With a Home-Based Business YOU can SLASH your TAXES by $300 to $600 per Month, STARTING THIS PAYDAY!

These are NOT “loopholes,” “tax dodges,” or “tax avoidance schemes.” They’re honest, ethical, legal tax breaks authorized by Congress for owners of Home Based Businesses; Published in the IRS Code and Approved by the Federal Tax Court.
View the income tax form used to claim the deductions from the IRS Website

The Tax Advantages of the
Home-based Business

Like it or not, there are two tax systems in the US; one for employees and a much better one for the business owner. And changes in the tax laws have created a climate that greatly favors the home business. And for procrastinators: the bad news is; they're losing $500-$1000 of THEIR money every month they wait to start their home based business. And that's actual cash in their pockets, not deductions!

That $6,000 - $12,000 in tax money is theirs when they own a home business— even if they don't show a profit!

You're going to learn how to take things you are already paying for and legally turn them into tax deductions— things like heat, electricity, rent, mileage on your automobile, vacations, computers, printers, ink and virtually any costs that have to do with your home.

The best part about the business-owner tax system is that the money can start coming to you NOW, not in April when you do your taxes. The government "gives" you the money to get your business up and running! And you never have to give it back because it's your money! Use it any way you want. And that's in addition to the money your business will generate!

Only business owners can partake of the better tax system and we'll help you get yours established so you can start profiting immediately.

The tax laws are there to help you! Don't throw your money away because you are in the wrong tax system and don't apply the laws. Virtually every small business owner pays too much in taxes simply because they don't know the laws.

If you don't have a home business... or if you do and don't take advantage of these laws... envision yourself getting up every morning and flushing a brand new 20-dollar bill down the toilet, because that's what you're doing!

So let's see how to get you into the better tax system-- the one that's less taxing:

These are MAJOR Tax Advantages
When the average entrepreneur understands what these tax breaks are, how easy it is to qualify for them, and how simple the record keeping is, the new deductions will usually slash their taxes dramatically, sometimes up to 50 percent or more. That means thousands of dollars in tax savings year after year, for as long as the business is actively run with a profit intent. Average tax savings range from $3,500 - $7,000 with some people in the higher tax brackets saving over $12,000 per year.

This is how you can get Uncle Sam to pay for the startup costs of your business, a new computer, etc. What really gets me is when people ask, "How much does it cost to get started?" But they don't think about the $3,500- $7,000 they are losing each and every year they wait before getting started!

And you don't wait to get this money! If you currently have a job and have taxes withheld from your paycheck, you will notice a $70 to $200 increase in your paycheck each week... just because you start a home based business and intend to make a profit! This is the tax law regarding home based businesses!

Here's how to QUALIFY For them
The IRS is very specific about the requirements for qualifying for small/home based business deductions. The most important are that you run your business with the intent to make a profit, (Note: Look closely at the wording. You don't have to make a profit to take the deductions, just be working toward making a profit) and secondly, work your business on a regular and consistent basis (I.E., an hour a day, four or five days a week.)

Convert Money You're Already Spending into Tax Deductible Business Expenses
If you use a portion of your home "exclusively and regularly" for business purposes, then a portion of your personal overhead expenses become deductible in proportion to the business-use vs. personal-use of total space. Overhead expenses include mortgage or rent costs (yes, RENT can be deductible), heating, air conditioning, electricity, natural gas, oil, water, sewer, trash collection, house cleaning, exterior painting, security alarms, and more-- Things you are already paying for whether you have a business in your home or not!

How can that put cash in my pocket?
You're giving yourself a pay raise! These are expenses you're already paying for, but without a home business you are paying for them in after-tax dollars. So what does that mean?

Just say your total home expenses are $1000 per month, and say various taxes are eating up 40% of your gross pay (and that's conservative!), you'd have to earn almost $1700 in wages in order to have $1000 after-tax left to cover expenses such as these.

But when 20% of your home is qualified as "business use" for example, then $200 of that $1000 could be paid for dollar-for-dollar, which would earn you about $150 per month. That's not theory, that's $150/mo. extra cash in your pocket! That's just one item and that's every single month, and that's before your business even makes one cent profit, and before you have one customer!

Additionally, all the costs of starting the business-- promotional materials, product samples, meeting attendance, internet access fees, cellular phones, fax lines, Palm Pilots, leads list, web site hosting fees, 800-numbers, printing costs, briefcases, business cards, home office furnishings, computers, printers, etc. -- all 100% deductible if they are used 100% for business. The rule of thumb is this: virtually any expense you would not have incurred if you didn't have a business is deductible.

Never pay for gasoline again!
The law regarding the business use of your vehicle can save you thousands of dollars a year in taxes--only if you have a home-based business! For example, the law states that you will receive a forty and a half cent deduction for every mile you drive that's business use. So if you get twenty miles per gallon, you get $8.10 of tax deductions for every gallon of gas you buy. And as the gas prices go up so do your allowances. You will never pay for gas again!

 

Vacations can be deductible?
Well, not exactly. But if you know the rules, you can combine business with pleasure and deduct:

• 100% of your travel costs,
• 100% of hotel charges,
• 100% of ground transportation,
• 100% of tips and gratuities,
• and 50% of your meals -- all as Business Expenses.

This is true even if most of your time is spent 'playing' and sight-seeing with your family! The Rule: More than half of your days away have to count as "business days." So, what's a "Business Day?" Travel days usually count as business days (that's 2 days per trip, right there!) days attending pre-scheduled meetings (no matter how short the meeting lasts!) count, weekends sandwiched between business days count for business, 4 hours per day at a seminar count as a business day. See what advance planning can do?

Even my children's allowance?
If you have a child (or children) at least 7 years old and under 18, and employ him/her in your home-based business, (a) they are not subject to child labor laws, (b) no payroll withholding is required, (c) the cost is 100% deductible as a business expense, and (d) the income is 100% tax-free to the child!

How can ALL medical costs be business deductions?
The average taxpayer can deduct only medical expenses exceeding 7.5% of their adjusted gross income. So most taxpayers can't deduct anything. Except the small business owner! If you're married and employ your spouse in your business, you can give your spouse as an Employee Benefit reimbursement for all health related costs not covered under any other insurance plan -- for the spouse/employee and his/her immediate family, which includes you and your children! That covers deductibles, co-pays, non-covered expenses, and even non-prescription drugs.

Here's the 'Bottom Line'

To Qualify for these Tax Deductions, you must:

1. Demonstrate that you intend to make a Profit
2. Work your business on a Regular and Consistent basis.
3. Run your small business like any other 'real' business.
4. Record all of your Income, Expenses, and Business Activity.

All the requirements are detailed in the book referenced below.
This book comes from an outside vender and is not a part of LifesMiracle or LMSuccess

Click on the book for more information and go to the"Products & Services" tab.You can also purchase
Tri-fold NWM Tax Advantage Brochures there to give out when you give out samples!

The tax deductions summarized here are 100% legal and ethical, but you must keep very specific records in order to audit-proof your tax return. When you understand small-business tax law (which this book shows you) you can claim up to thousands in new tax deductions. "Home Business Tax Savings Made Easy", is a step-by-step, easy-to-use guide that walks you through each deduction, the requirements for qualifying, and the records you'll need to keep. The book documents the Congressional Law, the IRS Regulation, or the Tax Court Ruling authorizing each one. This is MUST HAVE if you're serious about reducing your taxes to the legal minimum.

Of course, the purchase is tax-deductible!

Next tour stop: Business Action Plan>