People who own their own business tend to make a lot more money than those who are employed by others, and therefore pay more in taxes. To encourage you to start a business in your home, Congress offers over 100 tax benefits to those who start a home-based business according to Sandy Botkin of the Tax Reduction Institute. When you become a Personal Promised Land Guide, you are eligible for all the tax benefits to those who have a home-based business. Sandy Botkins says the average home-based business owner saves some $300 per month or over $3000 per year. Sandy, a former top IRS agent, says people can cut their taxes by 50% legally, morally and ethically by starting a home-based business. He has helped over 50,000 people save millions of dollars in taxes. If you have someone else do your taxes, they should be aware of these tax breaks. If not, you can get all the information you need from www.taxreductioninstitute.com..

Let’s say you set aside 20% of the space in your home to use primarily for your business. You can begin deducting 20% of the yearly depreciation of your house off your taxes. If you rent, you can deduct 20% of your rent.

You may also be able to
deduct for things like:

$ Your mortgage

$ Your utilities

$ Your real estate taxes

$ Cable or satellite television

$ Home repairs or remodeling & related loans

If you use you car to go to meetings or meet with you upline or downline, you can deduct for things like:

$ Auto payments or lease payments

$ Auto depreciation

$ Gasoline purchases

$ Oil Changes, Car Washes and all auto repairs

$ Parking fee and auto tolls

$ Auto insurance

You will also have the opportunity to deduct business related expenditures such as:

$ Dining out

$ Travel expenses such as hotels, plane fares, auto rentals, etc., etc.

$ Paying your children for ministry related work they do or training

$ Phone or cell phone bills

There are over 100 such tax deductions that become available to you once you start your own home-based business.

Sandy Botkin says if you are not in a home-based business, you are throwing thousands of dollars away each year. He recommends that every American start their own home-based business. Even if you don’t make money at the business, you’ll make money with the tax deductions.

Sandy says if you are going to be using your home and car for your business, you can get tax relief immediately. If you work for someone else, you can go to the human resource department and have them add two more tax exemptions (your house and your car) to your W-4 form.