Outrageous Deductions

You Could Have Taken if You Only Had a Home Business

Sure, there are the obvious: a portion of your mortgage or rent payment, the phone, the utilities, the gas and vehicle expenses, the computer, the office supplies, even the bank charges you grumble about.

Had you just spent the measly $39.95 to establish your own Watkins business during 2010 (plus your local tax – all deductible), you also could have written off the full amount you paid to “Watkinize ” your own home, the costs associated with establishing your own web site, any expenses in advertising, any samples you gave to prospective customers, even any Watkins “gifts” you gave to friends and family that had your business label on it. And the cost to print that label, of course! Other than owning your own home, tax advisors tell their clients that establishing a home business – any business – is the second most beneficial way to increase the size your tax refund. Imagine, getting tax breaks just by being your own boss!

Tax write-offs are wonderful things. Some people – like the managers of the Big Bear Country Store – look upon them as “gifts” to ourselves for all the time spent building our business during the past year. If you are looking for a home business, why not go with a proven winner. Entrepreneur Magazine named Watkins one of the top 10 home-based businesses in America. As we like to mention to individuals contemplating joining our team, “A company that has been in business for more than 140 years must be doing something right.”

So this week, as you struggle to find ways to reduce your tax obligation to Uncle Sam, we suggest you strongly consider clicking on the button below that will save you hundreds of George Washingtons when tax time rolls around next year.