Coronavirus | "The Truth About Working From Home In 2020 And Beyond"
For the first time in many years, the Work From Home buzz has started all over again. Over the last 30 days, there have been over 450,000 searches on google for Work at Home jobs. I expect that trend to continue from now well into the future.
If you found this article through a google search, or someone shared it with you, I promise you, you are going to get much more than you bargained for.
If you are a mom or dad who has been working in the corporate world, are you really excited about returning to this?
Or this?
What do you think the number one benefit of having a business at home is?
I usually get answered like:
-freedom
-control my own schedule
-more time with family and children
-sense of accomplishment
-work harder and make more money
Etc. Etc. Etc.
However what you will discover if you start down this path is the TAX SAVINGS. We have all heard, “it is not how much you make, but how much you keep”.
Please understand I am not a CPA so get your tax advice from a licensed professional however a home business is the very best tax shelter in the world.
The moment you start your business you can take some or all of your normal everyday living expenses and convert them to tax deductions.
The moment you start your business you can take some or all of your normal everyday living expenses and convert them to tax deductions.
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Additional Resources:
=> "The Top 10 Reasons Why You Must Work for Yourself "<=
=> "The Legal Needs Of Every American Family" <=
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Here are just a few.
Advertising
All of your advertising expenses can be tax-deductible, such as printing flyers, business cards, Google Adwords, Facebook Ads, etc. You can even deduct expenses paid for PR and marketing agencies.
Travel Expenses
Do you travel to attend your business meetings or conferences? If so, then the expenses associated with transportation and lodging are also deductible. When it comes to corporate trips, your airfare, 50% of meal costs, and hotel charges can be noted down as business expenses.
Even if you increase the duration of your trip after the completion of your business commitment you can include your travel costs in your business expenditure. But, make sure the number of personal days on the trip doesn’t surpass the total amount of business days.
Remember, travel expenses for your family (spouse or children) are not deductible unless they are accompanying you for a legal business purpose.
Home Office Expenses
If you have a home office, you can also list these expenses for tax deductions. Here how:
- Fill out theForm 8829 to list down the expenses associated with using and optimizing your home office.
- Remember to include both direct expenses, such as renovations and office equipment and indirect expenses, like insurance and utilities.
RELATED: Best Negative Ion Air Filtration Systems For 2020
Insurance
As an independent contractor, you’re not eligible to be on your employer’s health insurance plan. But, luckily your health insurance expenses like, medications and premiums, are tax-deductible. Your business insurance expenses can be deducted too, so don’t let the cost hold you back from having the right contractors insurance!
The insurance you need depends on what type of contractor you are.
Finding the right coverage for your business can be daunting, turn to a reputable insurance provider for advice better yet consult a competent attorney in your area.
You can find 1 by clicking HERE now.
Phone/Cable/Internet Charges
Essential business utilities, like your cell phone bill, can also be deducted from you 1099. Even if you use your home phone or mobile for both personal and professional use, you can note down the portion of your cell phone bill for business. Also internet bill and cable bill (for research) can possibly be deducted.
UTILITIES
A portion of your utilities can be deducted electric, gas, utilities, and even trash pick-up or rent.
ADDITIONAL RESOURCES=======================How Exposing Yourself To More Negative Ions Can Have A Positive Effect On Your Health
Best Negative Ion Bracelets For 2020
The 5 Benefits Of Hard Candy Vitamins
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Licenses and Taxes
You can deduct any business certifications, licenses, and regulatory charges you pay for your business, such as incorporation charges and small business licenses for your state. In certain cases, some types of taxes are deductible as well, including:
- Local and state sales taxes–only for good or services sold
- Payroll taxes– this only applies if you have employees
- Federal highway use tax
- Property taxes on company assets
Interest
If you charge your company expenses on a credit card, the portion of the interest payments can be listed as company expenditures, and are therefore tax-deductible. Keep in mind that there is a specific limit to the deductibility of this interest.
Other Additional Expenses
There are several other basic yet essential costs that are often overlooked and undervalued by most independent contractors. Some of these common deductions include:
- Debt
- Expenses for defending or acquiring trade names and trademarks
- Start-up costs of the business including product samples
The Bottom Line
These are just some tax deductions for independent contractors. You should be aware of these in order to decrease your taxable income. Of course, you should always contact your accountant or tax advisor before you claim any of these tax deductions.
When you figure the wear and tear on your car, the clothes, meals, and childcare expenses most families have when they have jobs outside the home, a home based business makes more sense, simply because of the tax benefits if nothing else.
NOTE: In fact starting a Home Based Business is THE Best Tax Avoidance, Lowering Strategy For ANYBODY as This Book=> 475 Tax Deductions for Home Based Businesses and Self-Employed Individuals: An A-to-Z Guide to Hundreds of Tax Write-Offs explains.
NOTE: In fact starting a Home Based Business is THE Best Tax Avoidance, Lowering Strategy For ANYBODY as This Book=> 475 Tax Deductions for Home Based Businesses and Self-Employed Individuals: An A-to-Z Guide to Hundreds of Tax Write-Offs explains.
If you don’t have a side gig business you are throwing away thousands of dollars of year by paying more taxes than you could be.
DO YOU REALLY UNDERSTAND THE PARAGRAPH YOU JUST READ? This is not marketing hype, nothing here to sell you, its just facts that you shouldn’t ignore.
If You Got All The Above The You're Ready to Follow these 3 Steps:
(They are mandatory to increase your odds for Success)
3) Invest a small amount of investment capital and go to work, take action as instructed by your mentor.
THE BEST BUSINESS MODEL IN
THE WORLD.
THE WORLD.
If you have read to this point, my fear is that I will lose all credibility with what I am getting ready to share with you.
Please hear me, I understand, and I don’t blame you. I 100% understand why you feel that way. Honestly, I don’t blame you.
Truth be known, I have a real love/hate relationship with this business model.
So I think it may be better to open your mind, and hear it from Robert Kiyosaki instead of me, and when Mr. Kiyosaki is finished I will share some comments.
So I think it may be better to open your mind, and hear it from Robert Kiyosaki instead of me, and when Mr. Kiyosaki is finished I will share some comments.
THE PERFECT BUSINESS
ROBERT KIYOSAKI
I sincerely believe that network marketing is the most mis-understood business model in the world. Not by those outside this niche, but by those INSIDE IT.
The bad publicity the profession has received over the last few years has been for the most part well deserved. But there is a tremendous amount of mis-information in and outside the profession.
RELATED: "How to Deal With Negative Friends & Family Who Hate or ( Don't Understand or Failed) At Network Marketing"
There is the number one opportunity, and only one right now in the market place that can recommend in good conscious, and quite frankly I sincerely believe that this is one of the best, if not the best program I have seen in over 20 years in this profession.
The bad publicity the profession has received over the last few years has been for the most part well deserved. But there is a tremendous amount of mis-information in and outside the profession.
RELATED: "How to Deal With Negative Friends & Family Who Hate or ( Don't Understand or Failed) At Network Marketing"
There is the number one opportunity, and only one right now in the market place that can recommend in good conscious, and quite frankly I sincerely believe that this is one of the best, if not the best program I have seen in over 20 years in this profession.
Network Marketing is a 3-5 year game plan if you have great mentorship, are part of a great company, and you are teachable and have an above average work ethic.
Not to mention you must be involved with the right company at the right TIME in history. If all those things don’t line up it is still a great business model for beginning entrepreneurs to start their entrepreneurial journey.
Not to mention you must be involved with the right company at the right TIME in history. If all those things don’t line up it is still a great business model for beginning entrepreneurs to start their entrepreneurial journey.
The names of big time entrepreneurs who got their start in network marketing goes on and on. The power of network marketing is that if you build it right, and you find the right company you really can develop Legacy income that can be passed down to your children and your grandchildren.
There is no business model in the world that provides the you the opportunity to create time and the money to enjoy it that even comes close to network marketing.
I have a real love/hate relationship with the profession.
It absolutely changed my life, and I will be forever thankful. I love the business model, I despise what it has become.
At the time of this writing, I accept several speaking engagements a month for companies, and sales and marketing organizations.
This month they were both changed to online events. Anyway about 1/2 of them are for direct sales or network marketing organizations.
I am an example of someone who has lived the network marketing dream.
For the right person, there is simply no better business model on the planet.
However all the * stars * must line up
* Right Company at RIGHT TIME in history
* Right Mentorship Team
* You must be Teachable
* You must have and Above Average Work Ethic
* You must understand this a 3-5 year game plan of dedicated focused work.
However all the * stars * must line up
* Right Company at RIGHT TIME in history
* Right Mentorship Team
* You must be Teachable
* You must have and Above Average Work Ethic
* You must understand this a 3-5 year game plan of dedicated focused work.
*At ANY given time there is ONE BEST Network Marketing Opportunity in The Market!
*There are 4 IMPORTANT Factors that you MUST look at.
*If you miss JUST ONE, it could reduce your income by up to 90%!
*What are the 4 Factors you MUST look at & honestly THE ONLY 4 Factors?
*This YouTube Video=> https://youtu.be/k09MQEzc-N8 , will explain them PERFECTLY!
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I hope you have received value, inspiration, or whatever you needed from this article today. I have shared with you:
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