7 reasons to start your home based business

If you ever thought of owning your own business, here are some great reasons to start right now! You were probaly worrying about whether you would lose money or not, right? Well, forget that nonsense today. Consider these reasons:

1. Employ your kids within your business and you can pay them tax free! That's tax free to them and to you too. How much? $4,400 per year.

2. If you drive your vehicle to do business, you can deduct part of the expenses. As long as you conduct some business before the trip and along the route, to and from your destination. This is easy for us Network Marketers, MLMer's and Home Based Business folks.
How much? (as of 2005) 40.5 cents per mile

3. All telecommunications expenses (except for residential service) such as long distance, call waiting, call forwarding, 3-way calling, internet, pagers cellular phones etc. can be deducted 100% if they are business related.

4. Travel expenses could be deductible for the entire family by properly structuring and planning your travel itinerary around business activities.

5. You can employ your spouse and supply them with a 100% Medical Reimbursement Plan as an employee benefit. This would make 100% of all your medical, dental and optical expenses such as premiums or partial premiums, deductibles, co pays, prescriptions, teeth maintenance and repair, braces, contacts, eyeglasses, etc. (for your spouse that is employed and their entire family, which includes you the business owner!

6. Deduct the business use portion (%) of all expenses associated with your house and or apartment such as mortgage or rent, utilities, improvements and or repairs, insurance, real estate taxes, security systems, lawn care, etc.

7. Deduct 50% of all entertainment and meals when in the activity of conducting or discussing business.

Hey, these are just a FEW of the many tax deductions available to you in a Sole Proprietor home based business. Of course, you need to visit a tax professional to get the details on each of these deductions.

There you have it! Are you still debating whether you should start your own business? I just made it a little easier for you.

Thank you again for reading. Don't forget to consider the great opportunities at my website too.