subject: Tax Breaks [print this page] There are hundreds of tax breaks for business owners. The main 5 should generate about 4 to 5 thousand dollars in addition to your regular tax return. The first and probably biggest for most of us is going to be business use of your personal vehicle. If you save 3 months of logs of when you used your personal vehicle for business then the government will see this as a sufficant gauge of how much you used your vehicle for the rest of the year. Then of course there is using your home to conduct business. It use to be that you had to prove that you had a room set aside for your home office. Now as long as you can easily tell where your home office is that is enought. Example, if you have your work desk in the living room, as long as you can easily tell it us used for the business, i.e office supplies, company logo or business cards etc, then you have meet the requirments. Next is business entertainment, this use to be tricky but now as long as you talked business for at least 30 minutes regardless of the venue then that is covered. Then there is the associate entertainment, this will aways be legit if you have a business meeting in the same calander day as the associate entertainment. For example you were gonna have a business dinner but decided to take that business associate out to a game of tennis, the tennis is a tax break ( even if you dont talk any business) as long as you have that business dinner on the same day. And lastly and my favorite is hiring family as employees. This to me is funny because OSHA sees it fit for a child of at least 6 years old to work for the childs parents. lol. But the allowence that you would pay the child any ways counts as a tax break then if you paid the child less then 5 thousand some odd dollars then it is all tax free. So that money was never taxed by the government. Now there are many MLMs that you can join to get these tax breaks but my wife and I choose Xango because its an honest company that has created 100 new millionairs in its short 6 years of being in business. I'm going to make it 101.
