Reduce Your Taxes With A Home-Based Business

Owning your own business provided numerous opportunities to reduce your taxes by transferring personal expenses to tax deductible business expenses. Personal expenses such as rent or mortgage, costs related to your automobile, travel, entertainment, gifts, furniture, computers, and many more, can become full or partial business deductions.

The IRS has very specific rules and regulations for home-based business deductions that you must follow. One way to legally comply with all of these rules and regulations is to have extensive record-keeping throughout the entire year.

To help get you started, here are a few reasons to have a home-based business and help reduce your taxes with tax tracking:

    -Work at home and deduct portions of mortgage or rent, utilities, furniture, supplies, etc.

    -Use your automobile for your business and get the IRS to help you pay for it
    -Put your kids to work and pay them TAX FREE
    -Deduct medical, dental, and insurance costs
    -Get smarter for FREE by deducting business-related education expenses
    -Take a vacation on the IRS
    -Have lunch or dinner with a client for 50% OFF
    -Set up TAX DEFERRED retirement accounts for you and your family
    -And many, many more...

Avoiding unnecessary taxes is the obligation of every business owner. The IRS is "happy" to give you all the deductions your are legally entitled to through your business. Just remember, avoiding taxes is legal...evading taxes is not!

TAX BENEFITS

"I just filled out my income tax forms. Who says you can't get killed by a blank?" - Milton Berle

If you've been trying to dodge tax bullets, New Vision and or Matol is eager to come to your rescue.  The way to tax-proof your Form 1040 is simple and perfectly legal.  Just upgrade to Member and actively begin building your New Vision / Matol  business.  The minute you do, you'll be the proud possessor of the ultimate tax shelter -- a home-based business.  And that will let you can tap into a bonanza of tax write-offs.

Forget all those exotic tax schemes you've read about, but couldn't afford!  Most of those are designed to create a tax loss by losing money for someone rich enough to throw their money away.  Pretty loony, if you think about it.

"There may be liberty and justice for all, but there are tax breaks only for some." -- Martin A. Sullivan

You can be among the lucky few that the tax law favors.  Join New Vision and or Matol, and you will discover what so many entrepreneurs already know.  A home-based business is all the tax shelter you'll ever need.

The tax law will reward you for trying to make money.  It doesn't matter whether you are General Motors or a lone individual working out of a home office.  When you are in business for yourself, the government lavishes you with tax breaks.

"The first 9 pages of the Internal Revenue Code define income; the remaining 1,100 pages spin the web of exceptions and preferences." -- Warren G. Magnuson

AS a New Vision / Matol Member, a lot of the tax code's exceptions and preferences will be yours to profitably enjoy.  So long as you are actively building your New Vision / Matol business, you can convert many of your previously nondeductible personal expenses into deductible business expenses.  Almost anything you spend money on, once you are self-employed, can be tax-deductible, if you plan carefully and keep detailed records.

What tax treats does a home-based business legally offer?  How about the chance to write off trips to resort destinations, such as Las Vegas, Scottsdale, even Australia, so long as your main reason for traveling is business?  Or having Uncle Sam pick up part of the tab for trying to boost your sales by wining and dining customers, business associates, or prospective customers and associates?

"It's not what you make, it's what you keep." - Anonymous

As a New Vision / Matol Member, you can keep a lot more of your hard-earned income.  Take that weekly allowance you give your child.  Not a bit deductible.  But pay your child a reasonable salary for genuine work required in your home-based business, and you've got a write-off any parent could love.

There's more!  Think about all those home expenses you will get no tax benefit from - unless you start working out of an office in your home.  Your New Vision/ Matol business lets you deduct a portion of such otherwise nondeductible expenses, such as your rent, home insurance, utilities, cleaning service, home repairs, and homeowner association dues.  That's in addition to the mortgage interest and property taxes you can already claim if you itemize your deductions.

"You must pay taxes. But there's no law that says you gotta leave a tip." - Morgan Stanley (Advertisement)

Stop tipping Uncle Sam.  Sign up as a Member of New Vision and / or Matol you can turn the high, high cost of gas, car repairs, car insurance, lease payments, and other auto expenses into gigantic tax savings.  As an employee, all those minutes you spend idling in traffic jams on the way to a job won't earn you a dime in tax savings.  But, you can change all that if you start working out of your home and make business stops on the way to the office. 

"Today is the first day of the rest of your taxable year." - Jeffery L. Yablon

What you do today could impact your taxes for the entire year and many years to come.  Become a New Vision/VEMMA Member, and change your tax life for the better right away. 


DISCLAIMER:
this is NOT advice on any personal income tax requirements or issues. Use of this site or any information from this site or any other website referred to is for general information only and does not represent personal tax advice either express or implied. You are encouraged to seek professional tax advice for personal income tax questions and assistance.