Home Business Tax Benefits
Crisis? There is no crisis in the Home Business Industry, to the contrary. In fact Home Business Tax Benefits can help to compensate the decreasing cash levels in your valet.
Are you seeking profit?
In a recent article, Larrie Perkins, an Alabama Tax Expert and specialized in Home Business Taxation, explains the notion of the “Profit Motive”. To qualify for home business tax benefits, you need to seek profit with your activity. This does not mean that your activities have to be profitable right away; in fact you can be in the red for the first two years.
But your intention must remain to make profit from your activity.
What are Home Business Tax Benefits?
If understand what Larrie is saying, then Home Business Tax Benefits allow you to deduct loads of day to day cost from your tax bill. Of course the cost has to be reasonable and in relation to your business, but with a bit of imagination, you can even make dreams come true!
The IRS pays for your collectors Corvette
It is reasonable to assume that you need a car to pursue your home based business. Have you ever dreamed of driving one of these nice good old Corvettes but you didn’t know how to finance it?
If it is reasonable to spend 10 000 to 15 000 Dollars on a car for your business (and I guess that is really reasonable), why would you not buy a nice good old Corvette? Go to eBay and look for one and let it become a “Home Business Tax Benefit”.
It does not need to be a Corvette, it could also be one of these nice old Pick-ups or Vans, on which you could advertise your business. Driving your old-timer locally will attract positive attention and it helps you to brand your home business … while having fun!
I deon’t know about Larrie, but when I look at his Vette, I can virtually see painted on it: “www.MyTaxBenefit-GetYoursToo.com” :-).
Build Assets with the IRS
The price of your 30 years old collectors Corvette is unlikely to converge to zero provided you do normal maintenance (tax deductible as well). In fact, while you will write off the car o from an accounting pint of view, the market value may increase over time and you are building ‘hidden’ reserves which are a brilliant asset for any business.
So, stop paying for other peoples Corvette, start your own Home Business and get your own toy for free! If you are in the USA contact Larrie Perkins.
If you are here in Greece, contact me, if you would like to find out how the European Union subsidizes your Donkey for your local transportation needs and how the Greek laws allow you to get more subsidies to feed the animal and how to tax deduct a mule even if you have not got one.