This is not a post about taxes but it’s a post about how being a business owner can assist with reducing your taxes. How you might ask? Deductions. As a W-2 employed person you can’t take or have expenses that are tax deductible. As a business owner you can and you do. Imagine how many hours and miles you drive to get to work, as well as wear and tear on your vehicle being 100% tax deductible. There’s a way and it’s legal. The IRS wants to know if you are truly pursuing a profit and if so… you can take certain deductions. Not only mileage but so many other areas as well.
Maybe you didn’t realize that EXPENSES or having a Nspire network business expense is your obligation first Before paying taxes. Yes, a business has to pay it’s expenses first… including the needs of the CEO not wants. Will he/she need a place to live? Will he/she need supplies to do business? Will he/she need a uniform or business attire? It’s all relative to doing business and being a business owner. Want to know more? Watch this video about the “4 Thieves of personal wealth.” Click here to watch now.