It’s Tax Season in just a few weeks.
Thank goodness I am not a CPA.
I am thankful FOR my CPA.
People will start getting their W2’s and 1099’s. These documents will show all the money they are donating for free to taxes listed on the stubs.
Painfully that they will never see again.
If you make $50,000 in taxable income, then $7,550 is taxed at 10%, $23,100 is taxed at 15%, and the rest, $19,350, is taxed at 25%. That means you pay a total of $9,057.50 in income tax.
You get to pay your bills and live on $40,942.50 which is yours to keep.
$40,000 sounds like a lot of money until you add 2 kids or 3 and divide that by 12 months
Mortgage or Rent
the list goes on…
You quickly find your check doesn’t last as long as the month does.
The money you could keep if you had a home business
Courtney Epps is a Fractional CFO, tax strategist, and author of the book More Relaxing, Less Taxing: Why You Would Be Brain Dead Not to Own a Business.
Her passion is to help individuals, home-based businesses, and brick and mortar businesses become educated in saving money on taxes legally, morally, and ethically.
Her speciality is finding and saving money that companies and individuals didn’t know existed.
I get to have lunch with her in February and that is one lunch I am looking forward too. Every penny I get to keep just makes sense to me.
When people think of a business they think of long hours, hard work and business meetings.
For most business owners it is nothing like that at all.
The benefits of a home business out weight the $10,000 you give away every single year for not having one.
Listen to Courtney talk to Eric Worre in the podcast.
Since we are talking numbers…
To start a home business on my team cost $165 with taxes around $171 to start.
… and that is your first tax deduction to document in your Quickbook.
Each month to qualify for a check with our company you much order $100 dollars a month called ER (essential reward)
That’s $1200 a year – all tax-deductible.
That’s not including portions of your utilizes, car miles, travel, events.
Don’t just give your money away to learn how something this simple can help you keep more than you donate to taxes.
We have seen how they spend our tax money – you may as well benefit for your family.
Not to mention extra $200 – $500 you can make with a business a month during the year.
In Courtney’s book, she talks about the many things you as a home business owner can deduct every single month that you are already using but not allowed as a deduction without a business.
Depending on your W2/1099 situations you can get $4000-10,000 back at the end of the year. Would that be worth the start-up fees and the monthly obligation?
Of course, it would.
Let’s Sparkle 2020!
My name is Angela Brooks I’m from Kentucky. I am a mama who built a big business part-time on my lunch break blogging and using social media until I was able to retire from 30 yrs of nursing while working ‘power hours’ part-time from home. Thank you in advance for sharing this Post.
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