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I am a successful entrepreneur that gets to work from home. I am enjoying my sons as they are growing up.
Tax season is over in the US. It can be a time of stress and surprises. The more you make, the more they keep. Do you wish you had a way to be more in control?
There are actually 2 tax codes, one for employees and one for businesses. Guess which one gives you more control?
I am not a tax professional and I can’t offer tax advice so you should take the advice of a tax expert like former IRS lawyer, Sandy Bodkin, author of How To Lower Your Taxes, Big Time.
Employees pay taxes and get to spend what’s left. Business basically get to spend and pay taxes on what’s left.
His first chapter is titled, “Why You Would Be Brain Dead Not To Start A Home Based Business (If You Don’t Already Have One)”. Sandy explains that the average person could save $3,000 or more a year on their taxes by shifting money you are already paying into business expenses. As long as you do business, a lot of things that you wouldn’t have dreamed could be deducted can become business expenses.
Obviously, you need to know what you are doing and documentation is key so your deductions will pass inspection. I advise getting help from a tax professional.
If you don’t know what business to get into, maybe I can show you mine. Go to DiscoverYourOwnFreedom.com and get more information.
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