Tax Secrets for the Advanced Entrepreneur
I feature some advanced tax strategies on my site that not every home business owner is ready for but I figure many of the forum members are already somewhat successful so I will go to a different level with you.
Looking for meaningful tax deductions is fun, and I like to share them. By meaningful, I mean deductions that could save you thousands per year. Not just the little stuff. It has been an interesting challenge putting these on a site and marketing them. Everybody needs them, but most only talk about them in April.
I'm a firm believer that to be successful in any home-based business, a person needs a solid business foundation. Once the benefits are understood and used, they will never want to be without again.
With that said, I will start by asking you a question. "Did you know you could incorporate your home business and get more deductions than major corporations?"
As I explain in my site, using video and fun articles, I would never use a corp for holding assets but to manage other entities, like LLC's or LP's that hold the assets and working businesses.
Without going into depth, this structure opens up a whole myriad of other options for more fringe benefits, expanded deductions and even some tax-free money if you know where to look. This is no top of all the home business deductions and if used properly, will give you better asset protection, personal and business. (All compliments of the U.S.Congress.)
Obviously, there is a lot going unsaid here because this is not the place, but I'm hoping to get you a little more curious so you will at least look into it. It's not as hard as some attorneys make it out to be and well worth a little extra effort.
Also, for those outside the U.S. you can structure here also, if you do business here and have a little know-how.
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