Home Business Tax Deductions
72The Average American Has $100/wk withheld from their paychecks from Federal Withholdings
That means that over the course of a year the IRS takes $5,000/yr from the Average American
How Much Money Does The Federal Government Take From You Per Week?
Per Year??
Look at Monday's from now on as "Uncle Sam Day" because you are donating 20% of your income to the Federal Government every week to do what ever they want with. That means that you spend 1 work day every week just paying them money
What Could You Do With That ____________ The Federal Government Takes from you
Per Year?
That is the amount of money we want to put back in YOUR packet!
The Million Dollar Question is: How Can YOU get that money back?
The Answer: You Need To Create Tax Deductions!
You CAN NOT control what the Federal Government does with your Tax Money but you CAN control how much money you give them!
Millions and Millions of Americans are taking Tax Deductions on a Schedule C every year
Go to the IRS site to see a copy of a Schedule C
So The REAL Question is: Why aren't you?
You must be either CRAZY or INSANE to NOT be running a Home Based Business if you live in the US and filling out this Schedule C every year
You HAVE TO start taking advantage of these WONDERFUL Tax Benefits the Government is willing to give YOU
Tax Deductions you will have by running a Home Business
1. Part of your Rent/Mortgage $200/MO - $2,400/yr
2. Cell Phone $50/MO - $600/yr
3. Meals $200/MO - $2,400/yr
4. Internet $50/MO - $600/yr
5. Phone $50/MO - $600/yr
6. Electric/Gas $50 - $600
7. Office Supplies like paper clips, paper, pens, printer ink, envelopes - ($20/MO) $240/yr
8. Your Initial starter pack for your business- $365 (just a one time investment)
9. Your monthly autoship with shipping $70/MO - $840/yr
10. Leads $100/MO - $1,200/yr
11. The Renegade Network Marketer $30/MO - $360/yr
12. Business Cards - $50
13. Business Logo Clothing and/or Gear - $50
Just with these minimum deductions you will be SAVING over $10,185 EVERY YEAR on your Taxes! Which will go al LONG ways towards getting most if not all your money back!
Other Possible Deductions
13. Out of Town Conference in Vegas or San Diego $2,000
14. Books you buy $20/MO - $240/yr
15. Autoship for spouse $70/MO - $840/yr
16. Extra Leads $100/MO - $1,200/yr
17. Stamps and Postage - $60/MO - $720/yr
18. $1500 New Computer - $500/yr depreciation for the next 3 years!
That's Another $5,500 in deductions you can take right off the top of your taxes!!
That is a Grand Total of $15,685 (and that is a low number) of Tax Deductions I just showed you that YOU can take that will get you back most if not all the money the Federal Government took from you!
And There Is 1 More Reason WHY you Should Run Your Own Home Based Business..
IF you own your own home based business you get to put your money into something called a SEP IRA!!
A SEP IRA is a retirement account that you can put up to 20% of your Income into (up to $45,000/yr) and write the WHOLE thing off as a Tax Deduction!
So let's say within 6 months to a year you start making $2,000/wk with MLM and you decide that you want to put $1,000/MO into a SEP IRA. That means you can add another $12,000 in Tax Deductions ON TOP of the $15,000 I showed you how to take earlier!!!!!!!!!!!
That's a Grand Total of $27,000 in Tax Deductions I just showed you how to take!!
The More Deductions You Have,
The Less Taxes You Will Pay,
And The Higher Your Tax Return Will Be!
10 Things you NEED to do right now:
1. Get 12 folders and label them
Buy a file box - This $5 box actually saved me over $20,000 on my taxes last year!
1. Rent/Mortgage payments
2. Meals and Entertainment
3. Cell Phone
4. Home Phone
5. Internet Service
6. Electric Bills
7. Gas Bills
8. Office Supplies
9. Durable Equipment
10. Education
11. Product orders
12. Advertising Expenses
2. Make sure you are on a autoship - it is 100% Tax Deductible!
3. Make sure you get on Leads at The Renegade Network Marketer - it is 100% Tax Deductible!
4. Get your business cards and Clothing - it is 100% Tax Deductible!
5. To read a great article on owning a home based business and getting HUGE Tax Benefits.
8. Buy this book called Lower Your Taxes - The first sentence says it all - 'You'd be brain-dead not to start a home-based business'.
9. For more information to download the complete Home Based Business Tax
look for "Guild" by Ronald R. Mueller.
10. Some people recommend using Turbo Tax Home and Business Software to do your taxes - I personally use a CPA
If you decide NOT to do these 10 steps listed above then what I want you to do for the rest of your life is take a $20 bill out of your wallet every morning on your way out the door to work and light it on fire because everyday that you are NOT taking advantage of these tax benefits and using these tax deductions it is COSTING you $20 CASH EVERY SINGLE DAY!
The ONLY reason that you will not get back ALL your money from the IRS (or even worse - owing money to the IRS) is because you did not accumulate enough tax deductions over the course of the year and when you find out that you did not get all your money back or that you in fact owe money to the IRS you are going to wish you had listened to all the advice I have given you in this recording.
So I pray that you truly use this valuable information that I just gave to you. If you do exactly what I tell you to do here you WILL save over $20,000 every year on your taxes!
That is over $200,000 that YOU will save on your taxes over just the next 10 years alone!
If you are NOT running a home business yet I hope this recording was enough to help you see WHY it is so important to get in business TODAY!
If you are already in a MLM make sure you KEEP your autoship active EVERY MONTH or you will LOSE the $20,000 in tax deductions I just went over with you and that would be flat out STUPID!
A Business note from Angela
You may have heard of Affiliate Marketing. It is where you offer information products, tools and software, seminars and courses, even physical books and materials to help distributors in the network marketing industry learn how to effectively build their businesses.
Tax Poll
Do you recieve at least $500.00 back in Tax Returns?
See results without voting- Contact Angela Brooks
Click this link - Recommended Reading
My library of business books - I suggest them all. Theirs a golden nugget in each one - Passion Branding by Majoring in the Minors
Network Marketing Professional - Angela Brooks is living with purpose. Find out how she became successful in network marketing. - Free Business Tips
If you are open to learning fill out the form on the blog and stay updated on this information. It is something you can apply to your own business - Follow me
These are the other links I also use and you can find me there. Stop by and say hello
PrintShare it! — Rate it: up down flag this hub
Drop your Comments here
Great hub Angela! It's nice to see all the possible deductions laid out. I think this will inspire more people to start their own home business. It's what Robert Kiyosaki recommends after all!
Thanks Renegade coach: I am reading one of Robert Kiyosaki books right now. I have the highligter out and taking notes.
Angela, Very thorough Hub with lots of good information. It isn't how much you make--it's how much to take home. Thanks.
Judy
Hi Angela, Great article. Many people don't realize the tax advantages of a home based business. Barbie
Hi Angela,
This is the weakest part of "my game." Thank you for slapping me in the face with it. That's what I need. You seem to be on top of this stuff. Good for you. I found a lot of value in this hub, and will actually bookmark it just so I can remember to get back to it later so I can remind myself of what I'm not doing.
Great advice and hub! Thanks! :)
Thank you Tom - as Eric stated - this is the waekest part of most people's home business. The simple things they miss that can be used. Glad you liked it
Angela
It's still the weakest part of my game - do you know anyone who can help? Seriously. There is a huge need for this kind of service.
Eric
Eric - Yes this is something people do not think is important and it IS just as much as making money - This can save you thousands that the government will get if you do not take action.
I have learned so much from Dave Ramsey financial peace universityand http://www.crown.org/ I refer to these alot.
No one wants to lose money since we all work so hard to get it - make even more that is sitting right there waiting for you to reclaim it by talking to your CPA - or reading more about it
Eddie Perkins says:
16 months ago
Angela,
It is great to see another hub from you.
You are so right. I was amazed at our tax refunds after starting our home based business.
Thanks for the great hub. ~ eddie