Archive | December 2012

Start Your Travel Business Now with Coastal – Great Tax Write-Off

My Experience with Tax Advantages has been Beneficial

Ms Johnnie

Ms Johnnie

Over the years I have learned a lot about creating income from an entrepreneurial perspective. I have learned and shared a lot of experience on the difference between Active and Passive income. This blog post is designed to discuss the tax advantages of starting a home business as well as the tax benefit for those who are already working full-time.

I have personally operated a number of successful profitable part-time home businesses. For the past two years I have been full-time at home. Every year I enjoyed the many tax advantages.

When my home business was part-time the expenses I incurred allowed me to claim against my full-time working income as a tax advantage. Let’s take a look at my experience and through this understanding how you can also take advantage of it.

The Purpose of Taxes

In most countries tax laws are designed to benefit businesses and not individuals.

As an Employee, you pay tax that is deducted by your employer (state, provincial and federal income tax) and you also pay taxes when you purchase goods and services on a day-to-day basis including some foods, household expenses, rent, utilities, fuel for their vehicle, etc.

Business Tax Advantages Are Not Well Known

One of the most significant benefits you can enjoy as a home based entrepreneur is the ability to claim expenses and reduce your overall taxable income in a calendar year…just like any other business.

What are the tax advantages of a home based business?

The home based business model that I have found the most enjoyable and flexible is a network marketing business as it gives you the opportunity to enjoy all the benefits this business has including numerous tax deductions. The thing is that many people do not understand this excellent business model or the tax advantages.

What are the Deductions?

I am not an accountant or tax adviser. I can speak on personal business experience for what I have received over the past  7.5 years related to my home business and full-time working career.

What we do know for sure is that the government allows you to claim tax deductions for the initial start-up investments you make to start your business. As well as your computer, your phone and internet expenses are also to be included for tax deductions.

  1. Home Office Deductions You can claim a percentage of the rent or mortgage costs for the space you use to operate your business such as a spare bedroom that is used as an office.Your home business qualifies for the home office tax deduction, but only if part of the home you use for your business is exclusively used for business (such as the spare bedroom). If you use your kitchen or living room as your “office area” then you will not be able to claim it as a tax deductions, as these spaces are used for other personal reasons as well.To maximize your tax deduction as an office expense assign a room that you will exclusively run your home office from. You will also find this much better in managing your time, staying focused and getting the most advantage from an organization standpoint resulting in increase success in your business.
  2. Home Repairs & Maintenance Many of the repairs and home improvements can be tax-deductible as well. If you rent your home or apartment you are allowed to deduct a percentage for the portion of your home used exclusively for business purposes.

    As an example, lets say you own your home so the government allows you to claim a percentage of your mortgage interest paid for your home. If your home is 2000 square feet house and you have designated a 200 square foot bedroom as your home office, this would allow you to write off 10% of your mortgage interest (or rent if you are renting).

    To track and record here is the spreadsheet I use.

  3. Home Expenses The government tax laws will also allow you to write off a percentage of personal home expenses including cleaning supplies, snow removal, home insurance, home security, electricity and other utilities all as business expenses. The percentage that you can write off is similar to the home office deduction explained above. So basically in continuing with our example you can write off 10% of your home expenses for business purposes.
  4. Transportation Expenses Any home based entrepreneur has a requirement to leave the home to conduct business activities. The tax laws allows you to write off the transportation expenses you incur for business related traveling, like traveling to and from meetings. Be sure to keep good records of your activities by recording the odometer of your vehicle before and after making your business trip.
  5. Communication Expenses Canada Revenue Agency considers the first phone line in your home as a personal expense however you can claim a percentage if it is your only line. You are allowed to claim tax deductions for any additional phone lines, including cell phones used for business purposes and internet service.
  6. Meals & Entertainment Expenses Many entrepreneurs will incur expenses to provide lunch or entertainment to your prospective clients. The tax laws allow you to get up to 50% tax deductions on the cost of meals and entertainment, but keep good records and save receipts.
  7. Travel Expenses. One of things I like most about the network marketing profession is the ability and freedom it affords to enjoy travel. You can enjoy the freedom of travel for business to conferences, training events, luxury vacations and claim the costs of your flight, hotel and any meals that you need to eat while out-of-town. This is only deductible for “business related travel” however it can be a significant deduction.

There are a lot of Advantages

As you can see running a home based business can provide you with a lot of tax advantages and deductions that otherwise does not exist when just working as an employee.

These deductions can be beneficial regardless if you are a full-time or part-time entrepreneur. You will want to keep track of all your receipts and expenses in an organized system such as an expense report.

This is the spreadsheet I use on a monthly basis to keep track of my business expenses.

December is the PERFECT Month to Start a Business

If you are reading this article in December 2012 you have limited time left to take advantage of the tax benefits. Now is time to get started in your business and take advantage of the many tax advantages.

The significance of this month is offset your full-time working Employee income with your start-up investment, claiming a loss in your first calendar year (2012)…therefore reducing your total overall income taxes paid for the year. In some cases depending on your salary you may even enjoy a refund from the government simply from starting your business in December.

This strategy will set you up to be in a great position to maximize your 2012 tax situation as well as get you started as you embark on a New Year with a new focus, direction and desire for your future – financial freedom!

Why Pay More Taxes…?

If you have been thinking about embarking on a home business adventure there is no better time to start than the month of December. Starting before the end of a calendar year makes you eligible to claim your start-up investment in the same calendar year thereby giving you a tax benefit on your salary.

Putting it off until the New Year you will either not see this tax benefit until you file your taxes for that year or most likely your business will be a profitable situation very soon and you will be using your expenses to reduce your income tax paid on that income. So why wait?

If you are searching for an opportunity to start at home business ‘Now’ is the time!

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Coastal Travel Vacations – Perfect Home Business

Coastal Freedom

Coastal Travel Vacations

We’ve been making a great income selling travel packages part-time

Find out how you can do it too!

This might be the most important message you read in your life!

Are you ready to leave the 9 to 5 grind? Do you find yourself working too hard, not making what you’re worth, spending time away from what matters most in your life? Start this unique home based business to begin living life on your terms and get a piece of the 7 trillion-dollar travel pie.

 

Get the lifestyle you want with the most dynamic home business available!

  • Set your own schedule
  • Enjoy a lucrative new stream of income
  • Spend more time with your family
  • Work part-time and earn a full-time income
  • Have no boss to answer to
  • And best of all .. enjoy unlimited vacations!

You’ll have the power of pre-configured marketing systems and state of the art training at your finger-tips.

“Prior to starting my Coastal Vacations business, my life was very stressful as a single parent with three kids in college. I found myself going further and further in debt and honestly feeling there was no way out. I knew I needed to generate another stream of income.”
“I found myself in overdraft at the bank and no food in my fridge and knew it was time to make a decision. So I took a leap of faith and committed to building my business with the invaluable help of Dani Johnson, our team trainer, and her teachings.”
“In a few months, I have generated profits of over $90,000! I have been able to pay off over $39,000 in credit card debt and tithe to my church.”

– Dianne

Join a community that supports you and use a system that has produced results for many!

View Our Business Video Presentation Now by Clicking Here!!

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Coastal Vacations Featured in HBC Magazine – Coastal Freedom at it’s Best!!

Coastal Freedom (Coastal Vacations) featured in July HBC Magazine – Looking for new

Read all about Coastal Freedom (Coastal Travel Vacations) in the Home Based Connection Magazine July 2012. Google: Online Edition Home Business Connection. There are literally *THOUSANDS* of businesses out there to choose from. Most of them are pyramid-type deals or other pie-in-the-sky schemes. With so many choices, why choose Coastal? What makes it different?

Well, first of all, let’s look at some facts: According to a network poll, here are the top*10 criteria*people are looking for:

Coastal Travel Vacations

Coastal Travel Vacations

Substantial immediate income
Low initial capital
Product Value (can sell itself)
No need to keep product on hand (no inventory)
Easy to use, proven system
Company Stability
Duplicatable
Worldwide Appeal
Exponential Growth
Long term income

That’s a pretty tall bill for any one business to fill. Most businesses meet at least 2 or 3 of these criteria, but very few can meet more than that. Many people have tried program after program, trying to find the perfect one, and finally decide to give up. They lose hope that the*”REAL THING” truly exists.

Well, what if I told you that Coastal Freedom meets *ALL* of the above, and even more?

We have merged two of the hottest industries today – Travel and the Internet. The result is a business that blows the competition away. Let’s take a closer look at that list again as it applies to Coastal…

Substantial immediate income – $1,000 – $3,200 and even up to $9705 for every new client.

Low initial capital – Start your very own REAL business for less than $1500 capital up front.

Product value (can sell itself) – The Coastal Package is worth over $15,000, and yet we retail it for just $1,300.

No need to keep product on hand – You mail the order to the shipping center, and they drop ship the product directly to your clients.

Easy to use system – Full training provided by your own personal mentor who has had established success in the business and can show you the ropes. If you can give out a website address and a phone number, you can do this!

Company stabilityThe Coastal package is over 30 years old, and has been marketed this way for over 18 years. All the companies we represent are at least 20 years old, and are all licensed and bonded, as well as listed with the BBB.

Duplicable – The company offers tools for your success and also for the success of anyone you teach. Systems are already in place, one simply has to plug-in and get started!

Worldwide appeal – The Coastal opportunity is available worldwide. The package can be used by anyone, anywhere.

Exponential growth – Although Coastal is NOT multi-level (MLM), there is exponential growth built-in.

Long term income – Once you are a Coastal Director, you are a Director for life! There are no yearly agent fees, no minimum sales requirements, no inactivity penalties…. this business is yours forever.

But WAIT, we don’t stop there….. there’s more…..

No waiting on checks – You are paid directly by the customer, so you get paid FIRST. You then send the wholesale cost into the shipping center, and the package is drop shipped to your client. Because the company doesn’t pay you anything, they don’t keep track of what you do. There are no 1099s at the end of the year. It is up to you to keep track and report what you make. We Highly recommend hiring a CPA or a tax consultant.

No restrictions on marketing – Most companies make you get your ads approved and have to “ok” your ideas before you can use them. Not Coastal. This is YOUR business. You are completely independent. If you can dream it up, you can do it.

Tons of people love to travel!!! – Travel is the one thing that has universal appeal. Families, businesses, non-profit organizations, retired couples… everybody…. loves this package. Even the biggest skeptic will perk up his ears when you start talking about the Coastal package.

Dozens of effective marketing methods – Our Directors use many different methods…. some use the internet exclusively, some just over the telephone, others solely in person. You can use postcards, seminars, trade shows, newspapers, magazines, the internet, business-to-business… the possibilities are endless! And, as part of your personal training on our team, you will be taught about each of these methods and how to use them.

There is NO Better Business out there. I know, because Myself and other Coastal Freedom owners have looked. This is the ONLY thing that ever made any of us a substantial income. How many people can say that? That their business they run from their home pays their bills? Very few.

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