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Home Based Business: Your Ultimate Tax Shelter
Starting and operating your own home based business is the ultimate tax shelter.
Although this article has been written from a Canadian income tax perceptive, the principles should be practical in other tax jurisdictions.
1. Non-Deductible...
"Home Based Businesses - Heaven or Health Hazard? What You Don't Know
My name is Paul Upp. After commuting for 2 to 3 hours per day for the past 13 years I finally realized one of my lifelong dreams…. an opportunity to work from home. I now had more time with my loved ones. The ‘honey do list’ was now getting shorter...
Reflections On The First Year Of Working At Home
For reasons that escape me now, I kept sort of a diary during my first full year of working at a home based business. It was nothing close to being a complete daily diary, but was more of a collection of scribbles about things that I felt were...
The Home Business Trap
Whatever your reasons are for wanting a home based business, there can be no doubt, it is one of the most rewarding feelings in the world when you start to see the rewards of your efforts paying off. Whether you run an online or offline home...
Working at Home is a MYTH!
Tell that to me and my wife and we'll laugh at you. We've been working at home for the past nine years now. So what, exactly, does that mean to you? Well, it should alert you to the fact that there are people out there who are doing it every day....
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Avoiding Home Business Scams
Now maybe the reason you're interested in setting up a home
business is because you've seen an ad somewhere, or you've been
approached by someone. It was all about a great work-from-home
money-making opportunity, and you're excited. Finally, you can
quit your job!
If you're thinking of working from home by someone else's rules,
though, you have to realise that at least 99% of the offers out
there are scams - after all, if it was that easy to pay a few
dollars and make thousands, wouldn't everyone be doing it by
now? Here are the biggest scams out there, how to recognise
them, and how to avoid them.
Location, Location, Location.
Where did you see that work from home offer? If you got it in
the post, or by email, or saw it on a poster taped around a
telephone pole, then I can guarantee you right now that it's not
a legitimate offer. If you saw the ad in a newspaper, in a jobs
magazine or on a jobs website, then it's a little more likely to
be legit - but not much. Always check out any offer, and assume
it's a scam until you have iron-clad proof to the contrary.
Envelope Stuffing.
This is the most established work-from-home scam, and it's been
going for decades now. Basically, once you pay your money and
sign up to work from home, you're sent a set of envelopes and
ads just like the one you responded to. You might make some
money if someone responds to your ad, but eventually there just
won't be a market for it any more. Anyway, work from home offers
like this are illegal pyramid schemes.
You won't make any money putting letters in envelopes - get over
it.
Charging for Supplies.
The practice of charging for supplies is hard to pin down to any
one scam - it's the way almost all work-at-home scams work
(including the envelope stuffing, above). You'll be asked to
make a small 'investment' for whatever materials would be needed
to do the work - and then you'll be sent very shoddy materials
that aren't worth anything like what you paid, and you'll find
that there's no market for the work anyway.
If anyone asks for money upfront, run. A real company should be
willing to deduct any 'fees' from your first paycheque - if they
won't do that for you,
then that's because they don't ever plan
to pay you.
Working for Free.
This variation on the scam is common with crafts. You might be
asked to work at home making clothes, ornaments or toys.
Everything seems legitimate - you've got the materials without
paying out any money, and you're doing the work. Unfortunately
for you, when you send the work back, the company will tell you
that it didn't meet their 'quality standards', and will refuse
to pay you. Then they'll sell on what you made at a profit, and
move on to the next sucker.
Never do craft work from home unless you're selling the items
yourself. Note that you don't need to be selling to consumers
(you could be selling to wholesalers), but you still need to be
the one deciding what you make and getting the money.
Home Typing, Medical Billing, and More.
There are lots of work-from-home scams that involve persuading
you that some industry has more work than it can handle, and so
has to outsource to people working from home. For example, you
might be told that you'd be typing legal documents, or entering
medical bills into an electronic database. These scams have one
thing in common: they all say that all you need is your
computer, and they all then go on to say that you need to buy
some 'special software'.
This software might appear to be from a completely unrelated
company, but don't be fooled - the whole reason the
'work-from-home' ad was there to begin with was simply as
cynical marketing for the software.
As you can see, running a 'home business' that just involves
'working' for one company is a bad idea. You don't know who
you're dealing with. Here's the clincher, though: even with
entirely legal work-at-home offers that do pay you for your
work, you still won't make anywhere near as much as you can with
your very own home business. So why bother with them at all?
About the author:
James Calvin will show you how to market your product to the
World using the only REAL techniques that make the Internet pay
off. Go to http://www.MillionaireMarketingManual.com NOW. You
may freely distribute or publish the above article as long as
this bio and an active hyperlink are accompanied with it.
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