There are many advantages of starting a home business.  From making your own hours to eliminating commuting time, owning your own home business can be a very rewarding experience.  But perhaps one of the greatest benefits in owning your home business is the amount of deductions you are entitled to take every year on your annual tax return.  But before you start any home business endeavor ensure you check with both your local and state governments to make certain you are complying with all regulations regarding licensures, permits, zoning laws and legal policies.

 Once you have started your own business, you will be able to enjoy all the advantages of starting a home business, including the thousands of dollars you may be able to deduct each year.  Depending upon what type of business you have established, you may be able to deduct car payments and other types of auto expenses, such as gas or mileage, oil and maintenance fees. (Click here for more information)  Sole proprietors are generally able to deduct the cost of all home office supplies, including laptops and network equipment as well as costs for printers, fax machines, copiers and paper, and general office expenses, like stamps, envelopes, ballpoint pens and paperclips. 

 If you also own your home, you may be entitled to deduct a portion of your mortgage, property taxes and utility bills, such as electric and telephone.  Other tax advantages of starting a home business include deductions for travel expenses, whether by air, train or taxi.  Travel expenses also include hotel bills as well meals and entertainment.  Even while at home, you can deduct client dinners, parties and entertainment expenses if they were incurred while promoting your business.  Home business owners can also deduct health insurance premiums, as a regular corporate employer would generally provide these to their employees. 

 There are a few other tax advantages of starting a home business.  Any home office building related expenses incurred, even maintenance and repairs of your office can be deducted as a home office expense.  Security alarms are deductible, as well as home owners insurance.  Both accounting services and tax preparation services are also fully deductible.  Education or tuition expenses to further develop your current knowledge base of your trade are often deductible on your taxes.  Home business owners can also hire two of their own children to work for the business, but not be liable for any income taxes on their wages. 

 Click here for tax benefit guidance link.

 So, the point here is that you can do so much if you have your own business. You can save so much on taxes. Whereas, if you have a job you will not get to save anything on taxes. In a job you can not claim or write-off anything. In a job your paycheck will already have taxes deducted from it. At the end of the year when you file taxes, you have to again give money to IRS. I mean, think about it yourself.

 How wise it is to first pay the taxes in paycheck and then at the end of the year. A business man knows how to save all that money. A business man pays the taxes after calculating all his expenses and losses.

 In my home business we sell the Financial Information from a company called WMI. You can access information and learn more about WMI at http://wminow.com/hapishyguy. The commissions are awesome and start at $1000.

Education system at WMI teaches the tax codes and other useful and never known to public or a common man eg. What are the different ways to save money, how to look for deals from the govt. and even how to reduce your mortgage from 10-15%. Ofcourse, when you have money after starting your own business you need to know how to manage it. If you do not know how to manage your money and invest it in a right place so that it can multiply, your money will all be wasted very soon. You need to multiply your money.

 As the time will pass by the value for the bill will decrease. It’s only where and how the bill is invested holds the value of it.

 So by now you must have figured out which is better, to Have Your Own Business OR to Have A JOB ?

 Well, if your answer is “Have Your Own Business” then you have landed in the right place.

 You can Start Your Own Internet Marketing Business and Work From Home. Just fill your name and email at http://milliondollarresidualplan.com and follow the steps.

Sincerely,

Harprit Singh