A Home-Based Business withTax Benefits

Here’s a home-based business suggestion, along with a summary of tax benefits.

Home businesses have skyrocketed and according to Newsweek Magazine nearly half of American households now do some type of home business. Professional seraphically joining the ranks of independent contractors to be their own boss,earn what they are worth and work their own hours. Perhaps two of the greatest advantages of being an independent contractor and working from home are the ability to earn residual income and the many tax write-offs.

Congress actually provides a bevy of deductions to encourage small businesses and entrepreneurs! I’d highly suggest that you purchase a copy of Turbo Tax or its equivalent so you can prepare and organize your own taxes before visiting your tax professional for the final "tweaks". It’ll save you money and is tax deductible to boot.

Examples of tax deductible items include sales materials, utilities, computer and printing equipment, as well as home office space, Advertising, stationary, envelopes, postage and even cleaning and a babysitter. Business travel,whether by car or other conveyance,is another great deduction. Remember to keep your track of mileage, entertainment and meals. If you have a dedicated ISP, email and phone line, that is deductible, including, three-way calling, call waiting and voice mail. There are literally dozens of additional creative ways to save on taxes that are available to the enterprising home business person. Even if you don’t make money, you can deduct up to $5000 from your taxes, making it a premier tax shelter.

There are many other reasons people choose to operate a home-based business. Having the opportunity to meet new people, earn according to your own efforts and living a lifestyle more suited to your own tastes rank up there with greater flexibility, and in most cases, a very low financial risk. Technological advances, such as the internet and mobile phones, have improved communication, making the home office more practical, particularly for those who would normally spend hours commuting. A disciplined person can get so much more out of their time when they have more time.

Working within your own community is much desired. If you enjoy sales and are looking for a great home-based business, My Zip, Inc. offers a very legitimate opportunity, whereby a person can build viable, long-term residual income by helping local businesses and other worthy organizations in their communities. You provide them with a long-term marketing strategy that they really want and need.

If you have an interest in learning more about this opportunity, please go to www.myziptag.com. You will learn more about our program and see if you qualify. (NOT MLM) You may also email opportunity@myziptag.com and someone will contact you for an interview and answer any questions.

Note: The IRS requires written documentation to qualify for the deductions. Now is the time to start keeping your receipts! Please note that all of the above information is advisory and educational. It may or may not apply to you and your circumstances in any given year. If you have any questions about your specific situation, consult a qualified Tax Professional.