How To Start A Home Based Business (With Pocket Change) And Make Money Fast

Start A Home Business And Get In The Black The Next DayThis is that wonderful time of year when the frost starts to thaw, flowers begin to bloom and everyone is either doing their taxes, finishing them,or fretting about said taxes. And possibly contemplating a revolution.It’s no secret that in today’s economy, countless numbers of people are tying t find ways to make more money and quickly. The best way to make money fast is by starting a home based business; therefore it might come as a shock to some when I say it is possible to profit immediately when you start a home based business simply by applying some techniques to shield more of your hard-earned income from taxes instead keep it in your pockets.However, I was taken aback at how many people who start a home based business don’t take full advantage of the assets that this sort of opportunity presents. In fact, the minute you start a home based business opportunity, you become privy to a number of benefits you didn’t have available before. Even if you’re not making any money in your business, if you apply proper techniques available to a business owner, you will be saving money you otherwise would parted with to Uncle Sam. ( Or whatever uncle is in charge of your respective government. )But maybe not as manyNow when you elect to start a home based business there are of course some elements you need to examine first:
The type of business: is it something you can succeed in, and believe you can enjoy?
What kinds of new skills will you need to develop for this business, and will you have either someone or a quality system to help you develop those skills necessary to thrive?
What is the leadership like of the home based business opportunity you decide to join? What is their reputation?
Research the history of the company and whether other people are finding success with whatever system or endeavor you decide to explore. There are an incredible number of “programs” on the internet that promise one they can work 15 minutes a day and bank huge amounts for doing nothing. Be careful when you come across these types of opportunities because the majority are affiliate products designed to make money for the person marketing the program, not necessarily for the buyer. Some of them may work, when it comes time for you to start a home based business you just need to do your due diligence.
A quick note for when you’re doing your research about starting a home based business: when you research a business and find the word “scam” frequently appear in the search engines, don’t let this immediately deter you: continue to do your due diligence and explore why exactly someone is saying that opportunity is a “scam”. the reason is many marketers target other businesses, hoping to leach traffic off one opportunity onto their own by catching people’s attention who don’t know better. In the old days, one could trust what they found on the internet; you have to be much more careful now. Measure once, cut twice, that is the carpenter’s rule of thumb and one you should heed when you decide to start a home based business. You want to be able to enter with confidence and excitement.One caveat before I proceed: everything that follows is simply a suggestion and I highly suggest you stay within your limits and do not exaggerate any of your tax deductions. The IRS is hurting right now just as many citizens are- and would just love for you to finagle with your taxes and invite an audit. ( In fact, there is an entire departments of the IRS that have been mobilized over the last couple of years simply to pore over older tax records in the hope of finding past discrepancies that they can then fine someone for.) So don’t invite the wolf in and you should be fine.He’ll come and knock on your door…Start a Home Based Business and Profit ImmediatelySome of the items you can profit from once you start a home based business:Office rent-This is one everyone should know and use but I’m including it because like I mentioned before, a lot of people overlook these benefits. Even if you’re using a spare bedroom, you can take your office space and ( the size of the bedroom or a percentage of your house-don’t go overboard with this and claim like ” All of my house is an office because I work in every part of it!” or anything, this won’t fly with the IRS. There are ways to use tax laws to your advantage but not abuse them. )Typically you can deduct somewhere around $1.75 per square foot, so if you have an office that is only 120 square feet, you can deduct around $210. But that’s every month.Computer-You are allowed to write off around $25,000 annually for equipment and business assets, so a new computer, printer, fax, modem, etc. all fit into this category.Health Insurance- medical, dental, and even disability. Smart.Start-Up Expenses and Marketing- business cards, the expenses of joining, and if you enter into network marketing,( one of the best forms of home based business) you can even deduct the PRODUCT as well.Meals-you have to eat right? And sometimes have business lunches. A word of caution with this one: don’t overuse it by claiming an inordinate amount of meals eaten were business related. When traveling one can only write off 50 % of meal costs as well.Telephone- this is only related to a separate business line, not your regular home phone; but you can write that second line off, along with internet too.Auto -It is important to keep good records with this one, but when you start a home based business you are allowed an monthly auto allowance according to how many miles each month the car is driven. Right now I believe it is allowable to around 50 cents/mile currently for all miles you’ve used that go toward business purposes. It is up to you to determine exactly what those are, -but can include meetings, meals, and…Travel- one can deduct half their meals, plus lodging and transportation. Foreign travel is a bit different, but basically is three quarters of the trip is spent on business, you are good to go.Subscriptions-these of course have to be related to your type of business- magazines, business clubs, and even college courses can be deductible if they fit the right description, meaning they can further your business.Retirement plans-This one could be an article unto itself, so perhaps it is best saved for another time. But basically refers to setting up and contributing to a tax beneficial 401k or IRA.Other benefits include a cafeteria plan, dependent care, and if you elect to start a corporation ( which you can do for less than 500 bucks and as little as 145) you can also get a lower tax rate for your business and the income you generate through it. )So the lower tax rate and many of the other benefits one can apply from the moment they start a home business even part time are obviously a huge boon. If your business is more mature, you may want to look into an S or LLC. It’s wise to consult with someone that knows your situation for any final decision, because ultimately you want your corporation to work for you.Start A Home Business And Never Lose.Starting a successful home venture consists of 2 aspects, and while you can find plenty more on my site about the various ways to achieve this- they are…1) Cash flow2) Leads- which are basically people interested in your business, no matter what your particular business consists of.

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Small Business Finance – Finding the Right Mix of Debt and Equity

Financing a small business can be most time consuming activity for a business owner. It can be the most important part of growing a business, but one must be careful not to allow it to consume the business. Finance is the relationship between cash, risk and value. Manage each well and you will have healthy finance mix for your business.Develop a business plan and loan package that has a well developed strategic plan, which in turn relates to realistic and believable financials. Before you can finance a business, a project, an expansion or an acquisition, you must develop precisely what your finance needs are.Finance your business from a position of strength. As a business owner you show your confidence in the business by investing up to ten percent of your finance needs from your own coffers. The remaining twenty to thirty percent of your cash needs can come from private investors or venture capital. Remember, sweat equity is expected, but it is not a replacement for cash.Depending on the valuation of your business and the risk involved, the private equity component will want on average a thirty to forty percent equity stake in your company for three to five years. Giving up this equity position in your company, yet maintaining clear majority ownership, will give you leverage in the remaining sixty percent of your finance needs.The remaining finance can come in the form of long term debt, short term working capital, equipment finance and inventory finance. By having a strong cash position in your company, a variety of lenders will be available to you. It is advisable to hire an experienced commercial loan broker to do the finance “shopping” for you and present you with a variety of options. It is important at this juncture that you obtain finance that fits your business needs and structures, instead of trying to force your structure into a financial instrument not ideally suited for your operations.Having a strong cash position in your company, the additional debt financing will not put an undue strain on your cash flow. Sixty percent debt is a healthy. Debt finance can come in the form of unsecured finance, such as short-term debt, line of credit financing and long term debt. Unsecured debt is typically called cash flow finance and requires credit worthiness. Debt finance can also come in the form of secured or asset based finance, which can include accounts receivable, inventory, equipment, real estate, personal assets, letter of credit, and government guaranteed finance. A customized mix of unsecured and secured debt, designed specifically around your company’s financial needs, is the advantage of having a strong cash position.The cash flow statement is an important financial in tracking the effects of certain types of finance. It is critical to have a firm handle on your monthly cash flow, along with the control and planning structure of a financial budget, to successfully plan and monitor your company’s finance.Your finance plan is a result and part of your strategic planning process. You need to be careful in matching your cash needs with your cash goals. Using short term capital for long term growth and vice versa is a no-no. Violating the matching rule can bring about high risk levels in the interest rate, re-finance possibilities and operational independence. Some deviation from this age old rule is permissible. For instance, if you have a long term need for working capital, then a permanent capital need may be warranted. Another good finance strategy is having contingency capital on hand for freeing up your working capital needs and providing maximum flexibility. For example, you can use a line of credit to get into an opportunity that quickly arises and then arrange for cheaper, better suited, long term finance subsequently, planning all of this upfront with a lender.Unfortunately finance is not typically addressed until a company is in crisis. Plan ahead with an effective business plan and loan package. Equity finance does not stress cash flow as debt can and gives lenders confidence to do business with your company. Good financial structuring reduces the costs of capital and the finance risks. Consider using a business consultant, finance professional or loan broker to help you with your finance plan.

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10 Authentic Ideas for Your Own Online Business

Remember pet rocks? I am sure a lot of you don’t. Back in 1975 Gary Dahl came up with the idea of a pet rock (a pet that was easy to take care of) and became an instant millionaire! Just think of what he would have done if he could have taken his pet rock online!Billions of people worldwide are now using the internet and that number will continue to grow. Online spending is increasing rapidly and according to Forrester Research will increase 62% by the year 2016. Many small businesses with no online presence will cease to exist.If you are thinking of starting an online business, you have many options from which to choose. Below are ten authentic ideas for your own online business.1. eBooks – Selling digital products of all kinds can be a very lucrative business. eBooks have exploded in popularity over the last few years and will continue to do so. Digital store websites will take your orders and deliver them automatically. With ebooks, there is no need to continually restock your products. One ebook sells many times over. This can be a 100% online business.2. Proofreading Services – Many businesses will gladly pay you to proofread all their documents. Many people miss their own mistakes so they need a fresh pair of eyes to find their errors. You can be those eyes! You can also add editing to your services as well. Once you find the mistakes, you can then get paid to correct them. Professional proofreaders and editors either charge by the word, page, hour or project. This would totally be up to you. You also want to set a minimum price for small jobs.3. Freelance Writer – Bloggers, ezine publishers, magazines, newspapers, etc., are constantly searching for good content for their readers and visitors. You do not have to be a college graduate to become a freelance writer. As long as you can write grammatically correct, helpful, interesting content, you can sell your services. By providing well-written content to all these different companies, you can build a lucrative business.4. Unique Products – If you are creative enough to have discovered your own unique product then selling it online could be the catalyst to your success. You can develop your own online store or you can sell your product via online marketplaces such as Amazon. Using such sites might be a good starting point but be sure to look into developing your own online store.5. Virtual Assistant (VA) – A virtual assistant is a professional who provides administrative, creative and/or technical help to another business. The skills of a VA are usually widespread and similar to an office manager. VA’s can perform many duties including managing appointments, setting up meetings, customer spreadsheets, billing, newsletters, customer inquiries, etc. The list is virtually endless!6. Online Event Planner – Start your own online event planning business by helping other businesses plan and promote their online events. These events could include webinars, online classes, online networking events, online fundraisers, etc.7. Website/Graphic Designer – Designing websites and/or graphics can be a lucrative career but you must be skilled in the appropriate programs. Be sure you know the ins and outs of web and/or graphic design before jumping into this business.8. Freelance Researcher – Many businesses need information, facts, statistics, etc. but are unable to do all the time-consuming research themselves. Offer your services at a good price. Take the time to find all the facts needed. Present them in a professional manner and build a reputation as a good solid researcher.9. Flipping Websites – You know about flipping houses but have you considered that flipping websites can be lucrative as well. Look for websites that are low in price and have potential for success. Tweak them for maximum success and make a high profit.10. Webhost Reseller – Many of the big webhosts offer reseller opportunity. You purchase hosting space from them and resell them to your own customers. This is similar to reselling ebooks. Your income would be recurring as people will continuously pay for their hosting. This can add up to big profits!There are many ways to earn a good living online but be sure to do your research on each one you are considering. Take the time to make a plan and know what you are getting into. Above all else, know this: Building a business (online or offline) requires a great deal of commitment, work and time. Keep this in mind as you are starting and building your business.You will be frustrated at times, overwhelmed and feel like throwing in the towel. Work through those feelings. Remind yourself why you started your own business. It always helped me to think of my family, which is the reason I wanted to work from home. Turn those feelings into determination and commit to becoming a success!

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