TAX
SAVINGS
WITH A HOME BASED BUSINESS
| How you earn your
income |
Employee
|
Business Owner
|
| Amount you earn
each week |
$650 |
$650 |
| Weekly Taxes
(Social Security-Income taxes) |
-$200 |
-$100 |
| Weekly Take home
pay |
$450 |
$550 |
| Tax advantage
requirements |
None |
Try
to make a profit
Deduct Expenses |
|
What's wrong with this picture? |
Your initial tax savings is over $300 a month
You can't afford
not to have this business
-
Advertising - Examples: business cards, notes, flyers, catalogs, signs etc
-
Lunches - Have lunch with people you can promote your
business with - document it
-
Vacations - Take family with you and promote your business, it's tax deductible
- document it
Just the above will increase you monthly income $300-$400 a
month.
The average family loses around 30% of your income through
income and SS taxes.
If the following are tax deductible business expenses. You
can keep more of your own money.
| Sample of Deductible
Expenses |
Monthly Value based on
30% to taxes |
Tax Savings
|
| 1,500 miles (40.5 cents per mile |
$607 |
$182 |
| Eat Lunch out ($100 X 50%) |
50 |
15 |
| Medical Costs ( Doctor, premiums, etc |
300 |
90 |
| Home/Office Utilities ($300 X 10%) |
30 |
9 |
| Telephone (With unlimited long distance) |
60 |
18 |
| Cell Phone |
60 |
18 |
| Computer ($1800/24 monthly payments |
75 |
23 |
| Internet Access (Broadband) |
50 |
15 |
| To receive just have your accountant set it up |
$1232 |
$300-$400 |
|
Can you afford to keep giving
away around $3,600 - $5,000 a year?
For only a $9.95 investment, you can't afford
not to become a URI Member!
This is immediate
income before you start selling products or signing up new Members
The
above information is not intended to be legal, accounting,
tax or other professional advice. Questions regarding your
personal tax circumstance should be directed to a qualified
tax professional. |
|
