Advertising for your business. (ex.logo products/company literature, seminars/Trainings (CD’s / tapes), books, product samples/Newspaper ads, flyers/gifts and website fees)
    6. Mileage (if you drive to meetings or drop off products to others)
    7. Meals (ex. restaurants discussing your business, provi

    What Are You Worth
    My millionaire mentor taught me another way you can quickly increase your income is to find out what are you worth. Let’s say you work for one company. Can you go out and look for more job options with other companies? To be in a stronger position to negotiate what you want to have is at least 3 or more alternatives where you co
    1. If you have to order every month in order to receive your check then the products are deductible.
    2. Start up costs, like memberships are deductible.
    3. Utility costs are deductible. Keep in mind only a percentage is deductible. (ex. electricity, phone and cell phone, internet service, water, sewer and garbage, rent/mortgage and house repair. Only deduct how much you use for business purposes.
    4. Office supplies. (ex. Pens and paper, computer, printer, adding machine, enrolling forms, chairs, desk and etc)
    5. Advertising for your business. (ex.logo products/company literature, seminars/Trainings (CD’s / tapes), books, product samples/Newspaper ads, flyers/gifts and website fees)
    6. Mileage (if you drive to meetings or drop off products to others)
    7. Meals (ex. restaurants discussing your business, prov
    A Logo Isn't A Tattoo! Why Your Personal Tastes Have Nothing To Do With Your Logo
    As a business owner, one of the most important business decisions you'll make is choosing the design of your logo. Whether you design the logo yourself or hire a designer, you'll have to make some decisions during the design process.But you want to make sure that the logo you decide on will work well. Many business owners
    y a percentage is deductible. (ex. electricity, phone and cell phone, internet service, water, sewer and garbage, rent/mortgage and house repair. Only deduct how much you use for business purposes.
    4. Office supplies. (ex. Pens and paper, computer, printer, adding machine, enrolling forms, chairs, desk and etc)
    5. Advertising for your business. (ex.logo products/company literature, seminars/Trainings (CD’s / tapes), books, product samples/Newspaper ads, flyers/gifts and website fees)
    6. Mileage (if you drive to meetings or drop off products to others)
    7. Meals (ex. restaurants discussing your business, prov
    Backing Up Your Computer Is Essential to Your Business
    Did you know:* 1% of all computer data loss is caused by acts of nature* 6% of all PCs will undergo an incident of data loss during the year* 30% of all data loss occurs through human error (accidental data deletion, damaging hardware by dropping a laptop, etc.)* 40% of all data loss is due to hard dr
    ce supplies. (ex. Pens and paper, computer, printer, adding machine, enrolling forms, chairs, desk and etc)
    5. Advertising for your business. (ex.logo products/company literature, seminars/Trainings (CD’s / tapes), books, product samples/Newspaper ads, flyers/gifts and website fees)
    6. Mileage (if you drive to meetings or drop off products to others)
    7. Meals (ex. restaurants discussing your business, prov
    Is A Limited Liability Company (LLC) Right For Your Business?
    Up until a few years ago there were only 3 types of formal business formations. These were the corporation, a partnership and a sole proprietorship. Each had both positives and negatives and depending on your situation, you would choose the right one for you.The latest business type however has attempted to create like
    tapes), books, product samples/Newspaper ads, flyers/gifts and website fees)
    6. Mileage (if you drive to meetings or drop off products to others)
    7. Meals (ex. restaurants discussing your business, providing food while discussing your business at home.)
    8. Any out of town business expenses. (ex. airfare/hotel/all “fees” related to traveling, some meals and entertainment expenses (subject to some rules and limitations)
    9. Operating expenses (ex. fees to receive reports on your active business, postage, in-home expenses, snacks/tea/coffee/samples, demonstration supplies and cleaning your office.)

    These are just a few deductions that benefit having a home business. Depending on the business you chose depends on how many you use. For the most part my suggestions are used for any home business. Consult a tax advisor before using these to make sure they apply to your business and what percentage to deduct.

    With anything related to taxes, keep receipts. Keep legible records of all activities in your business.

    Tax

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