Monday, April 11, 2011

Big MLM Tip of the Day: Tax Time

Tax day is almost here again. Are you going to be able to take advantage of owning your own business this year? 

Owning your own business gives you the opportunity to take many more tax write-offs. Common write-offs are business expenses such as office supplies, mileage and vehicle depreciation, and recurring monthly expenses such as auto responder fees and the like. A tax professional will be able to help you determine which ones you qualify for. 

Another thing you may want to consider is incorporating. At first, you may not earn enough to worry about it, but eventually it could help a lot. 

The simplest way is to form an LLC. There are several options on how to do this. Legalzoom.com can handle most of it for you making the transition simple. 

Incorporating can help protect you and your business as well as offering tax advantages.
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