Want some helpful small business tax advice? Did you know that your Uncle Sam will actually pay you to start a home based business? That’s right, Congress has approved over 100 tax benefits that are available ONLY to home based business owners. These deductions, found in the Federal Tax Code, are 100% legal and 100% audit proof.Before we look at a few of these deductions and how much money this small business tax advice can put in your pocket, let’s look at how much is actually left out of your paycheck. While you know it is not as much as you would like, do you realize how much of your income goes to taxes? When you add up federal, state, country, gas, property, social security, unemployment, etc. the total comes to about 45%. By the time you pay your monthly housing, healthcare, food and transportation costs, you are left with about 20% to pay all others expenses and to enjoy life.Not a pretty picture. Fortunately, you can change that picture with a home based business. I can hear you saying; “I don’t have time for a home business I barely have time for my family and friends now.” And besides, you’re thinking, I certainly don’t have the time or desire to go to meetings or presentations to learn how to start-up and run a home based business. Probably, at one time or another you and your friends have discussed small business ideas that you might pursue.Now’s the time to stop talking and to take action to change your future. Are you on Facebook? Do you have a Twitter account? Do you use Youtube? Ever considered starting a Blog? If you answered yes to one or more of those questions I can show you how to turn these tools into a home business.Aside from the money you will make with a home based business, here are 5 significant tax breaks that can put $300-$500/month in your pocket.1. Home Office Deduction (Renters too; includes a percentage for utilities, maintenance, ins.)2. Business Use of Personal Vehicle ($1 for every 2 miles plus more)3. Hire your children (even as young as 6; big tax savings)4. Healthcare Costs (100% of out-of-pocket costs)5. Business Travel & EntertainmentMore good small business tax advice, there are only two qualifiers to be able to take advantages of the above deductions as well as over 100 others. Here’s what they are:1. Operate your business on a regular and consistent basis (the tax courts have defined this as 3-4 hours a week)2. Have an intent to make a profit.More good news; you can start your home business part-time while you continue with your present position. The Internet has changed the way we communicate, buy things and it can change the way you make the money you need to live the lifestyle you want.To learn more about the tax savings available to home based business owners, click on Resources on the right hand side of the page and watch the 5 minute video by Dr. Ron Mueller, Home Business Tax Law Expert. And, of course, contact me so I can give you further details.By the way, does saving $5,000 a year or more on your taxes appeal to you?How to Save on your Tax with a Home Based Business
Best Home Based Business Ideas – 6 Key Factors When Looking For the Best Home Based Business Ideas
There are certain crucial factors that set apart some home based business ideas from others. When you are searching for the right opportunity all the information can all become a blur and it can be difficult to define what makes one opportunity stand out from the next.Here are 6 key factors that will help to put you in a significantly stronger position to take advantage of leverage and make money much faster.1). How Much Does it Cost?Obviously spending less sounds great but you probably know that the more expensive opportunities usually offer the bigger financial rewards… or do they? Keep your eyes peeled because this is not always the case. Home based business ideas with low entry costs can still offer very lucrative rewards and these are by far your best value investment.2). How much Can I Realistically Make?Some opportunities require you to pass up commissions which can mean less income. Other Companies are more geared to rewarding their representatives as they know that enthusiasm in their sales team will ultimately bring them the financial gain also. Look for the Companies that are paying their reps generously.3). How Quickly Can I Expect To Make Money?This will also depend on the structure of the Compensation Plan so look carefully at this. Sometimes what look like the best home based business ideas really only suit the top marketers, and the average marketers and newbies get left behind wondering what happened (or what didn’t happen!)Simple opportunities can get your home business off the ground and start paying you early in the game.4). What are the Risks?Whatever you spend, you’ll want to weigh up the likelihood of your success. Meaning, what you stand to lose verses what you will gain.Is it costing you a lot of money upfront before you have established if the business will work for you?5). How Many People Will I Need to Recruit to Make Money?Some of the best home based business ideas are with network marketing companies and require you to build a team, which means recruiting. So, how well you do in the business will depend on how many people you sponsor.Look at how many people you will need to sponsor before you start making the money you desire. Is this realistic for you to achieve now?6). How Complex is the Home Business System?I always feel that simple is best, as long as there is a good income opportunity. If you are trying to get new members to join and you are dealing with one of the more complex home based business ideas, it is more likely you’ll lose people’s interest before you can even go over all the information with them. If there are lots of products and intricate payment plans it can be harder on you to get others involved.When searching for the right opportunity use these as some of your criteria to help you separate the most simple and powerful earning opportunities, from some of the more complex ones. Look for compensation plans that are generous upfront, and once you start earning good money, your confidence will grow, and you can expand your marketing skills. Choosing the best home based business ideas will get you earning a full time income the most quickly. And don’t forget the most important skill you will need — Internet marketing.
A Simple Product Creation and Product Launching Formula
If you tried to think of people involved in product creation, who would come to mind? You may think of Edison, Franklin, or maybe Henry Ford. Would you ever think of yourself as someone who can create a quality product? Product creation is actually relatively easy and product launching is not that tough either! If you follow a few easy to understand steps, you could be starting the product creation and product launching process sooner than you think.
The first step in creating your information product is to know and understand your market. This can be very time-consuming, especially if you are unsure of what to do or where to look to know your market. Studying your niche market and understanding the buzz words and buying patterns can ease the process dramatically. Personally, I would recommend networking with someone who has had success in the niche market you are considering and learn from their results. If they are into product creation and not very business savvy expect some hesitation. If they only sell products and have nothing to do with product launching or product creation you may your first affiliate (sales person)! Something else you can use to find hot trends is with the Google Trends tool.
The second step is the product creation process. Take your niche market and brainstorm ideas and topics relating to it. There are a lot of product launching contests going on recently relating to a newly created internet marketing tool. There are so many aspects to the mentioned niche that literally, and unfortunately, anything can be considered an Internet Marketing tool. The reason that anyone can basically create an Internet Marketing tool is because of something called Private Label Rights products.
What I use private label rights products for, and highly recommend them in this specific manner, is to cure writer’s block especially when it is lingering. Many people base their entire product creation and product launching on a private label rights product. This is where you can start to shine and build a strong brand for yourself. If you set goals for yourself, short-term goals to be exact, you can see your product creation come into being much faster and there is a good chance with less revision needed. If you keep hitting time restraint road blocks; however there is nothing wrong with a slow and steady approach, you can consider outsourcing portions of your project. Outsourcing can be an extremely huge benefit or just as great of a disaster.
You can find someone to outsource work to at a freelance site such as Guru.com or eLance.com. When reviewing proposals it is almost mandatory you perform a background check on them as you are in essence hiring them. Doing a background check on freelancers is as easy as asking for samples of their work and reviewing feedback on the freelance site from previous customers. Depending on the size and requirements of your project this can add up to a decent sized investment, so caution is very important. One tip I always recommend to people looking to hire an individual is to ask them what they can provide you that no one else can. This simple question gives them a chance to “toot their own horn” and acknowledge where they feel most competent as far as their skill set.
The final portion of the product creation and product launching formula is the launch. This can literally make or break the effort, time, and maybe (if you invested) money you put in to your project. There are numerous aspects to product launching and although their relevance is debated in terms to their effect, experts agree all must be followed. The person in your field who you asked for product advice from can help you substantially if you have kept in touch. If not, the first thing you need to do is to create a visually appealing website with flawless design work.
I also mentioned outsourcing before, this is one aspect of product launching I have little strength in and I always outsource this portion. The website does not have to be large however the content (ad copy in Internet Marketing) must be stellar and as perfect as possible. This is where advertising knowledge or experience is beneficial. When the site is set up you now put a lead capture form on your website.
I put two lead capture pages on all products I create on the internet and is one of the best methods of getting a solid start when you are in the product launching stage. When you gain information from a prospect or someone looking to get paid for referring sales you are able to provide them updates or specials. Many people abuse their prospect or affiliate lists by in turn emailing them with a new product daily and I find the recommendations to be totally unrelated to their original need, problem, or interest.
Another stage in the product launching stage is creating a free report or demo version of your product to entice the product to sign up to your email list. Using proper follow up with this can help generate numerous sales for you. One thing you need to ensure is that your free product completely relates to your main product that you are looking to sell.
You are now ready to advertise your product launching to customers as well as the opportunity to sell for affiliates. This is the single aspect that many product creations and launches fail on. It is actually not entirely difficult. One thing you can do is write articles (and a good amount of them) on topics relating to your product. I am a huge advocate of giving a solution in forums. When you join a forum you are normally offered the opportunity to create a signature. In your signature, you should enter the link to your opt-in or lead capture page. When you respond to posts, you are advertising your opportunity.
It is not impossible to create a product and it does not have to take a long time. You need to setup a plan and stick to it. If you get stuck, look at similar and successful products to your own and try and see how they did it. When you sit down and brainstorm you will be surprised with what you can imagine.