|Small Business Information
Why start your own
part-time small business?
1. Earn extra income
2. Enjoy tax advantages that running a small business can provide.
3. Turn your hobby into a money making venture.
4. Maybe become self-employed or even financially independent.
Top Five Home Business
1. Home Office Deduction
2. Automobile Expenses
3. Computer and Internet deductions.
4. Travel Expenses (Combine business and personal trips)
5. Business Meals and Entertainment
Tax Strategy #17 - Make your credit card
This is a great strategy if you have
existing credit card debt, but it can be tricky, so follow the
Start a small business. Find a low interest
credit card, a personal account will be fine. This will be only used for
business related expenses. Never use this card to pay for anything you
don't have cash to buy. Now when you need something for your business take
the cash that you were going to use to buy it and instead pay it on your
existing non-deductible credit card bill. Then use the new business card
to pay for the business expense.
In effect you have moved your
non-deductible personal debt into a deductible business expense. All
interest you pay on the new card is tax deductible.
You can easily create $10,000 in deductions
next year by starting your own small/home business.