Tax Benefits of a Home Based Business

Tax Benefits of a Home Based Business
If you have a home business then you need to make sure you
take advantage of all the tax breaks that are available to
you. Many home businesses are unaware of all the tax breaks
that are available to them and do not claim them on their
yearly tax return. This is unfortunate because small home
businesses more than anyone need all the tax help they can
get. The following tax benefits are just a few suggestions
every home business owner should consider claiming this tax
season.

Tip #1 Business Space

You can claim a portion of your utilities, insurance,
mortgage, and more, for your business space. As long as
there is a percentage of your home that is used solely for
business purposes then this consists of your "office." To
find out how much you can claim of the above expenses you
need to do a little math. Determine the square footage of
your home and then the square footage of your "office."
Once you know the percentage then take that amount from
your yearly mortgage payments, insurance payments,
utilities, repair, and the like. An example would be that
if you used 15% of your home as office space then 15% of
the bills associated with the home could be claimed as an
exemption on your tax return. This can result in some major
savings when tax time rolls around so be sure you
investigate what expenses relate to your business and can
be exempted.

Tip#2 Transportation Expenses

You have a car, you buy gas, and you pay for car expenses.
This can add up over a year's time so you want to make sure
you claim all uses of the vehicle for home business
purposes. This could include trips to the post office or to
buy home business supplies. It might be to pick up lunch
for clients or driving to meet potential clients. As long
as you keep a record of where you drive, how many miles it
is, and who you are meeting with then you can claim the
transportation expenses and be covered in case you are
audited.

Tip #3 Furniture

Believe it or not but you can deduct furniture as long as
it is used for business purposes. That means your desk,
tables, chairs, even a sofa used in the office space may
qualify for a deduction. Keep records of how the furniture
is used and be sure to always keep receipts for the price
of the furniture. When you claim deductions, even if they
are legal ones, you want to make sure you can cover
yourself if you are ever audited in the future.

There are actually many other tax benefits a home business
can take as long as they qualify for them. Some of these
include telephone charges, social security, computer
equipment, restaurants and hotels, and even child labor!
There are ways to reduce your tax liability each year as
long as you are savvy enough to figure them out. Sure, you
can always hire an accountant, but then you would have to
pay him. So, figure out where you stand and how you can
help your home business save money on taxes each year.

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TO learn more about tax benefits and any home based
business opportunity, please please visit our website at
http://www.homebasedbusinesst.com to learn more about our
work from home opportunities.

Residual Income Generated in Your Own Home Based Business

Residual Income Generated in Your Own Home Based Business
An income that is earned on an ongoing basis for an effort
which was done once in the past is called residual income.
Sometimes it is also known as passive income and when it
comes to your home based business effort, the idea is to
get paid over and over for doing the work one time.

This article will investigate three home based business
residual income tips to help you choose the right products
and programs to promote in your home based business.

It is better to choose residual income programs that pay
you on the efforts of others. This means that you will have
to recruit other affiliates to do selling for you. The
benefit to doing this is duplicating yourself and
multiplying your efforts without spending more of your
personal time.

If you recruit an affiliate who can spend several hours a
week promoting and you can spend some time also selling,
you now have leveraged your time spent on building a
residual income. What if you had 10 people who could spend
40 hours a week? You now have created a powerhouse creating
residual income for yourself.

One way that this has worked out over the years is in the
affiliate marketing industry. Affiliate marketing creates
residual income for you when you build a downline of
distributors (affiliates) who are buying and selling
products. With every product that is sold you earn a
commission.

Yet another excellent way to create residual income is two
tier affiliate marketing programs. Although you will not be
able to create depth in a downline distributorship like
multi level marketing, you will be able to enroll front
line affiliates and get paid on all of their efforts when
you are in a two tier affiliate marketing program.

Strong affiliate marketers can be excellent people to
recruit because they are very sales oriented. Many average
ordinary people join a network marketing business with the
idea that they can get rich.

The reality is that most people who join a network
marketing business will never sponsor anybody personally.
So, you are never able to generate a large downline of
people like this. However, if you play the numbers
eventually you will find enough frontline network marketing
distributors that will go on and build a group of their own.

The best home based business residual income tip I can
offer you is to spend your time recruiting. One way to
create residual income and duplicate yourself without
spending more time doing it is to get paid on the work of
other people. This will ensure that you will receive a
strong residual income in the future.

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Jim Suzak invites you to visit his Residual Income
Opportunity website for a world of home based business
ideas. His website is dedicated to researching home based
business opportunities that can help you start a new
business and create residual income for yourself. Learn how
you can get started today: ===>
http://www.DynamicInternetProfits.com

UK Property Predictions - Learn Where The Market is Heading in 2008

UK Property Predictions - Learn Where The Market is Heading in 2008
Do you want to know what is going to happen in the UK
property market in 2008?

This UK property predictions article endeavors to give you
an insight into what is potentially in store for property
investors and homeowners in 2008.

Firstly let's take a look at what happened in 2007 and the
early part of 2008.

The debacle of what happen in the subprime mortgage crisis
sent a shock wave through the financial World. There were
many causalities, probably the most notable to date in the
UK is Northern Rock.

Any business that relies heavily on debt and borrowed money
has been hit hard. Banks and financial institutions are
tightening the purse strings and property investors are
feeling the squeeze and many are nervously looking at other
ways to reduce the risks in their portfolio. Investors are
particularly nervous if they are coming to the end of any
fixed term mortgage agreements.

There is a good chance new mortgage rates will not be as
favourable, hence potentially taking thousands of pounds
out of the investors pocket.

Are we on the road to another recession?

Many people are looking at the property market crash of the
1990's and are wondering if we are heading down the same
route now.

The bottom line is that there is always a chance we could
be going down that same path; however, the likelihood of
this happening today is currently very slim. The reason
being that when we look at the property market of the
1990's compared to now, there are two big contributing
factors that aided the crash that aren't present today,
these are:

1. Unemployment was sharply on the rise.

2. At their peak, interest rates were almost 15%

How is capital growth going to be affected this year?

All indication are that property prices this year will be
much flatter than they have been for a long time. Indeed
we are beginning to see sequential months of the average
property prices in the UK actually going down.

However, locations such as Scotland and London are still
bucking this trend. For short-term capital growth there
are no real safe bets at the moment, but the safest of what
is on offer tends to be in Scotland and down south in
places like London.

Nonetheless, there are still location in the UK that are
potentially undervalued and should still see a slow but
steady price increase this year.

What are the facts?

While the media is predicting negative equity and zero
percent price rises this year, the truth is nobody really
knows what the future holds.

However, when it comes to UK property predictions, history
does prove one thing. It proves time and time again that
the media hasn't got a clue and is often wrong. Their job
is to sell newspapers and get people to watch their TV
program and often the most profitable way to do this is by
selling doom and gloom.

At the heart of the UK property market is the basic law of
supply and demand. So, while demand far out strips supply
then we can confidently predict that long term prices will
increase. There are other economic factors that have to be
taken into consideration, but as a general rule, this law
normally holds true. However, that is not to say that in
the short term they won't remain stagnant or even go
backwards.

The Good News.

The bank of England has recently announced it is pumping 50
billion pounds into the financial sector to try and
revitalise the mortgage market. This is an extremely
proactive and unprecedented measure to try and keep the UK
economy as stable as possible.

Now, it may take several months for property buyers to feel
the benefits of the money, but long term it should help to
ensure the economy does not end up in the same mess as it
did in the 1990's.

The Conclusion.

Even though 2008 is likely to be a volatile year for
property owners, for the astute investor who has a big cash
reserve and knows where to locate the undervalued
properties, because of less competition from other
investors who are trying to sit out the current uncertainty
in the market, this year could prove to be one of their
most profitable ever.

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Carlton Johnson is a well respect author and investor - to
learn more about where to find undervalued properties and
how to buy them cheaply visit the
http://www.investment-property-guru.com website, for all
the latest investment property tips and advice.

Save Me from Foreclosure

Save Me from Foreclosure
One of the most terrifying things that can happen to a
homeowner is foreclosure. It is a scary thought and one
that many homeowners would do anything to avoid. If you are
saying, "Save me from foreclosure!" this is the article for
you.

Before we talk about how to save you from foreclosure,
let's talk about what a foreclosure is. A foreclosure is
when the homeowner is continually missing mortgage payments
and the lender repossesses the property. It is bad enough
that you lose your home, but your credit rating gets
severely damaged. These reasons are why you should avoid
foreclosure at all costs, and here is some things to help
you do that.

The first thing you need to do when having problems paying
your mortgage is communicate with your lender, tell them
what the situation is. You may qualify for assistance or
the lender can recommend a loan that is more suited for
you. You could also work with a housing counseling agency.
HUD, or Housing and Urban Development, can recommend a good
agency in your area.

Some of your other alternatives are temporary suspension of
mortgage payments, a special repayment plan, or a mortgage
modification. Choosing which of these is right for you
depends on your financial status and will require you to
provide proof of your debt and income.

If none of these options are working for you, you can
choose to do a pre-foreclosure sale. This allows you to
sell your house for a lower amount than you have left on
your mortgage. You will of course still have to pay the
remainder of your mortgage loan, but you will be able to
save your credit rating from foreclosure.

The final option is you can pay your lender the deed of
your house to avoid foreclosure. Again, you lose your
house, but you avoid foreclosure which would seriously
affect your credit rating.

When deciding which of these options you qualify for, it is
important to talk to a professional. You should never sign
any paperwork that you do not understand and get everything
in writing.

Foreclosure can seriously hurt your credit rating and
should be avoided if at all possible. If you do any of the
options that have been listed above you should be able to
avoid foreclosure and save your credit rating. You can
successfully avoid foreclosure and stop saying, "Save me
from foreclosure!" if you are smart and choose the right
option for you.

----------------------------------------------------
James Redmond invites you to visit his best home offer
website if you are saying save me from foreclosure. If you
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Rebuilding Credit After Personal Bankruptcy

Rebuilding Credit After Personal Bankruptcy
If you've been through personal bankruptcy, you're all too
familiar with the fact that your Beacon score is shot and
the need you have to try and rebuild credit as soon as
possible. The question is: What can you do ' and how long
will it take?

Even though you've swallowed your pride and filed for
personal bankruptcy protection, that does not mean that you
will never again qualify for credit. With that said, your
credit score is in the tank for the foreseeable future, and
the best way to bring your credit life back from the brink
of death is through the responsible use of credit cards.

First, there are two basic categories of credit cards that
you're going to want to explore. Each has its pros and
cons and I'll briefly explain both so you can decide which
option makes the most sense to you ' and your financial
goals.

Unsecured credit cards ' As the name implies, unsecured
credit cards don't provide any security to the issuer that
you will make your payments. As a result, many of these
cards have annual fees ranging from $39-$150 per year as
well as extremely high interest rates and fees.

In addition, they will frequently charge a monthly
participation fee ' and most also have substantial service
charges that many other cards do not. While your initial
line of credit may be in the range of $300-$500, your
available credit will be offset by the annual fee, set up
fees, and authorized user fees.

Secured credit cards ' On the other hand, secured credit
cards offer your lender a great deal more assurance that
you'll make good on your promise to pay, because you'll be
required to open a savings account with the card issuer to
guarantee that they'll be paid in the event that you
default.

Once the account is opened, your credit card account will
operate just like a standard credit card. The only
difference is that your security deposit acts as a kind of
security blanket for your lender.

A major benefit to having a secured credit card is that you
have the security of knowing for sure that your credit card
account will be paid off in the event that you run into
further financial difficulties.

Whatever you do, don't make the mistake of thinking that
you don't need to make monthly payments to your credit card
company because you have a savings deposit to guarantee
your account. This savings deposit will only be utilized
if you default on the card.

Your credit limit will normally be equal to your savings
deposit balance, so if you have $500 on deposit, that will
be your credit limit. If you want to increase your credit
limit, it's as simple as adding to the funds you have on
deposit.

As you demonstrate your ability to make timely payments,
your credit card company will periodically review your
credit report and may grant you occasional increases in
your credit line without requiring an additional deposit.

After a period of time, usually within a year or a year and
a half, they may even be willing to return your initial
deposit and convert your secured credit card account into
an unsecured one.

Deciding which card is best for you is a very personal
decision and can best be answered by a properly analyzing
your current financial situation.

If you lack the resources to fund a savings deposit and can
stomach the idea of paying higher ongoing fees to the
credit card company, an unsecured card might be a viable
option for you. However, if you don't trust yourself to be
responsible with credit you should opt for the secured card
' or not get a card at all.

The length of time it takes to fully resurrect your credit
will depend upon a variety of factors, including how bad
your credit was before you filed for bankruptcy, your
income, and what your debt to income ratio looks like.

You should be able to get the process started as soon as
your bankruptcy has been discharged and ' depending upon
your level of responsibility ' could be well on the path to
good credit within 6-12 months.

Personal bankruptcy was intended to help you claw your way
out of debt and rebuild credit, so be exceedingly careful
as you begin heading down the road towards resurrecting
your name, Beacon score, and financial reputation.

----------------------------------------------------
Darrin Roseborsky is a Refinance Specialist with OMAC
Mortgages, seminar speaker and president of the Roseborsky
Group and HomeRefinanceCoach.com. Darrin shows people how
to MAXIMIZE their equity PROPERLY and how to choose options
that make the MOST SENSE for their situation! An example of
exactly how this works, is at:
http://www.homerefinancecoach.com

Instant Access Saving Accounts

Instant Access Saving Accounts
There are several types of savings account that you can
open in banks or other deposit-taking institutions. They
usually offer instant access savings accounts, term deposit
savings accounts, and high interest savings accounts.

Term deposits earn fixed rates of interest for the term,
generally not less than one year, and require a substantial
minimum amount to open the deposit. High interest savings
accounts earn higher rates of interest but commonly use a
variable rate, and are also very accessible mainly by
linking it to a transaction account or a separate savings
account. Although accessible, it is not unusual for high
interest savings to place restrictions on the number of
withdrawals or to require a minimum amount of deposit
during the month in order to qualify for the higher rate.

In contrast, instant access savings accounts give you the
convenience of access at any time to your deposit with the
use of an ATM card. You will have to maintain a minimum
balance on your instant access account and this may range
from a low of $50 to a high of $5000. As a savings account,
it will earn interest income, but the rate will depend on
the balance you keep in the account; it will also be lower
than the rate that is normally awarded to high interest
savings accounts.

Instant access savings accounts are commonly used as a
transaction account. If you have a high interest savings
account, it is possible for you to link this account to
your instant access savings account as the linked
transaction account.

These two accounts may be linked even if you maintain them
in different banks. However, if the two savings accounts
are deposited in the same financial institution, you will
have the advantage not only of instant access but also
instant transfer of money from your other linked account
into the instant access savings account.

Your instant access to the savings account is facilitated
mainly by an ATM card, which allows you to have 24 hour
access and maximum convenience. Aside from the ATM/EFTPOS
access, it is also possible to enjoy telephone banking and
Internet banking access.

ATM convenience is not limited to the ability to draw funds
from the ATM networks operated by your bank and other
financial institutions. When you have linked your accounts,
it will be easy for you to make payments on your credit
card through the ATMs, allowing you to save on interest
through prompt payments. Other conveniences possible with
the instant access savings accounts ATM are:

Making fund transfers to and from the linked accounts
Making cash deposits (although this is possible only on
selected ATM units) Checking the balance on your accounts

Aside from making deposits at ATMs, you may also deposit
money into your instant access savings account by:

- Having your incomes credited directly
- Transferring funds from the linked account or your other
savings accounts
- Transferring funds by telephone or Internet banking
- Sending cheque deposits by mail
- Depositing over the counter

For your everyday transactions, you may want to consider
the conveniences available to you through instant access
savings accounts.

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Richard Greenwood writes on a wide range of financial
topics including saving money tips for
http://www.high-interest-saving-account.com.au