According to the Fraser Institute, the average Canadian family pays approximately 40% of its income in taxes! To reduce that percentage for your family, consider what deductions you can apply to your income tax return.
You Can Have More (Much More!) Money in Your Pocket
Here’s today’s number one strategy for tax reduction: Take advantage of the deductions that you are legally allowed to claim as the owner of a home-based network marketing business. In the normal operation of your business, you use your home and car and are required to travel and entertain. That entitles you to deduct a portion of those expenses:
- Home costs, including maintenance, utilities, and insurance
- Vehicle costs, including gas and repairs
- Entertainment costs, including dining with clients and attending meetings
- Travel costs, including trips to conferences and trade shows
Use my tax estimator tool to figure how much money you can save. See how you can actually cut your tax bill in half! Now all you need is the business of your dreams.
Getting Started Is Easier Than You Think
Like starting any business, starting a home-based business takes some time and risk. But because of the support mechanisms that are available to help network marketers, it’s far easier to start a network marketing business than to start a traditional bricks-and-mortar business. And you can keep your regular job in the process.
In addition, you don’t need a big investment. In fact, the money you save from the tax deductions alone will more than cover your start-up costs. To learn more, read my article “The Real Secret of the Rich.”
Count the Benefits (Then Start Counting Your Blessings)
Once your business is up and running, you not only qualify for some great tax deductions, but you can also reap many more benefits:
- More money in your pocket
- More time to do the things you love to do
- Increased self-confidence and sense of self-worth
But putting more money in your pocket through tax deductions and earnings from your home-based business are just the beginning (link to website).
Let Me Take You to the Next Step
You Can Become Financially Free in Five Years
Yes, I can show you how to be financially free in just five years. I did it, and you can too.
2 Comments
What a great article Deborah! Cutting on taxes is one of the many reasons Pierre and I have decided to build a home based business utilizing network marketing as our vehicle. It is absolutely astonishing the tax savings it gives us. Furthermore, as you mention, starting a network marketing business has HUGE benefits as almost anybody can get started for a minimum investment. The support you receive while you are growing your business makes it possible for individuals to keep their jobs. I highly encourage anyone wanting to save on taxes to go to Chapters and invest in a good book regarding this topic. You’ll find that most of them guide you towards a home based business, and often in the network marketing field. Thanks for sharing Deb!
Christine – you are so right about the low risk investment for a business that can reap high returns coupled with full support to help you achieve success. And, I love the fact, that it is easy and simple to do at the same time of working your day job with the benefits of the leveraging component. You guys certainly are an excellent example of living your dream lifestyle and building a solid network marketing business! Appreciate your comments!