Essential Tax Deductions For Home Business Owners That Keep More Pay And Reduce Taxes
Just heard that one of our business colleagues are getting a $15,000.00 refund in their taxes this year!
In the United States, it really is important to properly categorize your business deductions.
We also save thousands every year in taxes because of our business and our deductions.
Read this now and make sure you are making these essential tax deductions in your business.
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Rent
If you work from home, what percentage of your home is dedicated to your business?
Do you store merchandise?
Do you have an office space?
Where do you do your webinars?
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Internet, Telephone, Utilities like Electricity, Water and Gas
If you have an internet business then what percentage of your internet is used in your business?
Do you need a telephone in your business, what percentage of your phone use is for your business?
What about the utilities you pay to keep your house with power and so on?
All of these are valuable deductions.
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Office Expenses and Equipment Expenses
Did you buy pens, paper, post it notes.
These are OFFICE EXPENSES.
Did you buy a new computer, a printer, a speaker.
These are EQUIPMENT EXPENSES.
Claim the Office expenses and Equipment expenses for your business.
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Travel Costs
Did you travel for a seminar?
Claim your Lodging expenses.
Claim your auto rental expenses.
Claim your airfare.
Claim your travel meals.
Claim other travel expenses.
Back in 2011 I had over $30,000 in credit card and line of credit debt, was living paycheck to paycheck and was stressed out over my lack of success in my financial life.
In April of 2016, I became debt free and had a monthly passive income stream. I quit my job on December 23, 2016, and started doing my dream work of mentoring others on what I did to create the freedom to quit my job.
In 2017 we bought our first condo in Waikiki, and we went on 5 weeks of vacation (including a 7 day cruise to the Mexican Riviera)!!!
I spend most of my time doing what I dreamed of for years, spending my days with my son Jordan and my husband Jomel, enjoying motherhood and being a wife. I also enjoy researching Financial Freedom and sharing what I learn with my clients and on my blog.
If you want to learn more about how I can help take back control of your money and your time, then CLICK HERE, watch the free video and get started!