Wednesday, November 19, 2008

Benefits of Owning a Small Business

The I.R.S. allows for individuals to form their hobbies into businesses, known as a "hobby business". They have a nine-item list of what comprises a legitimate business venture. I understand those nine requirements and will give you a listing of those requirements. If you form and own a legitimate business you can:

1. Pay taxes on less declared income while keeping more cash
2. Using your business, you can protect your assets from creditors and legal actions.
3. You can build assets and income which will give your family financial security and give you a better retirement.

Did you know you can use your children to work for your business and their pay can be a business deduction? Did you know that you can own a home and use that home as a business asset? Did you know you can have a business automobile and have the business pay for it's gas, insurance, maintenance and repairs? So many things you can do as a small business owner.

Everyone does something on the side to make a little extra money. You don't know what you are missing by not taking this money-making hobby to a new level. PLEASE CALL ME or EMAIL ME. Let's talk. There is no charge for our initial meeting. The telephone numbers or email address is shown on the section "How to Contact me".

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