Did you know that December is the best month to invest in a home based business? The reason behind this is, that all the inventory and expenses you spend towards a home based business are a direct write-off against your taxes. So working just a few hours a week can save you a significant amount on your taxes.
Lets say you start or join a product driven company. You can write off all products and personal care items purchased throughout the year to start this company. That means all hair care products, cosmetics, weight loss, etc. You can basically buy all your health care and house hold products from yourself, and write them off your taxes as well. This creatively helps you turn your personal expenses into business expenses.
There are many product driven companies out there to become part of that can do this for you. Take your pick! They are almost always network marketing companies, which allow you to get started without a ton of overhead and stocking of product.
An alternative to the product driven companies are now becoming available in the network marketing world. There is a coin collection company where you buy silver and gold coins monthly, and get residual income from people you tell that sign up. No product to sell. You get a coin collection which has value and benefit from telling other people. It seems to work well in this economy because of the deflated dollar and the rise in gold and silver.
Travel companies have now joined the network marketing world. Here you pay a monthly fee, and have access to some of the best travel deals available. All you do is tell people you know about it and if they like it and sign up you get credit and make a commission from it. A very interesting opportunity if you think about it; stay at the best resorts in the world and get paid for it. Sounds good to me.
The bottom line is that a home based business can save you a substantial amount on your taxes, and have the freedom to work from home.
Some of the tax benefits from a home based business write-offs are as follows: A portion of your rent or mortgage; a portion of your utilities and insurance; your internet service; your cell phone; all of your home office supplies (computer, printers, etc); all of your medical and dental for you entire family; up to 3 cars; costs of vacations if you combine with business, especially if you are part of the travel MLM business!!
This is a great month to start a home based business!!
