Legitimate Home Based Businesses

Question: I’m planning on asking my grandfather to invest in my new business venture. Any advice?

I’m starting a home-based life and health insurance brokerage and I’ll also offer wealth management services. My overhead will be low, but I want to invest some start-up capital in additional training for myself, as well as marketing my business. The main concern I have is that my grandpa invested $20k in my dad’s failed business over 20 years ago, and it’s made holiday gatherings very awkward. I plan on paying back the capital I need to start ($6500), but it may take 3 years or more if the business starts more slowly than I anticipate. 1) How should I go about requesting start-up funding?; and 2) If it’s granted, how should I set up the repayment arrangement? As a loan, or should I give the investor a stake in the company? What are the legal ramifications of the latter since he is not licensed to sell life and health insurance (is it considered sharing commission if he receives income from the business)?

Answer: You should NEVER ask a family member to invest in your business. If he offers an investment, that’s a different scenario. Why would you put your grandfather in the position of having to say “No” if he is uncomfortable with investing in your venture ?

Find your capital investment funding elsewhere and leave dear old Grand Dad out of the picture unless he makes an offer to assist you.

XU Cheerdance 2008 – School of Business and Management (SBM)

Question: would the Usa vote for a Working man like me for president? www.myspace/toma365?

I want to run For 2008 President. Independant party! Normal average American. A real working man in office. No more back alley hand shake politics. No more pay offs by big business. Just your everyday hard working man doing whats best for his country. Let’s lower prices of oil by pumping it out of our own wells here in the USA. Let’ s take care of our sick, homeless, and elderly here first. socialized medicine only creates bad medical attention. let’s try a government subsidized program. Something to force insurance and medical cost down also. Let’s work on better ways to educate our children. Let’s get those troops out of Iraq and back here at home. Let’s start putting jobs back in America , and lower the amount of imported goods. There are many problems that have been promised to be fixed by politicians. It will take a working man like me to get them done. write in Thomas A. Adamczak. for Your next President.

Answer: don’t waste your time! vote Dr.Paul 2008

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Ron Paul http://www.ronpaul2008.com/
American Independence and Sovereignty
Border Security and Immigration Reform
Privacy and Personal Liberty
Property Rights and Eminent Domain
The Second Amendment

Congressman Ron Paul is the leading advocate for freedom in our nation’s capital. As a member of the U.S. House of Representatives, Dr. Paul tirelessly works for limited constitutional government, low taxes, free markets, and a return to sound monetary policies. He is known among his congressional colleagues and his constituents for his consistent voting record. Dr. Paul never votes for legislation unless the proposed measure is expressly authorized by the Constitution.In the words of former Treasury Secretary William Simon, Dr. Paul is the “one exception to the Gang of 535” on Capitol Hill.

http://www.ronpaulnation.com/tv.html…

Tax Write Offs For Your Home-Based Business

Question: Small Home Business Tax Help (Canada only)?

I started a small home based business (Avon) primarily so I could potentially save on taxes (I’m a student who needs every cent I can get).

Answer: There is no specific amount of money that u need to make in order to claim the write offs and credits. However, the guideline is that there has to be a reasonable expectation of profit, meaning that your business will probably generate income (after expenses) someday.

The fact that you are a studuent and that your goal appears to be claiming taxes and credits may make your business not having a reasosnable expectation of profit. My tax exeperiences with home based comestics and amway business indicate that these “self employed” part-time persons get reassessed to disallow their expenses by the CRA for not having reasonable expecation of profit. Periodically, the CRA has audit projects on these self-employed businesses like yours. Most ended up with their expenses disallowed, and thousand $ of comestics, or tupperware sitting in their basement (not sold). In your case, you might end up with comestics that you will use yourself for years or decades. The only person that makes money is your supplier selling you the stuff. A waste of time and money.

But dont let the above discourage you. You might have a chance to make money and therefore eligible to claim expenses if you have a good business plan, and know lots of people and friends who will be your customers.

If allowed, you can deduct any expenses to earn the income, which include cost of housing space for your office and storing your supplies, CCA of office equipment, car expenses, etc. See attached link for other expenses http://www.cra-arc.gc.ca/tx/bsnss/tpcs/slprtnr/bsnssxpnss/menu-eng.html

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