If you are one of the many people looking for legit home based businesses because you’re just not satisfied or simply burned out with the 9 to 5 corporate grind and looking for away out, then you are in the right place at the right time.Can you imagine a work life that has the potential to earn six figures plus a year all from the comfort of your own home?· Imagine what your life would be like without a boss that doesn’t deserve to tell you what to do because you can run circles around them.· Imagine what your life would be like without a company that under appreciates your efforts.· Imagine what your life would be like if you had more time freedom to pursue your interests and hobby’s.· Imagine what your life would be like without daily commutes to and from the company office.· Imagine what your life would be like without a mountain of debt.· Imagine what your life would be like if you could make money working from any place in the world.· Imagine what your life would be like if you had financial independence.You get the picture.This was my struggle for to many years of my corporate career but all that changed when I met Jay and his very talented group of entrepreneurs.Together with his mastermind group they developed a very powerful marketing and education resourced based system that has revolutionized the home business industry.Jay wasn’t born with a silver spoon in his mouth. In fact he started from very humble beginnings working 50-60 hours a week as a muffler salesman making $50 – $70 thousand dollars a year before he became the success he is today.In fact my friend Jay failed for years struggling to build his home business before he finally succeeded at connecting all of the dots.Through years of trial & error Jay discovered the key to duplicating success in his team using the same system that made him $143,220.00 after his tenth month of putting it all together and that’s how it all began for him.For me learning how to build a business using a proven step-by-step system without having to recreate the wheel all over again has made all the difference between failure and success.If you want to save yourself years of frustration trying to learn how to build a successful home business on your own, then I highly recommend finding a legit home based business model that offers an education resourced based system.Trying to find a legit home based business model that offers an education resourced based, step-by-step marketing system on the internet today is like looking for a needle in a haystack.But, it’s worth the effort because when you do find a proven training and turnkey marketing system, it can shorten your learning curve to months making money for you quickly and saving you years of frustration trying to build a home based business on your own.If you’re like I was and you’re seriously looking for a way out of the corporate jungle, taking control of your life, looking for financial independence, having freedom of time to do what you want when you want, and living a lifestyle of your dreams, then I definitely want to help you.Click on any of my live links below to learn more.
A Guide on Successful Product Creation and Internet Marketing
Product creation in Internet marketing is getting stiffer and stiffer nowadays owing to tough competition between Internet-based businesses. Putting up a new product requires plenty of brainpower and finances along with an ability to take risk. With that, even if you have the product well-set already, you have to position it strategically in the Internet landscape for others to notice. You should get the interest of Web users and turn them to actual customers. Aside from the usual physical products, many different products that thrive well on Internet marketing include E-books, membership sites, and video lectures.
The long and difficult process of product creation begins with ideas. They are easy to get – compared to the effort that comes with analyzing the market for that idea. Before the idea turns to a product, businesses often spend money, even amounting to millions of dollars, to ensure the success of the new product that emerges from an idea. Businesses undertake many types of market research and surveys before releasing their products to the public. Now, you may think that because your business is small, you can’t afford research or you don’t have to do research; you can and you should. The Internet allows you to disseminate materials needed for your market study to many people at once without your having to spend a cent.
It is a common maxim in business: Look at your destination first before mapping out your journey. So what are the goals you intend to accomplish with your product creation ventures? The everyday travails of your business may make you forget the end in sight. On the other hand, prepare to entertain new developments that come to your mind in your product creation. Your conception of a product may have started this way, but a few tweaks here and there along with some market research results and it ends up another way. Take it as the result of a creative process, not as a failure to reach your goal. After all, your product creation activities are intertwined with a long-term goal that you should strive to sustain at your utmost: profit generation. So if your less profitable initial idea evolves to a more profitable product, be thankful!
With your product made up already, start doing some aggressive Internet marketing. A product purchase typically comes after more than five times a customer is exposed to an informative call-to-buy message. Thus it is important to get the contact details, like the e-mail address, of potential customers who are on the brink of a sale. Use the results of your market research to determine the demographics to which you should concentrate your marketing efforts.
With consistent product creation, you can make an inventory of your products that you can market in due time. Just keep making products – the moment you succeed in making and marketing a product, customers are surely wanting more from you, so give it to them. Keep them on your side through constant product creation.
Property Management, Investment Property Tax Deductions, and Strategies for Real Estate Pros
The cost of hiring a property management company to handle investment properties is significantly less than most property owners believe. Investment property owners who manage their own property with the idea that property management costs are too much might be mistaken as to the actual real costs. Additionally, a large percentage of property owners do not take advantage of all of the tax strategies available to them. For example, if a property owner manages their investment portfolio out of their home office there may be some business related items they are not expensing. Interest in all forms including mortgage interest, equity lines of credit interest, and any business loan interest are all expenses which are typically deductible. Losses like casualties, disasters, and thefts are expenses which properly accounted for are deductible. The most overlooked deduction is depreciation on investment properties, and for real estate professionals as defined by IRC 179, an investment property owner can supercharge their depreciation deductions. To maximize one’s return on investment each property owner should educate themselves about tax strategies, and thoroughly evaluate their entire tax planning roadmap with a tax attorney or competent certified public accountant.
Combined Tax Bracket Percentage Determines the True Cost of an Expense in Your Investment Property Business
First of all a property owner must fully understand this basic concept. If their annual income from all of their activities placed them into the combined, federal, state, and local tax bracket of 50%, then their ordinary and necessary business expenses are in actuality fifty cents ($.50) for every one dollar ($1.00) spent. It’s simple to think about it this way: If a one dollar ($1.00) is spent on advertising then that one dollar ($1.00) is legally expensed. If a person is in the 50% combined tax bracket then they have actually only spent fifty cents ($.50). This is because the one dollar ($1.00) they spent actually reduces their taxable income by one dollar, thus, reducing their tax liability by fifty cents ($.50). So each ordinary and necessary expense is truly only 50% of the actual cost.
Now that you have your mind around that concept if a property manager is charging you $200/month to manage their single-family residence rental property the actual (end of year) cost to the owner is only $100/month because the property management fees are an ordinary and necessary business expense and fully deductible. Now consider that 50% reduction in your perceived cost and maybe property management doesn’t seem so expensive anymore. Add to that the impact on your time, energy, effort you spend managing that property. Add to that the gasoline expense necessary to drive by that property once or twice a month. Finally, add to that the comfort of knowing a professional property manager could in fact be taking care of your property and you wouldn’t have to have all of these expenses, time, energy and effort and maybe, just maybe, you would reconsider using a property manager going forward because you now realize that they really aren’t that expensive for the services they provide.
Home Office Deductions are Tricky, but can be Legitimate
If a home office is used 100% for ordinary and necessary business reasons then there is no reason a person shouldn’t be taking advantage of expensing the home office square footage, the equipment, the materials, the supplies and any utilities paid to help operate the office. The problem lies when the home office is used for personal reasons because it is difficult to prove what percentage of the home office is actually an ordinary and necessary business expense. There are many Internal Revenue decisions on this vary issue, and each one shows the difficulty in achieving the correct balance between business and personal expense, and more importantly, being able to prove it in an audit. If you are considering running your property management business out of your home office be careful. Although there are a lot of legitimate expenses which are clearly available to you, there are several that are not.
Interest Expense is Sometime Overlooked
When you are evaluating your interest expenses do not forget to expense any interest from your home equity line of credit as this can be easily overlooked. Also, if you have a small business loan that interest is deductible as well.
Disaster, Theft Losses are Deductible
In the event that a loss occurred during your business cycle those expenses are deductible provided you had a good record of the items that were lost. There would almost always be an offset as well for any insurance reimbursements, but the point here is that losses must be fully evaluated while you are preparing your tax strategies.
Depreciation and the Real Estate Professional Internal Revenue Code
When planned correctly the “non-cash” expense of depreciating one’s rental property can be the difference in paying taxes or realizing the benefit of a tax-loss. Most residential investment properties are depreciated over 27.5 year period. Commercial property is depreciated over 39 years. However, if a person were to be classified as a “Real Estate Professional” pursuant to Internal Revenue Code 179, then the benefits of owning investment property become much greater. Without going into great detail a real estate professional’s own personal property portfolio is treated differently than a typical investor. If this is enticing enough one should investigate the benefits of this little known exception in the IRC and real estate industry.
Contact a Competent Tax Attorney or Certified Public Account to Review All of Your Current Tax Strategies and any Planning Going Forward with Your Investment Properties
The information contained in this article is by no means tax advice, but merely some ideas to contemplate the next time you consider your tax situation. Every person who owns a rental property business should consider tax planning and tax strategies with a competent professional specializing in tax. There are numerous legal ways to take full advantage of tax laws and your professional status within the property management context, however these decisions need to be considered carefully with a tax professional.