Permenant Economic Stimulus

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By Support Your Biz



Create Your Own Economic Stimulus Package

Over the past few months, there has been lots of excitement over our government's attempt to stimulate our country's sagging economy with an Economic Stimulus Package which includes for many Americans a government check. I am sure some of you have already spent the money in anticipation of receiving the check. Not me. I'll believe it when I see it and only then will I think about spending it. Why? I don't trust our government that much.

When I first heard about this, I began to ponder a much more important idea. I believe that if each American who is interested in making a change in their economic future who put into practice the steps to creating a successful home business, they would see a permanent change financially over the next few years.

Tax Advantages

In the late 1970's, the government put tax breaks into effect that, if utilized, will help you far more than any quick fix they are offering today. As a CPA, I can tell you that starting a home business and putting 1-2 hours a day into that business will yield you an economic benefit far into the future.

Congress created the tax benefits for home business in the late 1970's when the economy was on a dramatic down-turn (much like today). Tax breaks were created to encourage people to develop home based business in a recession to keep economy going. They realized that just sending people a quick fix check was not the answer. Their goal with this stimulus package was to give incentives to enable people to start businesses on a part-time basis. Then when the plant closing came along or recession caused lay-offs, people would simply put more into the businesses they had already started and the economy would see an increase on productivity instead of a decrease.

How can this help you? By taking advantage of the tax breaks these laws allow, you can actually pay for your start-up and monthly fees until your business is operating in the black. Whether you decide to do an internet business, network marketing or direct sales, there are certain start up costs involved. There are also expenses which you are paying for today whether you have a home business or not. These include cell phones, internet access, home expenses, just to name a few. Click here for a complete list.

When you are operating a home business, these expenses are deductible on your tax return. So how does this help you pay for your business? If you or your spouse are working a traditional job, you completed a W-4 listing the number of exemptions your are taking. This determines the amount of taxes which are withheld from your paycheck.

Having a home business is like having an extra deduction. You can change your W-4 anytime and receive an instant pay increase. This additional money can then be used to subsidize your business. Make sure that you understand what is involved in running a business (click here to learn what the IRS calls a home business) and that you are willing to pay the price.

By having a home business, you are putting back into the economy, generating more income and putting it back into your business - a real economic stimulus package!

Where to Start

Sounds good? Where do you start? Before deciding on any specific business, I recommend reading The Renegade Networkmarketer. Although the title implies it is for network marketing, the principles apply to any business that is serious about increasing cash flow using the internet.

If you are interested in an internet business, Renegade University is also a great place to start understanding what it takes to build this business. Their step-by-step videos walk you through from beginner to expert. The great plus of RU is you can try the program for free.

Start your own economic stimulus package today - start your own home business. Do your research and find a business you can have fun with and learn!


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Other Resources

To learn how to KEEP more of the MONEY Uncle Sam SWIPES from You Every Single Payday!!! Check out the website Home Business Tax Savings.

Ron Mueller shows you how to save $300 - $600 per month in taxes. This can easily fund a home business that will put much more in your pocket than any government economic stimulus.

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