It is tax time in the United States and most of us who are not going to get a refund from the government are not anxious to hand the money we owe over to the IRS any sooner than required. You may already have an idea that you will owe taxes or that you won’t be getting the tax refund you would have liked.
Many Certified Public Accountants are advising their middle income customers to start a home based business to maximize the tax deductions. A family with two wage earners, each making $35,000 for a combined family income of $70,000 can expect to save $400-$600 a month in taxes just by owning a home based business.
The money you earn from you home based business after the tax advantages is just icing on the cake. According to IRS rules, I am able to deduct my start up costs to get started as a business builder with XO. I am able to deduct my monthly XO subscription requirement since I am not able to earn commissions unless I maintain it. Since it is a requirement of my business, it is fully tax deductible.
Every time I get together with my team, I can deduct those costs. When I take a trip for business, again I can deduct it. When I have a home party and share my XO business, I can claim that. If I go to lunch to meet someone about the business, I can deduct that as well. I can also claim my cellular phone bill or other necessary bills for my business. If you have a dedicated space in your home used exclusively for the business, you can also deduct that. You will want to contact a CPA or tax advisor for the specifics of everything you can claim. Make sure you utilize a record keeping program like the deductr app to keep track of your deductions.
As you are preparing to take the hit on this years tax bill, now is the time to make the changes for next year. Get started with your home business today and you will be able to write off your healthy chocolate or the new Beyond Beauty Cream anti-aging skin care and get paid to do so. How would you like to buy a monthly product of $100 to $125 and receive $400-$500 every month back in tax savings? That is what it is like when you are middle income with a current W-2 employer job. Instead of claiming 4 deductions for a family of 4, you may need to claim 8-10 which will immediately put additional money in your pocket every month.
This is a serious opportunity for major savings. As you do your taxes this year, verify it with your tax accountant. The government basically subsidizes your business to help you succeed. How awesome is that?
Now is a great time to get started with the Beyond Beauty Cream and XO Healthy Chocolate business. To get started as a business builder, you pay a $39 fee which covers your website and starter kit and then purchase your product. Business builders start with 6 products and then need to purchase one product per month to maintain eligibility for bonuses. With our current coupon promo, you can use coupon code 6684 to get a Buy 2, Get 1 Free Deal through March 17th.