Monthly Archives: February 2009

7 Fabrications That Are Causing Millions to Overpay Their Taxes

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by Karin Russell

Misrepresentations to Small Home-Based Businesses That Are Causing Millions to Overpay Their Taxes!

Misconception #1: My professional tax preparer knows everything about taxes so I don’t have to.

Truth: Professional Accountants/CPA’s and Tax Preparers are not consistently informed about ALL tax laws. These people know personal income tax laws and know how to apply them.

Your tax professional may have done everything possible to reduce your taxes. Most do not look for reductions but know how to prepare your return in their sleep. They know what numbers go on what form. They are doing a great job of preparing taxes.

Your tax preparer does a good job filling out your taxes with the figures YOU provide. Most do now ask questions in search of further deductions to reduce your taxes. Only by becoming informed about home business tax laws will you be assured of taking every deduction allowed by law.

Untruth #2: Home based business expenses can only be used if you “itemize” your return.

Truth: Whether you “itemize” or not has NO bearing on your Business. When you “itemize” your income tax you file Form A&B and take such things as medical, home mortgage interest etc. You will only “itemize” if the total of Form A is over the standard deduction (for 2008 taxes$5,450 single, $10,900 married).

Myth #3: You’re not making a profit so there is no advantage to filing business income taxes.

Truth: This is so not true! There are many tax advantages to filing a Home-Business tax return and especially so if you are not making a profit. If you also work a job, be it part-time or full time, in addition to your Home-Based business it is especially beneficial to you to file a business tax return. Expenses incurred in your business can be taken against your job income thus reducing your taxable dollar, which decreases your tax liability.

Myth #4: Because you work a full-time job your Internet Marketing Business is just a hobby.

Truth: The rules clearly state you have a business if you meet 8 rules. Four of the most important rules to meet are:

1. The knowledge of the taxpayer or his/her advisers. If you are developing a home-based business and actively learning and applying business principals to your business…you qualify.

2. The United States Federal Tax Court has ruled that 45 minutes a day, 4 to 5 days a week qualifies the Time and Effort stipulation.

3. The way you carry on your business activity. If you conduct your business mostly on the telephone, over the Internet and in-home presentations you’ll do fine. On the other hand if you do most of your business on the golf course, during lunch or at the bar you have a hobby not a business.

4. If your primary reason for having a business is to produce income instead of create tax write offs then you qualify. It does not make any difference if you actually make any profit. Just to show that you have the intent to produce a profit.

If you meet those 4 standards your business would be classified as a business not a hobby.

Misconception #5: In order to file home business taxes you must make a profit within 5 years.

Truth: The government would LIKE you to show a profit within 5 years but there is no penalty if you do not. Follow the 4 stipulations above and conduct your home business as a business and there is nothing to worry about. You are a business and some businesses do not make a profit for a number of years.

Misconception #6: It’s hard to learn how to reduce your taxes.

Truth: Average Small Business Owners have plenty of tax reduction strategies at their disposal. You just have to know what they are and how to use them.

Misconception #7: Tax documentation and accounting are not for a home business is not for the average person.

Truth: Documentation for the government is very easy if you use a pocket calendar and keep your receipts. In just 5-10 minutes a day you can have records that will withstand any government scrutiny.

About the Author:
Karin Russell has owned a small business specializing in tax preparation for home based businesses for over 3 decades. Her blog:Home Business Owners-Reap the Rewards offers more tax hints for home business owners. She highly recommends the book ‘It’s How Much You KEEP, That Counts! Not how much you Make’for all her clients.

Sell Reports To Online Business Owners And Make A Profit

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by Melissa Ingold

Many online business owners have a need for quality information, but they dont have the time to spend searching for it. In fact, they are often willing to buy this information in an effort to save valuable time and money. By creating and selling Internet marketing reports, you can and will make a profit.

From topics such as email marketing, website design, programming, online marketing, and information on auto responders, many online business owners have a need for information on these and a wide variety of topics that is both easy to access and reliable. The good news is you can realize a profit by being the one to provide that information to them.

Once you have a handle on what topics you are most comfortable with, you can then begin to research and write your reports. You can also hire freelance writers and contractors to help manage your workload. This is a great way to farm out a number of projects to maximize your profit-earning potential.

As an online business owner yourself, you know the importance of constantly generating revenue to stay ahead of the competition. That is why you will need to offer a wide variety of reports on a wide variety of topics. This way, you will be able to market yourself and the information you are selling to a vast range of online markets. Consider forming a monthly report club, where subscribers will receive a new report on a new topic each month. Exclusive members will receive a monthly report while you increase your library of report offerings to sell individually as well. Maximize your profit by selling as many reports to as many people as possible!

You may also want to consider creating an affiliate program, whereby affiliate marketers market your special reports and earn a percentage of each sale they are able to produce for you. Affiliate programs, while seemingly difficult to manage, are really quite easy to maintain and can prove to be beneficial to your business by introducing your special report offerings to a larger audience. The more visibility you gain the better chance you have of making a sale.

Remember to take the time to research each topic to ensure every report contains the most valuable and up-to-date information available, and try to offer a wide variety of topics for your customers to choose from. If you market yourself properly as a knowledgeable and capable provider of Internet marketing reports, you will quickly begin to realize a profit. Follow these helpful tips when selling special reports and take advantage of the need for the information you can provide.

About the Author:
There are many topics that people have a need to learn about and a desire to find information on. An easy way to get this information out to your market is with Private Label Reports. Every month from the Special Report Club you get a new fully-customizable 30 page report and complete marketing materials so you can start selling reports to the lucrative online business owner market right away.

How To Make A Resume – Advice

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by Cynthia Penfold

There are several approaches that you can use to learn more about how to make that winning resume. As long as these approaches are effective then you are guaranteed of being able to make a stand-out resume that will endear you to a prospective employer. There are actually two components that need to be expertly combined and therefore result in an impressive resume. Firstly you will have to learn how to format and organize your content. Secondly, you will have to provide accurate information with regard to your education, skills, past job experiences, and your career objective. When you manage to communicate these effectively, you are in a good position to land a job interview.

In the past, graduates were in the habit of getting resume advice from the placement offices in their colleges. With the advances in technology it is no longer necessary to shuttle back and forth looking for such information because the Internet has a myriad of relevant knowledge that you can access in a click. You simply have to select what you consider to be most informative and then get started. There are websites that will offer you free templates on how to make a resume. Other websites will go a step further and provide samples of actual CVs that you can peruse through to get a clear picture of what is required of you. Some sites will even ask for payment to do your resume for you; this is well and good if you have the money.

It is not necessary for you to go for those services that cost you money when you can make a winning resume on your own. You only need to remember that making a resume consists of some basic rules. Your resume is your sole communication with a potential employer, making communication as clear as possible so that they can make an informed decision about you.

Whatever you decide to do, make sure your resume is free of error. There should be no typos or grammatical mistakes. You can make sure of this by proofreading several times and also requesting someone else to go through it. When you make your resume, refrain from recording any falsified information. There is nothing more humiliating than losing your job later because you were dishonest.

The resume that you make should not be a jumbled mess of words. Let the reader have a pleasurable time going through what you have to offer. Don’t squeeze everything into a single page; use two or three when applicable.As you make the resume let it bear relevance to the job that you are targeting. Always present your case in an active voice and use bullets to highlight different successive pointers. Last but not least, be sure to submit your resume in a timely manner so that you are always in the window of opportunity.

About the Author:
Cynthia Penfold shares many tips on how to make a resume at her Resume Formats Blog

How Bad is Bankruptcy?

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by Paul J. Easton

Personal bankruptcy can be your worst nightmare. As far as debt management options are concerned, filing a bankruptcy is the last resort you have to undertake. Unless there is no more option left, filing a bankruptcy must be thoughtfully considered as it has long-lasting effects all throughout your lifetime.

Bankruptcy is a declaration of the inability of an individual to pay its creditors. Creditors may likewise file a bankruptcy petition against you in their effort to recover a percentage of what they are owed to. A restructuring plan can also be initiated. This is because, in most cases, voluntary bankruptcy is initiated by the debtor.

People in bankruptcy status follow rules where they don’t have to repay certain debts. This situation is where a court order called a discharge will be released to you.

Bankruptcy makes a mark in your credit report for 10 years. Information like the date of your filing and the later date of discharge will likely stay on your credit report and this can make your application for credit later difficult. Buying a home, getting a life insurance and even getting a job in the future can be a little tougher because of this information on your credit report.

There are two types of personal bankruptcy. The first type is the Chapter 13 Bankruptcy and the other is Chapter 7 Bankruptcy. A bankruptcy case must be filed in the federal bankruptcy court. With both types of bankruptcy, one may get rid of unsecured debts. In addition, the discharge will stop foreclosures, garnishments, repossessions, and utility shut-offs. It will likewise put off debt collection activities.

With bankruptcy, one can be allowed to keep certain assets, although the exemption amounts vary by state. Personal bankruptcy, on the other hand, does not eliminate child support, alimony, and fines. It also does not exempt one from taxes and student loan obligations.

Bankruptcy can be very traumatic as it brings along a stigma in the society. For the few, however, it remains as a way to have a fresh start for people who went through financial difficulty and thus were not able to satisfy their debts.

For more information on financial directory, get FREE Articles Tips at DollarGuides.com. Get debt-free today with tips on how to get rid of debt here. Start improving your personal finance today.

About the Author:
How to get Rid of Credit Card Debt Fast with FREE Articles Tips at DollarGuides.com. Help tips and more plus Credit Card Debt Information

Mahalakshmi (Laxmi) Mantra & Shri Yantra – Wealth Giving

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Om Shreem Hreem Shreem Kamale Kamalaleyi Praseed Praseed Om Shreem Hreem Shreem Mahalaxmiyei Namaha
(Various ways ways to spell the Sanskrit transliteration)

My very rough translation:
Underlying Vibration of all creation, abundance please, cherishing your lotus feet, be pleased Great Laxmi Goddess, I bow to You.

The audio is by Shri Anandi Ma and Dileepji from the CD “Mantras For Abundance” published by Sounds True.
The audio is available at Shri Anandi Ma’s group’s website www.dyc.org, or directly from Sounds True at www.soundstrue.com (Thanks to purna24 for info)

27 Repetitions (Repeat 4 times for 108 rounds = 1 mala = 40 minutes)
*Morning is the best time to chant, especially after bathing. But in the evening before dinner, or 3 hours after dinner is ok too.
**Once you learn it by heart, just practice on a mala, especially a lotus seed one, and it will take around 30+/- minutes to do 1 mala a day.

*If you recite this mantra daily 108 times financial worries, trouble will go away.
**Daily worship of this mantra helps in attaining Siddhi. *Siddhi is typically defined as “a magical or spiritual power for the control of self, others and the forces of nature.”

“Also to solve your financial worries, experience its wonder within 90 days. Proved to be very effective. Bestows you with lot of money and wealth from unexpected source. [Especially when using with either the Shree or Lakshmi/Laxmi Yantra]

“‘Shree Yantra’ – Shree meaning wealth and Yantra – Meaning ‘Instrument’ -

“Look into the center of the Yantra, trying to blink as rarely as possible; you don’t want to look at the particular details of the Yantra, just keep your sight right in the center and observe the whole Yantra at once.

“In time, after at least seven days of Yantra meditation you will be able to tap into the same yantric energy even without a Yantra (at the beginning you may fix your sight on an exterior or imaginary point or evoke the Yantra with your eyes closed).

“In superior phases the Yantra absorbs the practitioner’s complete attention, and he can no longer tell if the Yantra is within himself or if he is within the Yantra; this is the state of non-duality.”

http://hinduism.about.com/library/weekly/aa021103d.htm

The Lakshmi Mantra is being chanted by Shri Anandi Ma and Dileepji .

Shri Anandi Ma … travel[s] extensively in India, the United States and Europe, conducting meditation programs and yoga retreats. … As part of her role as Shri Dhyanyogi’s spiritual heir, Shri Anandi Ma has also assumed the responsibility for continuing the humanitarian works begun during Shri Dhyanyogi’s lifetime. These include operating a hospital, sponsoring eye surgery camps, and providing food for the poor. In all these works, she continues to spread the love and light of her lineage and of her beloved sadaguru, Shri Dhyanyogi Madhusudandas.

For more info on Anandi Ma:

http://www.dyc.org/

Selling Out & Property Rights

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SOMETHING I FORGOT TO MENTION IN THE VIDEO:

Vote Obama. The Libertarian Party has sold us out by nominating Bob Barr, a man whose voting record is about as libertarian as Hitler’s.

- He voted YES on barring transporting minors to get an abortion.

- Voted YES on banning gay adoptions.

- Supports anti-flag desecration amendment.

- Voted YES on making federal death penalty appeals harder.

- Voted YES on more prosecution and sentencing for juvenile crime.

- Voted NO on funding for alternative sentencing instead of more prisons.

- Voted YES on military border patrols to battle drugs & terrorism.

- Voted YES on requiring states to test students.

- Supports a Constitutional Amendment for school prayer.

- Sponsored bill banning lawsuits against gun manufacturers. (I agree such lawsuits are frivolous, but banning lawsuits of any kind is un-American and anti-freedom.)

- Voted YES on banning physician-assisted suicide.

- Sponsored bill declaring English the US’ official language.

- Is evil.

http://www.ontheissues.org/Bob_Barr.htm for more.

Search and get Free Stuff

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by Samantha Asher

Do you use search engines? If you are reading this article online, the answer is probably yes. In fact, you probably use a search engine almost everyday. Most people who use computers do searches.

When you make a search online, what happens? That’s simple, you get a list of sites that are related to the term or terms you searched for. Ideally, you find what you were looking for. Wouldn’t it be great if you could win free stuff at the same time?

Most likely you don’t win free stuff when you are searching. That’s too bad because you could be. It’s as simple as searching the web for whatever you needed and winning some free stuff simultaneously.

You can do this through a program called Swag Bucks. Once you join and start searching, you have a chance to win a Swag Buck each time you search. If you search everyday, you can win at least once a day, usually twice, and as many as three times in one day.

Also, you can win between 1 and 5 on most days for each search, but as many as 10 or even 100 on Megabuck Fridays. In addition, if you visit their blog or twitter feed frequently, you can find Swag codes which also give a free buck or two.

So where’s the free stuff? Some sites win you points to get you into drawings. Swag bucks can be exchanged for actual cool stuff such as gift cards from Fandango, QVC, Barnes and Noble, Amazon.com, iTunes, Target, Lowes, and more. Or, you could exchange them for great electronics, video games, posters, trading cards, and memorabilia.

All the gift cards come in different denominations from $5 to $500. For example, Amazon $5 gift cards cost just 45 Swag Bucks. Order 10 at once and you get sent a $50 dollar Amazon gift card. Most of the gift cards are emailed as codes which you can enter in online just like a regular gift card.

You can get more than just gift cards. They have a huge selection of video games and you can even win a game console. Look through their electronics section and you’ll see video cameras, digital cameras, printers, tvs, stereos, and more. Sign up and start earning.

About the Author:
You really can win free stuff through your searches. check out the link and get started. Start your searches and win your free swag right away!

The Truth About Bad Credit Mortgage Loans

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by Roger Dawkins

If you have bad credit you likely believe that you will never be able to qualify for a mortgage loan. Luckily for you there are several options for people to qualify for a bad credit mortgage loan. So don’t be disheartened and give up. When it comes to loans, persistence pays off in a big way.

If you are one of the people who doesn’t initially qualify for a bad credit mortgage loan it is time to look at a few of the steps necessary. The first step when you have been denied a mortgage loan is that you need to get a credit report.

Since most people with a credit score of 500 do not qualify for even a bad credit mortgage loan we need to fix our score. If you fit in this category then you are likely in luck as the steps are not that hard to get a score above 600.

First you have to get your credit report. You can usually get a free one from any mortgage broker. Mortgage brokers aren’t credit specialists by trade but since they need to look at it to try and give you a loan they are a great free source of credit info.

Once you have your report look at it and see why your score is so low. Most of the time it is because you have been delinquent on several credit cards. In some cases it is due to you defaulting on some credit cards or other debt payments.

When your main penalties are because of late payments you can easily fix it. Just call your credit card company and find out how long you need to pay on time to get the penalty removed.

Once you know the info you need to make your payments on time. Over the course of a few months you can bump up your credit score quite a bit. You then want to go back to your mortgage broker and see if you qualify for a bad credit mortgage loan.

If you still do not qualify then talk to your mortgage broker on what other options you have. A lot of brokerages have special programs set up to give you a bad credit mortgage loan. Yes, the fees can be high but you will be able to get your home and once your credit is fixed you can get lower fees.

About the Author:
Roger shows people how mortgage loans with bad credit can be found and about what needs to be done to qualify for the different types of home loans bad credit.

Make Money Online With Youtube – Make $500 A Day – Watch Proof (Home Based Business)

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http://AustMarketing.com

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