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With all the home business deductions and tax write offs, EVERYONE needs a home based business.

According to Ronald R. Mueller, author of the bestseller “It’s How Much You KEEP, That Counts! Not how much you Make.”- The average American who runs a home based business, either part time or full time, can qualify for so many home business deductions and tax write offs, that it is folly to NOT become involved in some sort of network marketing or home business.

If you can meet a couple simple tests:

Have a legitimate business, internet or network marketing, child care, direct sales,etc.

Work your business regularly for at least 45 min. to an hour a day, 4 – 5 days a week.

Keep record of your business expenses, income and activity

You can qualify for some huge home business deductions and tax write offs, which can greatly reduce your taxes and actually INCREASE the amount of your tax return.

Some of the home business deductions include but are not limited to:

Business use of vehicles, such as mileage when you run to the bank or P.O. – in fact, with a home business, you can literally turn many of those trips to town into a business expense!

Percentage of rent, mortgage,phone, gas, water, heat and other utilities

cell phones, blackberry’s, computers, printers, etc

Vacations – ESPECIALLY if you are in a travel related home based business. Turn ALL your vacationing into a tax deduction plus get paid while you travel as you can take your business with you in the form of a laptop and a cell phone!

These are just some of the home business deductions and if you go to IRS dot com, you will be able to get more detailed information or simply talk to a small business accountant in your area.

The average American saves anywhere from $2000 – $7000 in taxes by owning a home based business and taking advantage of all the home business deductions

Simply said, You LOSE when you do not have a home based business. The COST of not having a home business and taking advantages of all the tax write offs is about $20 a day – $100 a week or more.

Believe me, that is a lot of money going to Uncle Sam that could be going into your own pocket!

If you have any sort of business in your home, make sure you learn more about all your home business deductions before filing taxes this year.

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This entry was posted on Saturday, January 23rd, 2010 at 4:46 pm and is filed under Business. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.