The IRS (Internal revenue Service) is a subject most don’t want to think about, but on our Webinar this past Saturday, one of our active Members, Mark Hultgren, spilled the beans about his recent Audit and offered some very important information to everyone involved in the Home Based Business Activity and Internet marketing.
It has amazed me, for the past 5 years meeting so many here on the Internet, how few people realize the importance of operating with a Business Mindset, regardless the size and scope of your Home Based and/or Internet Commerce.
One of the most attractive advantages of a “home based Business” is the liberal Tax advantages offered by the US Congress and the Canadian Government to encourage the growth of such income producing activity.
But it is critical the entrepreneur treat their endeavor as a BUSINESS to qualify for these generous deductions
So many “new” and experienced entrepreneurs seem to let the mundane task of being in Business slip by. With the explosive growth on On-line Cash Flow through affiliate marketing, eBay and other E Commerce sites, the IRS has beefed up the Audit Process for On-line Entrepreneurs.
Listen to an excerpt of Saturday’s Webinar and find out HOW TO assure yourself protection in an Audit.
Excerpt of Webinar
If your goal in 2010 is to supplement existing Income or enter “Home Based Business” full time, grab a copy of the FREE Tax Planning report at the Top of page FREE RESOURCES Look for Featured Resource.
Be sure your Business Plan is Up to date. Don’t forget to write in the provision for Family Health Expense Reimbursement.
I would also encourage everyone to invest in the Easy to use Software to minimize your Risk ( if You USE IT ) and maximize your deductions. I am affiliated with this site and will earn a modest commission when you purchase it…
Organize your Home Based Business deductions
That’s Good, because you will then be an affiliate and able to share with your team members.
The success of your Home based Business, be it totally on-line or a Mixture, definitely hinges on your Managing it as a Business Person with a Business Mindset. Discipline yourself to some of the mundane tasks (or hire them out) and rest assured you can concentrate full energy on the Growth and expansion of your Dream Business
Stay on top of Business Building Tools and Methods and have access to all past and Future episodes of the Webinar Series, Build a Web based Business from Scratch..
The opinions expressed in the Video and on this blog are my opinions. An intelligent person would seek counsel from their Tax Professional