My new purpose – To help people achieve their physical, spiritual and financial health by building a Shopping Annuity Investment where the consumer earns the highest return on every single dollar they spend. My Shopping Annuity Business allows me the freedom and flexibility to help others build an investment to achieve financial security and time freedom.
For people who have never been self-employed, they have no idea the tax benefits. The categories mentioned may apply to your business, and are referenced in a Turbo Tax article.
What was your initial investment to start your business? With Market America and SHOP.COM it costs $399 plus tax, which enables you to have your own shop.com site. As an owner in our business you get to be an owner of a multi-million dollar platform where we have the ability to sell millions of products, only we do this digitally. With the Shopping Annuity, which is exclusive to SHOP.COM, we have the opportunity to earn income off of our spending AND off of the spending of others. Finally, we have the opportunity to expand distribution to create leverage much like a franchise does, only we are a digital platform.
What do you need, in terms of supplies, to grow your business? If you are planning to purchase any big ticket items in 2017, consider them as a tax deduction since you will use them to build your business. I use my computer to communicate through social media; it’s what I’m typing on to publish this blog! Also, I invite team members weekly to my home to view trainings and presentations and I use my television and speaker for viewing purposes. I also use my cell phone to conduct business, and require an internet connection in my home. Also, would you have a home office? Perhaps that would entitle you to additional deductions.
These are all important factors to consider when evaluating a business opportunity. Timing can make a big difference with regard to your tax position. With only a couple weeks left in 2017, starting your business now, may mean a difference in your tax return. As always, consult a professional accountant with specific questions and considerations. This article is written only to raise awareness about the idea of tax deductions related to owning a business.
Until the next deal,