When preparing for your taxes this year, will you feel frustrated over the limited deductions and increased tax payment? Heres a nice read and as yo read, keep in mind this is what my deductions look like and wonder about the increased returns I enjoy because of them. OK - aside from straight up profit - NOW is a great time to start a business because of the incredible tax benefits! Did you shower today or take a bath? or did you wear mascara or foundation? ****DO you drink a protein shakes or an energy drinks? Do you shower, bathe, brush your teeth, wear cosmetics,shave, wear fragarances..... Well why not buy from yourself and not the department store, Target, Sephora, Bare Essentials, Mac or Walmart? DUH!! Plus enjoy safer products for you to use without harsh chemicals & preservatives! ***** Tax Advantages of a Home-based business, like Arbonne - This is not an Arbonne International tax guide. Always consult your accountant for any and all of these recommendations... TAX ADVANTAGES OF A HOME-BASED BUSINESS! Write off ALL your Arbonne orders because you use personal things to sample out and show DEDUCT your car maintenance (tires, oil change, gas, etc.) or mileage DEDUCT a portion of your car payment Designate a room or partial room in your house for your office – measure it DEDUCT a portion of your utilities, house payment, house insurance, etc. DEDUCT a home remodel if it pertains to a room you use for parties, presentations, team meetings, workshops, seminars, etc. (ie: living room rug, new TV, kitchen remodel. Painting, etc.) DEDUCT all office equipment and supplies DEDUCT anything you use for business – camera, video camera, etc. Designate one credit card for business and use it for everything. Get one that gives you points or Arbonne cc toward products. Write off CPA and legal costs DEDUCT any home improvements in relation to your business DEDUCT any flowers, decorations, Christmas decorations, etc. in relation to your business DEDUCT your house keeper DEDUCT marketing and advertising costs like business cards and tools, webinar or conference services DEDUCT any incentive gifts for your team and clients DEDUCT Christmas gifts for your team and clients DEDUCT family vacations when you talk to someone about the business or products while there DEDUCT training tools DEDUCT photography DEDUCT your website cost DEDUCT medical costs – get your bank to set up an HSA account for you if you don’t have one. Use it for all medical costs and get double deductions – going in and going out DEDUCT your MILEAGE - even if you drop off a bag on your way to the grocery store ...the entire trip counts. MEALS - with a client, teammate, or prospective client. You can claim 50%. How to benefit: Find a good CPA who will be aggressive on tax deductions within the law. You will use the long form with 1099 + reimbursements Keep meticulous records Document everything Use folders or ziplock bags or some sort of organizational system that makes
Posted on: Tue, 03 Dec 2013 17:52:19 +0000
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