Pay fewer taxes in 2017
Here is a way you could be saving on your taxes!
Do you know you could be saving on taxes, be your own boss, working toward time freedom and a better lifestyle?
When you start and work at a home based business, you not only have a Plan B income, but you can deduct many of your home business expenses.
Everyone needs to check with a tax person that is familiar with home based business tax savings. Also, each business person ends up deducting different amounts depending on how they run their business.
But, it is possible to save enough to pay for your business expenses from the money you save in taxes. Furthermore, with a Health & Wellness Company, you get the extra benefit of getting healthy for free. So, basically, little risk even if you don’t make a large commission cheque when you first start learning the business. It is not necessary that you make a big profit your first couple of years. But, you do need to show your effort to succeed and keep good records of all of your expenses and claims.
Don’t like to sell, you say! Well, we all do network marketing daily anyway, so might as well get a referral cheque for recommending an awesome product and business that anyone can do and benefit from! Do you recommend movies, car mechanics, or restaurants? That is network marketing. You are suggesting something that you like and it feels good if someone takes your advice. That is part of the human condition. So why not recommend something that can help benefit your future and the future of your family. Plus get a cheque for it!
Our subconscious minds are making decisions for us before we even hear the opportunity. So, people are missing out on something that could improve their lifestyle. But some open-minded people are taking 20 minutes or so to listen and learn that network marketing is about helping each other. Many are getting out of the rat race for a more fulfilling profession in the trillion dollar health and wellness business. You aren’t competing you are working together as a team to succeed. Give more, get more!
Here are some of the deductions you can make.
- the cost of your startup kit
- a portion of your house you set aside for business
- telephone and internet costs
- equipment costs including computers, printers, paper and ink cartridges, etc.
- a portion of auto expenses
- some expenses regarding conventions, meetings, presentations
- advertising and marketing materials
- entertaining clients with meals etc.
- accounting fee
This video by Sandy Botkin has great information regarding Amercian tax savings and
Canadian are very much the same.
If you would like to know more, please contact me.