I want to talk about the fact that you can't afford not to be in a home based
business. So why would I say that you can't afford not to be in home based
This blog is specifically especially for people who are employed. So if you're employed and you have a normal job, the reality is that very often, tax deductions alone will be more than the initial investment you need to make to get started in home based business, in the network marketing business. So typically, in UK to start in a network marketing company will cost you anywhere from 100 to maybe 400 or 500 pounds. And some people say, “Oh, I can’t afford that, I can’t spend 200 300 400 pounds to start a network marketing business, but what you don't understand that when you employed, the Queen gets paid first.
So you don't even access your money before the government took the taxes off it. So you work all month, then the time comes for you to get paid and the Queen says, “I'll take the 20% first, and then you can have whatever is left.” That's the reality of an employee. So you get paid only the after tax money and then you can go ahead and buy whatever you need to buy with after tax money, which is normal. That's the way it works, but that's not how it works in a business. When you are self employed. When you are self employed, you get paid first, then you spend money for your expenses and you only pay the tax on what's left, you get what I'm saying. So you actually get to spend money before tax and only pay tax on things that is not your business expense.
Even though I'm not qualified accountant or anything like that, obviously, you need to seek advice from a qualified accountant the way generally works, especially in the first few years when you start your own business, because you not making so much money, but you still go into trainings, and you still buying books and you’re still maybe using some advertising and things like that. All of those things are business expenses. But because you haven't made much money yet, what happens is you actually get refunds from the tax, you’re paying in your job. How cool is that?
Very often the tax deductions that you get are outweighing the actual initial investment that you made to start your home based business and now you're actually able to use a lot of your expenses that usually would have to just pay from your own after tax money. Now you can claim those things as a business expense because once you start a home based business, guess what?
Your home becomes part of the business, your mobile bill becomes part of the business, your computer becomes part of the business and so on and so on and so on so many things that you would normally have to as an employee would have to buy with your after tax money, as a self-employed home based business owner, you start buying these things with before tax money because they become your tax deductions, which is quite awesome.
So do look into it more, do ask a qualified accountant, do ask a qualified tax advisor to tell you all the benefits of starting your own home based business even if it's a part time business while you still have your full time job very often that part time business can help you to pay less tax even in your full time job, which is pretty awesome if you asked me as basically free money.
That’s my training and tip for you. Hope you got value some value in this blog post, if you did, feel free to share it with other people. If you would like more amazing trainings check out “Network Marketing Success Training” group http://titaniumsuccess.co.uk/successtraining.php. There are 10 amazing lessons in this training course that will help you get the breakthrough in your business!
Yours in success
In : Personal Development
Tags: you have to be in