KAZ Shares Tax Advantages: Business Owner/Employee/Home Base Business

As we move into the 2nd half of 2015, it comes to my attention that many people (including me) are not really understanding our Income Tax benefits for each of our business decisions.  No one really breaks down the tax money matters so that we can make informed decisions with how we choose to make a living which should include TAX ADVANTAGE BENEFITS. 

Many people (parents, educators, and religious leaders) focus on teaching us to: Get a good education so you can get a great job to afford to take care of yourself and family obligations. You see, they are comfortable with having enough to get by and maybe a few dollars left over for emergencies.  This idea was considered "The American Dream". You know, the "40-40-40" plan - work 40 years for somebody else, 40 hours per week to retire with 40 percent of your income.  I actually bought into that theory partially because I was a single Mom raising three (3) beautiful daughters with a house, car payments, and all the dressings.

The main message in this "40-40-40" plan is that this system is made for the rich while the rest of us remain enslaved to the system.  But, this is NOT the truth. Let's dissect the basic truth in today's  "American Dream".  One of the opportunities to be independently wealthy begins with understanding the INCOME TAX advantages as an EMPLOYEE - BUSINESS OWNER - HOME BASED BUSINESS OWNER.  In today's economy, having a job is great but when it comes to having a two (2) income household i.e. you having 2 jobs or both husband and wife have jobs, it's time to re-think the tax advantages of this decision.

Did you know that the Income Tax structure is designed for the Employee and Business Owner (not the rich and poor)?  Did you know that there are about 422 Tax Credits available for a Home Based Business?  Many choose to take advantage of these credits as a Non-Profit company but there are major government regulations associated with the Non-profit industry that one must comply. The following are just a few highlighted Income Tax Credits for you to consider. Remember: Always consult with your Tax Accountant before making any tax decisions.

1. CAR - .58.5 cents per mile/ 12,000 miles per year equals $6000, Plus your tolls. 

2. Vacation/Travel. - Other businesses only get to write off 50% of their travel because it’s incidental to their business. When Travel is your business, you take 100% write offs.

3. Home Office - Your business is in your home therefore a portion of your Mortgage, Rent, light, gas & utilities. 

4. Children – Hire your Children. Kids between the ages of 7 – 18 can be paid $5,450 per year. That’s $5,450 per child; per year will be a write off for your business because they will be an employee of your business. 

5. Computer – Home Computer, Laptop, Printer, DVD Player, T.V., Shredder.

6. Office Furniture/Office Supplies - Desk, Chair, File Cabinet, any Business 

     Equipment/Furniture, Printing paper, Ink, Pens, Pencils, Receipts, Books, etc

7. Cell Phones – Put your cell phone number on your business cards & talk 

     business on your calls.

8. Education – Any Class/Certification you have to take to further your

     education.

9. Internet Service – You need internet connection for your (travel) business.

10. Food – Business Lunch/Dinner. Get Costco or BJ’s Business Card and a portion 

       of your food you buy is a write-off (Travel Parties & Grand Openings)

11. Cable Bill – because of 2 channels….. The Travel & Weather we need to keep up 

       to speed with our business. What plan has both of these channels on them that 

       you can write off??? Think about it.

REMEMBER: The Tax system was created for two different people (not the rich and the poor) but for the Employee and Business owner. If you do not own a business with the intent to make a profit, you have none these tax advantages. These are just a few of the many write-offs you may be able to take.

There are actually over 422 different write-offs that can enable you to put an extra $3,000 to $15,000 in your pocket each and every year. Those who don’t know this are the VERY UNFORTUNATE ONES.

 

Always talk to a tax professional regarding your specific situation. Resource: “It’s How Much You Keep That Counts” By Ronald R. Mueller, MBA, Ph.D.

Many of us may already be Business Owners and/or Home Base Business Owners but not aware of all the tax advantages. This is the perfect time to work with your tax accountant for these tax advantages.  

If you are an employee, it's DECISION TIME!

You can have a JOB and a home based business as your #2.

Interested in a HOME BASE BUSINESS...

Getting Paid to do What you are Already Doing Anyway?

Traveling, Concerts, Super Bowl Games, Disney Theme Parks 

LET'S TALK!

Petra Parker, CEO/Owner

KAZ Diversified LLC

http://bit.do/buildyourbusiness

Travel Business Manager

678-250-5731

http://bit.do/hbtravelbusiness

"#1 Home Base Business Opportunity"