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Uncle Sam Will Pay You To Run a Home Based Business - R. Darren Sanford, CPA, CGMA
Aug 052011
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I have some good news and some bad news.

First, the “bad” news.  Working Americans are being strangled by taxes!  Every month we pay more in taxes than we spend on our family’s housing, food, transportation and health care – COMBINED!
About half of your hard-earned wages are sucked out for various forms of taxes even before you’re given the left-overs – called ‘your take-home pay’.

Now, the “good” news.  Home-based business owners now qualify for more tax deductions than any other category of taxpayer in America, bar none! 

Running a part-time home-based business is the BIGGEST way – the ONLY way – the average person can have a major impact on slashing his/her taxes.

If you don’t have a home-based business, you’re paying way too much in taxes. 

Congress has approved major tax breaks specifically for those who have a home-based business because home-based businesses play an important role in stimulating and supporting the American economy.

The tax benefits to home-based business owners tend to change frequently and when they do change, they just seem to keep getting better and better.  If you do not have a home based business, you are losing out on all these huge tax deductions.  Period.

You must “qualify” for them, but that’s EASY!

The IRS is very specific about the requirements for qualifying for home based business deductions.  Qualifying simply requires you to:

  1. Work your business on a regular and consistent basis
  2. Be trying to produce a profit.
  3. Keep good records

That’s pretty much it.  NOTE:  you do not have to make a profit before qualifying for the deductions – just be working toward making a profit.

That’s how to qualify, now what do you qualify for?  Your home based business tax breaks come in the form of a long list of tax deductions ranging from rent and utilities, to furniture and fixtures, to cars and trucks and even trips and entertainment.

Home-based business tax deductions have helped many people cut their taxes by up to 30-50% or more!  The amount of tax savings can be enough to ward off a bankruptcy, to avoid foreclosure, or pay for running your home-based business.

You get big tax benefits if your home is your principal place of business.  Having a home office can allow you to convert thousands of dollars worth of normally non-deductible personal expenses into tax-deductible business expenses.  They include a portion of your mortgage or rent (yes, RENT can be deductible!), heating, air conditioning, electricity, natural gas, oil, water, sewer, trash collection, recycling fees, HOA dues, house cleaning, exterior painting, security alarms, maintenance costs, home repairs and much more.

Qualifying is easy if your business is based in your home, and if the home office area if used regularly and exclusively for business.

For more information on slashing your taxes, check out the FREE video below.

If you’re not making twice as much money part-time as you are in your full-time J. O. B. and you want to slash your taxes with your very own home based business, check out this opportunity presentation…http://itmakesscentz.scent-team.com/videopresentation.php

Disclosure of Material Connection: Some of the links on this blog are “affiliate links.” This means if you click on the link and purchase the item, I might receive an affiliate commission. Regardless, I only recommend products or services I use personally and believe will add value to my readers. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”

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