Are You Able To Have the Government Pay For Your Business?
Many people never get started in a business because of the cost. Most times, it’s a monthly fee to keep it going.
Government loans are hard to come by, but you have to pay them back! What if there was a way to get your business paid for and you never have to pay it back?
There is! It all comes along with having a home based business! The main ingredient is having an intent to make a profit. However, normally in the first few years, you may show a paper loss, which can lower your taxes for the year.
Here is an example.
Let’s say that you have a program that has a $50 monthly fee and you are putting it off due to the $50/mo fee.
You work a job making $50,000 per year.
The normal expenses for running a business for a year would be:
Cell Phone $1,200
Mileage $3,000 (approx 6,000 miles)
Business Fee $600
If you are in the 15% bracket, you will get a cash tax break of $828
So, you will pay $828 less in tax. How can you get that now so you can pay your $50? Simply change your W-4 form at work so you have less money taken out each pay. The increase in your paycheck can pay your $50 each month.
All the other expenses you have anyway. Now that you have a home business, you can use them as deductions. These expenses listed are just the tip of the iceberg of what you can deduct!
The best part is that this is your money anyway! You do not have to pay anything back like a loan. I’ve been helping people do this for over 40 years! It has helped many people start their businesses and succeed!
Please leave a comment below! I recommend that you have a trusted tax advisor look at your tax situation and recommend the appropriate changes to your W-4.
CLICK HERE for more info on how to create your own tax reform!