My last 3 years of employment prior to leaving Corporate America my income was the same each of these years. Two of the years I owed just over $5,000 in additional income tax, and the third year I got a $6,603 REFUND!
Nothing changed from my employment and payroll deductions, however during that third year I started a part-time home based business with a few hundred dollar investment.
That little business and all the “home based” tax deductions that come with it, caused a $12K tax swing! 🙂
I still recall the feeling I had walking out of my accountants office with my completed tax returned in hand. I felt like I had won the LOTTERY! 🙂
That began my taste for entrepreneurial life!
It was the next year, in 2010, when my corporate career ended. However, I was getting more excited about my small business from home, so I decided to walk away from a 24-year career and get serious about this entrepreneurial life. (click here to read more on that story).
Here we are eight years later, I’ve continue to tweak and improve my business and record keeping systems.
Finally, an Online Course to help you reduce your Income Taxes…
If you have an interest in decreasing how much you hand over to the government in taxes every year, you will love the tools and strategies I am going to share with you in my course!
Do you already have a home business? Are you a coach, podcaster, course creator, online trainer, in direct sales or network marketing…this course is definitely for YOU!
I created this online course to simplify your expense tracking process, ensure you maximize (or reduce) your income taxes, stay organized, and remain bullet-proof in your recording keeping.
You can enroll in this easy to implement, step-by-step course