Why You Should Start And Never Quit
By: Michael Wilson
WHY YOU SHOULD START, AND NEVER QUIT, A HOME BUSINESS
Why you, and everyone you know and love, should have a home business!
Owning and working a home business is without question the most powerful financial strategy for building wealth and achieving financial freedom in existence today.
Many of the laws that govern our financial lives are on the books to benefit and reward business owners, not employees.
You’ve probably heard the saying that the wealthy pay less income tax than the average working person. You’ve also heard that the rich get richer, and the poor get poorer. There is truth in these statements and when you look beyond the surface you’ll find this is true for the wealthy because they are business owners.
This is so important, I’ll repeat it - the laws of this country are designed to benefit and reward business owners, not employees. And these laws do not distinguish between a part-time home business and a traditional business on Main Street.
For example: You’re married, both you and your spouse have a job, both of you probably have taxes deducted from your pay cheque every pay period. At the end of the year you file your taxes and hope to get a refund on a portion of what was deducted throughout the year.
That’s your first mistake and here’s why…
You see if you’re getting a tax refund it’s because you overpaid your taxes throughout the year. And what this really means is - you are giving the Government an interest free loan. Unless you’re extremely wealthy, you cannot afford to be giving out interest free loans. This is actually money that should be invested by you towards your financial freedom.
Let’s take this scenario a step further…
You see, employees pay for things they want and need with after-tax dollars, meaning every dollar the employee earns is taxed first and then the employee gets to spend what’s left over. Business owners, on the other hand, pay for a lot for things they want and need with pre-tax dollars and the cost of those items can be used to reduce the business owner’s taxable income, thereby reducing the business owner’s tax liability. In other words, the business owner gets to buy things he or she needs with money that would normally be paid out in taxes.
For example: You want to buy a brand new computer for the family and the cost of the computer is $1,000. As an employee you pay $1,000 for that computer but you had to earn $1,300 just to have the after tax $1,000 for the computer.
The part-time home business owner, on the other hand, buys the same $1,000 computer, deducts the cost of the computer from his taxable income and the result is he’s reduced his taxes by $300. The net cost of the computer to the business owner is $600 less than the cost to the employee for the same computer.
Another example: The employee gives his children an allowance, most parents do that, they give an allowance in exchange or as a reward for the child doing chores around the house. But the business owner who also gives his child an allowance, because of his status as a business owner is allowed to call that allowance a salary, and again, deduct that amount from his taxable income.
Another example: The employee takes a vacation, and pays for that vacation with his after-tax dollars. A business owner takes a vacation and does a little business on vacation, which qualifies the vacation as a business trip. Now he can deduct a big portion of the cost of that trip from his taxable income.
Another example: The employee drives his car to the store to buy some milk - the cost for the petrol in the car is paid for by the employee with his after-tax dollars. The business owner also goes to the store to buy milk but he leaves a business card at the store and because he did that he’s able to say "I went to that store to drop off some marketing material and while I was there, picked up some milk." Now the business owner gets credit for 36 cents a km and again he can deduct that mileage from his taxable income.
Are you starting to see the point?
Starting a home business can add thousands of dollars a year to your household income and that’s money that, for the most part, would be paid out in taxes. This is so powerful, you can own a part time business that is not making a profit, but because of the tax benefits you still have more money in your household to do whatever you want with.
So, if you’re still an employee, and you do not have a home business, get one immediately. If you have a home business and you’re thinking about quitting, think again! You’d be leaving some very serious money on the table. Or maybe you’re not convinced yet, you should be, but you’re not.
So here are additional reasons to start and never quit a home business…
You see there’s no security in a job, especially in our new information based global economy. Companies today will only keep you as long as they’re making a profit on you. The old cradle to grave job market where you go to work for a company and retire after 40 years with a gold watch and a pension, for the most part, has ceased to exist.
And if you don’t believe it - consider this. The job market has a whole new language nowadays, with terms like downsizing, outsourcing, etc. You see, starting a home business is the best way to ensure your financial security. A home business will allow you to build residual income - that’s the kind of money that comes in month after month, year after year, whether you work or not.
In addition, a home business gives you the ability to develop multiple streams of income, you can build one income stream to the point where it’s on automatic pilot, where it only requires a couple of hours a month from you, and once that’s done you’re free to go ahead and create another income stream.
In fact, Donald Trump recently said that he owned over 100 companies - that’s over 100 different income streams. And you can do the same thing with a home business. Presently, I own 2 different businesses, each one contributes to my income.
There are many more reasons to start, and never quit, a home business - more income, give yourself a raise, travel, buy your dream car, and more, but the single most compelling reason to start a home business is FREEDOM. The freedom to look in the mirror and see the boss. The freedom to use your talents to the fullest extent of your abilities and get paid retail for your talents as a business owner instead of wholesale as an employee.
Are you sick and tired of... • waking up to an alarm clock? • being worried if you'll be able to pay the bills each week? • not getting anywhere in life? • sitting in traffic jams 5 days a week? • being told what time you start and finish work and when you can take holidays? • soaring petrol prices? • being stuck in an office 5 days a week? • not being able to do enough of the things you love in life? Well, you are not alone! I was like that too, but not anymore! I decided I wanted more out of life & it was time to leave the 'Rat Race'!
Do you want a lifestyle where you can... • work only for a few hours a day? • send your kids to a private school? • spend more time with your family? • take holidays whenever you like? • have a 30 second ‘commute’ to your home office? • improve your golf swing? • work from anywhere at a time that suits you? • go fishing or boating in the middle of the week? • build an international business that provides an excuse to travel? • build an asset for your kids to inherit? • generate a passive income to finance your investments? • live in the suburb where you want to live, not where your budget forces you to live?
For example, if there was a natural disaster like Hurricane Katrina in your local area, many businesses would be wiped out, but your business would not be affected at all. I do business worldwide on the internet - all I need is my laptop and either a phone, or just a headset to use with Skype and make phone calls with Voice Over the Internet, and I can continue doing business. Had something like that hurricane destroyed my home town, it would NOT wipe me out. My income would continue and because my income comes directly from the internet to my bank, which has branches nationwide, even accessing my money would not be a problem. That’s what I call security.
Business ownership is what the wealthy do. Business ownership used to be the playground of the rich because it took a lot of money and risk to start a business. But two things have worked together to level the playing field - the Internet and new business models. You see, with the Internet you can do business worldwide from your home office. With the new business models you can start a business with minimal capital outlay, instead of requiring a large investment or a bank loans for a tradional business to fit out a shopfront, install fittings, advertising campaigns and paying for employees wages. With the Internet and the new business models, you don’t have to risk your life savings or your present cash flow from your job, you can start part-time from home.
Position yourself to take advantage of the tax laws that put more cash into your household just for owning a home business.
Did You Know?
…that a new home business is starting every 11 seconds in the US alone?
…that Forbes magazine predicted that the ‘Webucation’ industry would be worth over US $100 billion per year in the US alone!
…that the famous billionaire, Donald Trump has also invested in the ‘Webucation’ industry, and has started his own online university that delivers educational courses over the internet? Wouldn’t you like to be a part of this booming industry too?
…that you can be part of this multi-billion dollar industry and earn up to 75% commission on every sale?
…that you could earn $3000 to $5000 per week, or more, from the comfort of your own home?
…that you could get started today and be marketing top online home study courses before this day is over, and you don’t need any experience in sales, marketing or building websites?
What Are You Waiting For?
View a brief movie to see how you can get involved in a home business industry that is BOOMING, and take advantage of the benefits that a Home Business could offer you!
firstname.lastname@example.org Skype: mwilson217, Ph: 612 8005 1157, www.LearnMore-EarnMore.biz
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