Keep Your Home Business a Tax Chomping Machine
CRITICAL STEPS TO MAINTAINING BUSINESS STATUS WITH THE IRS
By: Sandy Botkin, C.P.A.
So, you finally decided to start your own part-time home business. You have gathered sufficient inventory and equipment to run it. You have a marketing plan of attack to make lots of money, and all you need to do to keep the IRS off your back is save all receipts, right? WRONG!!
One of the IRS’s favorite weapons is to treat a home business as a hobby, not as a legitimate business. Even if you have all the receipts in the world, classification of your endeavor as a hobby will limit your “business” deductions to the income from the activity. If the deductions exceed your activity’s income, the excess is completely eliminated! Read more
Doing It For Yourself: How Don Lapre Made Me A Fortune Without Knowing It!
Do you remember Don Lapre? If you watched TV at 3 o’clock in the morning during the 1990s, I’m sure you do. Some people still call him “The King of Infomercials.” In the 90s, he ran many infomercials, night after night, talking about how he became rich by placing “tiny classified ads” out of his one bedroom apartment. And, for just $39.95, or something like that, he would show you exactly how you could do the same thing.
His product also included details on how anyone could easily make loads of cash by operating 1-900 numbers. And, on every infomercial, over and over again, he’d discuss the idea of pulling incredible profits from your very own 1-900 number. Read more
How Improper Use of Language In Your Sales Copy Can Hurt Your Bottom line
It isn’t, perhaps, entirely fair, but it is a fact of human nature that a person’s ability with language is the first thing that others will use, even subconsciously, to judge someone else’s intelligence. You could be a world renowned, Nobel prize winning, particle physicist, holding multiple PhDs, and if you use very poor grammar, when first meeting someone, their initial impression will be that you are a person of limited intellect. And, first impressions are important! That’s just the way it is.
This is why the use of proper grammar and good spelling is of immense importance when writing your sales copy. When a potential customer is reading your copy they are forming an opinion of the person supplying the product that the copy is selling. If your grammar and spelling are poor, the image they form is going to be of a person of meager intelligence. And, if they think you’re not intelligent, they aren’t going to trust what you have to say. Read more
Start Your Own Car Tune-Up Business
This business idea is one of those recession-proof opportunities that can put you on “easy street.” When the economy heats up and inflation increases the cost of living, people become “do-it-yourself” conscious, looking for ways to save money. Whenever the economy falters, people again are searching for methods of saving money and making what they already own last longer.
The marketing principles outlined within this report emphasize the money-making potential of an independent auto tune-up shop in any part of the country. One of the secrets of success in this business is the specialization. No longer do auto owners expect their neighborhood service station to keep their cars tuned-up and running smoothly.
Drastically Increase Your Profits by Not Chasing After The Same Nickel as Everyone Else!
Have you ever seen the movie “Donnie Brasco”? It’s a great Mafia movie - I highly recommend it.
In that film, there’s a scene where a group of characters are discussing their difficulties in earning any sort of real money. One of the characters finally says something to the effect of: “The problem is this city. Up here, you’ve got five hundred Wiseguys all chasing after the same nickel!”
Hmm… sounds a lot like the internet marketing game!
One of the main problems that a lot of marketers face, especially newcomers to the field, is that there are quite literally thousands of marketers all chasing after the same nickel. The reason for this is that there are an awful lot of marketers out there, and not nearly as many product developers. So, for every unique product that comes along offering re-sale rights, you’re sure to most often find a veritable army of marketers all promoting it. They’re all trying to sell the same product - they’re all chasing after the same nickel. Read more
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