home-based business

An Excerpt from The Traveler’s Gift

I’ve been reading The Traveler’s Gift lately and there are a few excerpts that I would like to recite to all of you.  They really touched a part of me and I would like to pass them on to all of you!  I highly recommend reading the book, but here goes number one.

“The First Decision for Success – The buck stops here.

From this moment forward, I will accept responsibility for my past.  I understand that the beginning of wisdom is to accept the responsibility for my own problems and that by accepting responsibility for my past, I free myself to move into a bigger, brighter future of my own choosing.

Never again will I blame my parents, my spouse, my boss, or other employees for my present situation.  Neither my education nor lack of one, my genetics, or the circumstantial ebb and flow of everyday life will affect my future in a negative way.  If I allow myself to blame these uncontrollable forces for my lack of success, I will be forever caught in a web of the past.  I will look forward.  I will not let my history control my destiny.

The buck stops here.  I accept responsibility for my past.  I am responsible for my success.

I am where I am am today-mentally, physically, spiritually, emotionally, and financially-because of decisions I have made.  My decisions have always been governed by my thinking.  Therefore, I am where I am today-mentally, physically, spiritually, emotionally, and financially- because of how I think.  Today I will begin the process of changing where I am-mentally, physically, spiritually, emotionally, and financially- by changing the way I think.

My thoughts will be constructive, never destructive.  My mind will live in the solutions of the future.  It will not dwell in the problems of the past.  I will seek the association of those who are working and striving to bring about positive changes in the world.  I will never seek comfort by associating with those who have decided to be comfortable.

When faced with the opportunity to make a decision.  I will make one.  I understand that God did not put in me the ability to always make right decisions.  He did, however, put in me the ability to make a decision and then make it right.  The rise and fall of my emotional tide will not deter me from my course.  When I make a decision, I will stand behind it.  My energy will go into making the decision.  I will waste none on second thoughts.  My life will not be an apology.  It will be a statement.

The buck stops here.  I control my thoughts.  I control my emotions.

In the future when I am tempted to ask the question “Why me?”  I will immediately counter with the answer: “Why not me?”  Challenges are gifts, opportunities to learn.  Problems are the common thread running through the lives of great men and women.  In times of adversity, I will not have a problem to deal with; I will have a choice to make.  My thoughts will be clear.  I will make the right choice.  Adversity is preparation for greatness.  I will accept this preparation.  Why me?  Why not me?  I will be prepared for something great!

I accept responsibility for my past.  I control my thoughts.  I control my emotions.  I am responsible for my success.

The buck stops here.”

Hope this excerpt touches something in you!  It did in me!  Have a great week!

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How to Save Huge Amounts of Money on Your Taxes

It’s that time of year again, tax time; and if you don’t have a home-based business you are missing out on A LOT of money.  In the words of Sandy Botkin, in the book “Lower Your Taxes – Big Time”, the first chapter is titled: “Why You Would be Brain Dead Not to Start a Home-Based Business.”

There are really two sets of tax laws in the US, one for employees and one for small or home-based businesses.  In fact, a home-based business will provide more of an income for your family than a second part time job.  Reasons: your family income if filed jointly, will establish which tax bracket you will be in, therefore your state and federal taxes will increase.  You will also be paying social security tax on this income.  Then all the additional expenses, which aren’t tax deductible such as car expenses, child care, lunches and/or dinners out, will all start adding up.

With the correct home-based business you will have legitimate, legal tax deductions that could save you between $2,000 and $10,000 per year.

So what types of deductions will you be able to write off?  (Assuming you keep the mandatory receipts and do it correctly.)

Meals       Entertainment       Season Tickets       Spouse’s Meals       Home Entertainment          At home parties       Business Travel & Turning Vacations into an Expense      Vehicle Expenses       Mileage       Shipping Costs       Cell Phones       Training

Business use of your home such as: Mortgage,  Interest, Insurance, Utilities, Repairs, Depreciation

In addition, if your home-based business generates a loss in the first few years, you are able to use that loss against other income.

I hope I gave you a little insight into saving some of your hard earned money from “The Man.”  If you’ve ever thought of owning your own home-based business, or just pay too much to Uncle Sam, but not sure where to go from here, leave your email below and I can give you some suggestions.