Friday, December 3, 2010

Why a "Home Based Business"? | The Truth About a "Home Based Business"

Why have a home based business? The real truth about having a home based business lies in the fact of additional income, time freedom and the many tax benefits. Having a home based business has many advantages and with the current economical situation there are more and more people looking into the advantages. Not to mention the additional income stream and powerful tax advantages.

The home based business gives you extra money directly. Indirectly it will give you extra tax benefits. Once you got the confidence that the par- time business is good, you can leave the regular job. The only need is we need to come out from the time frame that I will work only for a certain time. You need to use your extra time more productively to get the success.

You need to have a vision to get the success. Many times your hobbies and activities can help you in starting the new business. If that talent is used properly, you can make money.

Tax Savings You Can Count On

IRS PUTS ON PRESSURE FOR EVERYONE TO E-FILE. Starting Jan. 1, 2011, any tax preparer who files 100 or more tax returns must file their client' returns electronically. As of 2012, the minimum number to require e-filing drops to only 11!

What’s the problem with that?

There are a lot of advantages to the IRS if you e-file, but, according to Ron Mueller, MBA, Ph.D. - author of "Home Business Tax Savings, Made Easy!" and myself, I have not found even one worthwhile advantage to YOU.  In fact it is far better to file an paper return!!! Get free Special Report, “Why You May NOT Want to E-File,” in the ‘Resource Center’ at

   www.HomeBusiniessTaxsavings.com

But YOU Still are in Control – SO FAR!

You haven’t lost ALL of your rights – yet! If the taxpayer/client (that’s you and me) specifically requests to file a paper return, your tax pro is allowed to prepare it in paper format, BUT there are three minor hurdles…

1. Your tax pro must fill out a Form 8948,
     “Preparer Explanation for Not Filing
     Electronically,” and attach it to your tax
     return.  (No big deal.)

2.  You must actually take your own tax
     return to the Post Office or overnight
     delivery service.  Your tax pro is not
     allowed to mail it for you. (Still no big deal.)

3.  You’ll be required to sign a statement that
     confirms this is your wish. It won’t be sent
     with your return, but kept by your tax pro.
     (You may be familiar with the term “CYA.”)
     Another "no big deal."

Just speed-bumps, not hurdles, yet they are there only so the IRS can make it inconvenient to not e-file.

Big Brother continues to tighten his grip, so grab onto and take advantage of those home-business tax advantages.  It is one of the few rights we have to control the amount of taxes you pay.


More “Tax Tips You Can Bank On” will be streaming in as the lame-duck  session of Congress make decisions that will impact your financial health – big time!

Go out and make it a great day and to your success!

Lloyd Dobson

P.S.
Lloyd Dobson is an expert trainer on how to utilize proper online marketing techniques and strategies that can help you with ANY online business. Learn exactly how to generate more leads without cold calling, buying expensive leads or chasing your friends by clicking this link: MY FREE MARKETING SYSTEM SECRETS at http://LloydDobson.com

7 comments:

Anonymous said...

Hi Lloyd, Great post and as usual great content on your Blog. Keep the info coming it is worth it's weight in Gold. Have a great day. Paul

DrEricaG said...

Lloyd
Valuable information about filing taxes. I prefer paper copies myself, where I can clarify and categorize all my deductions.

Jorge Vazquez said...

Hi Lloyd,

Excellent article! This will be very helpful for those who have home based business.

Eddie Espiritu said...

Great points about why a home business is so advantageous Lloyd and great tax tips as well!

Beth Allen said...

Great information here, Lloyd. I think every single person should have a home business JUST for the tax benefits! Of course, you have to know what they are, and there are SO many that I think most home based business owners don't even know about. Sandy Botkin is another really fabulous resource, and his book Lower Your Taxes - Big Time.

Thanks for spreading the good word! :)

Debbie said...

Thanks for the great tax tips. I didn't realize there were advantages to paper filing. I'll have to share that with my tax accountant.

Debbie said...

Thanks for the great tax tip. I didn't realize there were advantages to filing a paper return. I'll have to share that with my tax accountant. (Although I don't think he files more than 100 returns)