Legitimate Home Based Businesses

Archive for March, 2009

Question: What is the best credit based safelist to promot my Home Based Business?

I am sick and tired of all the schemes out there that are trying to draw me in.
Online business don't seem to be what I think they are...What I really
need right now is some guidance to help me steer in the right direction
when promoting my Work at Home opportunity please tell me
I am desperate. I really want to get my network marketing going.

Answer: First avoid all the 'safelist' type services all you end up doing is advertising to people who are using the safelist to advertise there offer. A Home Based Business is not a fast track to easy cash. Its a business and should be treated like one. Any option that seems like an easy way out is probably just after your cash and will give little in the way of returns.
Really depending on how much you know about Internet marketing and Home Based Business depends on how much help/advice I can give.
But as a rule of thumb you need to work on getting targeted traffic to your site - targeted being people who already want to buy what ever it is your selling. This can be time consuming but very rewarding when it works. I could go on for hours to be honest but without knowing your level of knowledge I can't point you in the right direction.

I run a online business designed to help people find there way online, I also offer a free consultation. I have put my website in the source box and you can contact me through the Contact Us link at the bottom of the page.

My World Plus,MLM, Home Based Business, Network Marketing,

Question: I have a Home Business- need tax advise what do i do???

I have an at Home Based Business. that actually provides a beauty service. I sell no product. But I have a designated room in my home for this. i dont have a corp or llc or s corp. i just work from home doing my service., to be more specific i do eyebrow threading. its an alyernative to facial waxing. I want to know whats the best way to take advantage of deduction with this type of business. I also get alot of payment thru cash. si what should i do before tax time to get the greatest return and avoid red flags and audits.
I dont own my home i rent, i have a designated room for this purpose, & I am not in india i am in the US. usually my husband and i do joint filling with him as the sole bread winner, Iam stay at home mom. But I started this, side work and it has turned out very well for me. so hearing about all the benifits of Home Based Business, i wanted to see what i could do. would selling product be a way to legitmize my earnnings

Answer: You should always consult an account on specifics of your situation, especially if yours is a predominantly cash business where you don't have clients sending you 1099 forms showing your income. In your case, you should have sat up some form of accounting system and be tracking your income and expenses carefully. There are different methods of accounting, such as accrual-based accounting, cash-based accounting and they each have ramifications and advantages.

As far as your more general questions, renting a home doesn't knock you out of the home-office deduction. The IRS just says the room/space deducted has to be used exclusively for business. Again, an accountant can over this with you.

Bottom line: once you have a business, you should outsource your tax preparation and make sure you file quarterly taxes on your income to avoid an end-of-year penalty. There's nothing really wrong with being a sole proprietor; the main advantage to converting to an LLC or s-corp is it limits your personal liability. But again, an accountant can go over with you what your best option is.

Home Based Business Tax Deductions & Write Offs 2009, 2010.mov

Sloan's Book on NBC TV:Green Goes With Everything