The most tax advantaged way to do business is to do it from home, even if you already have a good job. A home business can be anything that you are good at, know about, or have something to say about. You can write off travel and entertainment expenses, part of your housing expenses, and legally and ethically boost your income without tax consequence legally and easily if you know how.
What you spend from this years tax returns on doing so, will come off the top when you file taxes next year, before you declare any income. I legally supplement my early retirement income, pay zero taxes on that income, I do not declare enough profit to reduce my early retirement income, and I do my taxes in less than thirty minutes online, without submitting any documentation; and you can do that too.
In my case, it is an online consultancy, and independent journalism (blogging). So, I can work from anywhere, from home, and do this.
To protect your assets, whatever they are, from real estate to income, it is a very good idea to form a separate entity for the business, with it’s own assets, liabilities, and credit rating; usually an LLC, which is a very flexible entity that can be taxed like a corporation or a partnership, can be an investment trust (like an R.E.I.T) or any service business like mine, or even an online store.
If you have a high paying job even, the tax advantages of this can be huge: by offsetting a large portion of you current living expenses against any income that you generate, even if you lose money, which is expected for three years after you start that business.
If you seek advice from accountants and lawyers, they will offset any savings with fees, and are not business people themselves really, very pragmatic, and security minded.
Fortunately, you do not need them to do this, because it is your right.
For many many businesses, all that you need is:
- An Internet connection
- A website
- Online Marketing
- Your time and talent
Any expertise or knowledge of a market that you bring with you from your previous life becomes an asset, even the people that you know become the starting of your audience and market, and often a source of investment capital if it is needed.
In my case for instance (early retired), I can build the business without regard for profit for three years, then, at 66, I can make all that I want on top of my Social Security Income. In the meantime, I can travel, spend, build my business, even take in money, with no tax consequence, and almost no overhead.
In fact, if you spend 1000-1500 to start such a business this year, you can get it all back on next years taxes, even lose money and build ongoing carry forward tax loss, and live better and spend more all year, legally, and ethically.
You can even have help with the website, marketing, branding, advice, and even help raising any needed capital, if any, on this budget. I can provide:
Targeted Advertising – Area or Niche
Are you finding that traditional SEO techniques are futile in competitive industries like travel, hospitality, Real Estate, Law, Medical… because of the competition from lead generators and online malls who charge per click, or per lead?? Over 50% of search now is from a mobile device – they are looking for a clickable telephone number. Having that number that they find be yours is not that hard.
I can create organic rankings for you for any search, without any spam or SEO tricks; without breaking any search engine or social network rules. Initial consultation is free 541-982-9291 – for Bricks and Mortar Retail Stores SMO, Hospitality Industry, Real Estate Industry, Law, Medical, Consulting, Professional Services, Auto-related: Social Media Advertising Agency
A partial listing of my over 20M Audience and groups on Facebook, Linkedin, and Google+ communities and groups where we have influence is here
1. Social Blast Kit
Just $300 puts your exclusive message out and keeps you on top of the world exclusively for what you do where you do it for 365 days.
- Blast to our 20,000,000+ audience
- Larger companies who want broader geographical or niche coverage should request custom quote.
2. Custom WordPress Website
$599.00 Includes marketing, ranking, traffic, and advice! (On your hosting or will setup 4 you)
3. International Investment Banking (Private Placements)
I have done this many times over the last 30+ years.
I go by ‘Israel’
My Linkedin Group
Join our Facebook Groups
Join LA Facebook Group
Join our Vegas Facebook Group
Join our Denver Locals Group
Seattle and even
Texas Hill Country and Washington DC I have over 100 of these that I created and manage on facebook alone…see partial listing here! I have 22M people all over the world who read what I write – see my Pinterest here!’Thought for the day’ is popular.
Original article is here: