Home Business Tax Savings
Reduce your taxes $300 to $600 per Month starting this week! These tax breaks are authorized by Congress only for owners of Home Based Businesses, published in the IRS code and approved by the federal tax court.
Take things you're 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 and all costs that have to do with your home.
That's like additional income in addition to the money your business generates! The average tax savings range from $3,500 - $7,000 with some people in the higher tax brackets saving over $12,000 per year.
Home business tax advantages are one way you can pay for the startup costs of your business, a new computer, etc.
The tax laws are there to help you! Don't throw your money away because you don't apply the laws. Virtually every small business owner pays too much simply because they don't apply existing tax breaks!
To start with, your business must be based in your home. This means:
- You render the primary value of your business there;
- The administrative functions of running your business are performed there;
- Or on a regular basis you meet with customers and business associates there.
Note: 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, etc.)
Take a look at these forms to see how you can start saving money on your taxes:
- Estimated Business Use of Your Home Tax Deduction Worksheet
- IRS 8829 Business Use of Your Home for Tax Deduction
- Printable Mileage Log for Tax Deduction
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