Why Every Employee Needs a Home Based Business

First of all everything I learned about home-based business tax savings I learned through self-education & finding the right mentors. Our tax-preparer is a former auditor for a fortune 500 company, and owns a home-based business, in addition to her tax partnership. I don’t prepare taxes-I simply educate people about what I’ve learned, knowledge is the antidote for fear.What I found out was most accountants or tax-preparers make no distinction between small-business owners & home-based business owners. Why? Because there are no classes or CEU for home-based businesses, since they have no incentive to learn about the distinctions, they simply don’t. The danger is, they give you advice based on incomplete education and because, well, they are the professional, we follow that advice.Have you ever heard the expression, “I was misinformed by misinformed people?” The 7 most dangerous words you can ever say are, “my accountant/taxperson/spouse/etc. takes care of my taxes.” In fact, they only prepare taxes from information they are supplied, my taxes are my responsibility. And with new tax prep accountability rules in place, the new rule of thumb is going to be CTA (cover their assets).My purpose in life is to lead every single W-2 wage earning employee out of the darkness and into the light, without fear of reprisals or retribution. Fear is the number #1 enemy of over paying, over taxed citizens.Think not? Quick survey, hopefully no one’s watching you read this: Touch your right nostril with your right index finger if you worked 3 years ago and got a tax refund…2 years ago…expecting one from last year.What’s my point? You gave the government an interest free loan, of what ever the amount your refund was. How long have you been working? How many of those years did you receive a refund? How many years have you been coming up with more month then money? You’ve been conditioned by society that this is acceptable; so your fear is rational, even logical, but is it serving you?I mean if people don’t have what you want or they’re in the same or worse position then you, why are you listening to them? At some point you have to question the source of your information or suffer the same fate as the delusional.Take heart there is a solution, my mentor told me, “taxes are how we pay for the goose that lays the golden egg.” The “golden egg” is the free enterprise system. Simply put, anyone in this country can start a business of their own choosing, at anytime. Taxes are how we support the government that supports this system. We’ll delve deeper into this subject in another article.I believe in paying every single penny in taxes I owe, not one penny more. As far as I’m concerned this should be the mantra for every American tax payer, especially those who work and have those taxes deducted from their paychecks before they even get them home.You know why it’s called take home pay? You can’t go anywhere else with it.Make no mistakes: I don’t want to help anyone get out of paying taxes, I want to help you stop overpaying them.It’s common knowledge that, what you don’t know CAN hurt you. Taxes prove this axiom. Middle income Americans are so scared of the being audited they don’t do anything. Even though, a home-based business offers more tax breaks than the super-wealthy can get with their expensive tax lawyers.I have news for you, Approximately 4,000 IRS external hires were enforcement positions during 2009. With the ever-increasing growth of e-filing, why would IRS be hiring new enforcement officers? With less time spent manually going over returns IRS agents have more time to conduct audits. So we’re all going to be audited and with more frequency.But if you have nothing to fear, then the audit, however inconvenient, is nothing more then routine. It’s akin to driving through a DUI/DWI checkpoint. If you haven’t been drinking and your paperwork is in order, “have a nice night.”The Government’s broke (some would argue “broken,” but that’s not up for debate here) they need those tax dollars and they have two ways to collect. One way benefits you and them, the other, only them.Did you know Congress authorized the IRS to give Huge Refunds and Deductions to taxpayers who have a home-based business, OR anyone who operated one at any time in the past 3 years? It’s true! If you currently have a home-based business or had one in any of the past 3 years, you simply file an Amended Tax Return (Form 1040X), and possibly get a Refund Check for THOUSANDS of DOLLARS…PLUS interest for any previous years you filed!Congress passed these tax laws for home-based businesses because they’re good for the economy.We’ve all heard about the escalation of expenses. It seems everywhere everyday something is going up in cost and take-home pay isn’t keeping up with those ever increasing costs. Then we hear how we might be asked to pay more taxes for less services and it’s no wonder why everyday average working citizens are in full retreat. However, you don’t have to fear and you don’t have to get angry, you simply have to get educated. Once you do, like I did, you’ll discover that only a crazy person wouldn’t have some type of part-time home based business.If you run your home-based business on a regular & consistent basis; with the intent to make a profit you can qualify for tax advantages that could mean as much as $5000 a year in your pocket.Think of it like this, you start a p/t home-based business, you’re not even in profit mode with your venture yet, but you’ve already given yourself a $5000 raise from your job-without having to ask your boss for a raise. In other words, you were making $30,000 a year now you’re making $35,000.Now not everyone is going to get a $5000 bump, some maybe higher, some maybe lower. Still the fact that you can decrease your tax burden should be incentive enough to learn more, unless like I said before, you’re not all there, in which case you most likely haven’t read this far anyway.You didn’t know, what you didn’t know, but now you know; so what are you going to do with this new found information? If you’re like me, tell everybody you know who has a job… Start by getting my special report the details are below.”Never doubt that a small group of thoughtful, committed citizens can change the world; indeed, it’s the only thing that ever has.”

Comments are closed.