Did you know there are only 3 requirements by the U.S. Government in order to establish that you have a home base business?
1. You show a profit 'intent' (even though you may not show a profit yet).
2. You work your business on a regular and consistent basis (even 3-4 hours per week).
3. You keep good records (just like a big, full-time business).
These 3 requirements in themselves let you qualify for additional tax refunds.
There are 2 types of taxpayers - the employee and the business owner. The latter earns revenue on selling goods or services, spends what is needed to keep the business financially solid, and pays taxes on what is left over. Whereas the employee works hard for his wages, has a large chunk taken out for taxes, and lives on the balance called take-home-pay.
Which category would you rather be in? The business owner has so many things he can get a tax break on, and that includes the owner who is doing an Internet eCommerce business. A few of those tax breaks can include:
- Internet access fees
- Ink and toner cartridges for printers
- Spyware and Antivirus subscription services
- Surge-protection equipment
- Conference call services
- Have to show a profit 3 out of 5 years - False
- Can only write off a room with equipment & furniture if exclusively for business -False
CUT YOUR TAXES by up to 50% or more! You can get free details at:
DID YOU KNOW...
Congress has told the IRS to give Huge Refunds and Deductions to taxpayers like us who have a home-based business, OR anyone who operated one at any time in the past three years?
It's true! If you had a home-business in any of the past 3 years, following these simple step-by-step instructions, you can easily file an Amended Tax Return (Form 1040X), and get
a Refund Check for THOUSANDS of DOLLARS...PLUS interest!
Good luck with your business,
Linda Dougherty, Author