There are many benefits of starting a home based business, but one big one is the tax write offs you can claim.
The benefits of working from home we generally hear are things like make your own hours, no commuting, build a residual income, work around your kid’s schedule, and be your own boss. But being able to save tax is probably one benefit that we often forget to share with people.
Sometimes, people are not interested in working form home because they are happy with what they are currently doing, or being an entrepreneur and getting involved in ‘sales’ does not appeal to them.
But who doesn’t want to save tax?
I mean, seriously, by simply joining a network marketing company with products you like and would be buying from somewhere else anyway, you can legitimately have a whack load of writes offs and pay the tax man much much less at the end of the year. All that has to happen in order to be able to write of your home based business expenses, is for you to be able to prove that you did some business activity on a regular basis (the actual hour amount is just a few hours a week) If you record the times you talked to people about your products, spent time blogging about them, or met someone over lunch and mentioned them, you can turn those activities into a lot of tax savings.
Doesn’t it make sense to redirect around $100 per month on products you would buy anyway, if it means saving thousands per year?
In the big picture of simply paying less of your hard earned money to the government, taking a look at a home based business may be worth your time. Especially if you find a company with products you’d be purchasing any way.