| "Why do people start a home business?" | | | | And many network marketing companies and |
| Isn't the core reason to 'TRANSFORM their life'? To | | | | marketers promote the tax savings benefits, but the |
| live the dream lifestyle? | | | | reality is that most network marketers are not |
| To earn more money... To take more vacations... | | | | actively APPLYING these principles because they are |
| To pay off debts... To quit their job... | | | | unsure how to document properly, so they don't |
| To build college and retirement funds... | | | | want to chance getting audited by the IRS. |
| To retire early and live off of residual income... | | | | The key to potentially saving thousands to tens of |
| To have more time to spend with family and friends. | | | | thousands of dollar every year on your taxes, and |
| All of those things would transform your life and all | | | | being AUDIT-PROOF is to document properly. |
| of those things revolve around MONEY, which makes | | | | Being audit-proof doesn't mean that you won't get |
| possible the enjoyment of the best the earth | | | | audited, it means that if you are, you will walk into |
| affords. | | | | the meeting with your home business tax deduction |
| Let me share my definition of WEALTH... | | | | log book that properly documents all of your |
| "You're wealthy when the RESIDUAL INCOME from | | | | expenses. |
| your business(es) and investments pays for your | | | | Do you think an IRS agent would rather spend their |
| dream lifestyle, without you having to work" | | | | time reading through your well-documented expense |
| You may continue to build your business because | | | | log book? Or would their time be better spent with |
| you're passionate about helping others, but you don't | | | | people who walk in with a box of receipts and no |
| need to work to pay your monthly bills. In the book | | | | organized documentation? Odds are that they will |
| Rich Dad Poor Dad, Robert Kiyosaki teaches how to | | | | most likely go after the disorganized person, because |
| create wealth by building a business to LEVERAGE | | | | they know that they have a better chance of |
| other peoples time and efforts. Hopefully you're doing | | | | proving that they owe the IRS money. |
| that with your home business by building a marketing | | | | To summarize, as a home business owner, you want |
| team to generate business sales volume, which | | | | to focus on learning how to reduce your taxes, and |
| creates residual income. | | | | then apply that extra cash flow to a debt elimination |
| So why don't more home business owners become | | | | plan. Then you will have stories to share with future |
| wealthy? | | | | prospects about your financial strategies and |
| To build wealth, you need to reduce your taxes to | | | | achievements. How powerful is it to share that your |
| the legal minimum, and eliminate all consumer | | | | home business has saved you thousands on your |
| debt.You need to learn the basic home business tax | | | | taxes? |
| deductions, which can save you thousands to tens of | | | | How powerful is it to share that you've paid off |
| thousands of dollars every year. | | | | several credit cards in the past two months? People |
| As a home business owner in the U.S., you may be | | | | pay attention to those things and they will want to |
| able to deduct your home office expenses, travel | | | | know how you did it. More importantly, you will move |
| expenses, entertainment expenses, meal expenses | | | | towards having financial freedom, which can give you |
| and many other home business deductions. | | | | time freedom, so that you are truly wealthy. |