Start Before The New Year

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Start Before The New Year

Yes, it’s time to start before the new year.

I have talked about this before and I will talk about it forever because I believe in being in business for yourself.

December is indeed the time to start your side hustle or home-based business, if you don’t already have one.

Here is why.

By starting it now, it can provide you with additional income in the new year or even replacement income down the road. 

We know many companies are either scaling back or closing down, which is throwing thousands of people out of work.  It is becoming the result of new global economic trends and it won’t go away.

So, having a side business allows you to develop a secondary income stream that adds to your cashflow. One solo job just doesn’t cut it anymore.

And, it doesn’t have to be complex with products, office space and staff. In today’s age, there are many options open to us at a very low cost to get us started.

What if you should suddenly lose your job?  Your side hustle provides a buffer, a safety net, at least until you find other employment. This is why it’s crucial to start before the new year. 

It is never too late to start a side business, unless of course you have lost your primary income.  Now you are really scrambling, sweating and probably using up your savings or selling your investments.

Another major point is the tax benefits you get for having your own home-based business.   Many people don’t consider this at all.  

I know I bring it up all the time with my prospects who say things like “I can do that?”  Yes you can.  

Telephone, office space, heating, electricity, computers, printers, cell phone, auto, insurance, home office and other start up costs can be deducted and claimed against your annual income tax.

The tax deductions can help offset your costs of setting up the business, so that your return on investment (ROI) is quick.

So by starting your home-based business now, you can claim certain costs on this year’s tax return, and continue into next year’s return.

Starting up your side hustle or home-based business can be something that interests you and that you are passionate about.

It can be more meaningful to you than your current job. It can involve giving back in some way and really define who you are. This will motivate you daily to work on and grow your own business.

You know I have been in business almost my entire life.  From family farming, franchise ownership, real estate investing, leading a team in network marketing, consulting and being an author.  

Nothing gets me more excited than being in business for myself.

And it’s not just me saying this.  Well respected people like Robert Kiyosaki, Paul Zane Pilzer, Dave Ramsey, Jim Rohn and others validate the importance of starting your own business.

So why wait – the benefits cannot be ignored.  Now is the time to start before the new year!

I’ve helped many people from all walks of life start their businesses and I can help you too.

If you would like to learn more, then let’s have a chat to get you set up for 2020. 

You can book a call with me right here on my calendar.

I look forward to hearing from you. 

About the author 

Deborah MacDonald

After almost 25 years as an entrepreneur, I continue to grow my business, my passive income streams and my wealth. And now I mentor others on their wealth journeys by teaching them how to fund their own freedom lifestyle.

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