How To Find The Money To Fund Your Home Business
- Date: 2007-04-04 - Word Count: 337
Share This!
One of the most common objections heard when trying to recruit someone into a home-based-business is "I don't Have the money to invest." Depending on where you are in the discussion, you may have determined that this prospect either is not interested in your particular business, or is simply searching for excuses not to take any risks in life.
If that's the case, now may be the time to abandon your recruiting efforts. However, if the prospect seems to be genuinely interested and has the desire to take the next step, there are ways to fund a home-based-business without impacting their current budget.
The easiest method applies to those that are currently working an outside job and pay income taxes. Congress has passed laws specifically designed to encourage entrepreneurship and home-based-business, and they include immediate tax relief for these enterprising individuals. You can't use these laws just as a way to reduce your tax burden. In the event of an audit, you must be prepared to prove that you're actually working the business four to five days a week for an hour a day.
The laws allow you to estimate your business expenses and adjust your W-4 form to increase your take-home pay, which you will use to fund your ventures. The savings typically range from $4000 to $7000 per year - that's a minimum of $16 per workday (based on a 5-day workweek and a two-week annual vacation).
That amount is more than enough to fund most home-based-business, if you stay away from big-ticket items that promise great riches for little effort and systems that require you to buy huge inventories of product to sell to your friends and neighbors.
Funding your home-based-business is crucial to your success. No commercial venture can be profitable without investing some money to get started. While most of your investment should be your time and effort, there will always be some sort of financial obligation involved. The money is there if you know where to look!
*Note - the tax information presented applies to U.S. taxpayers only.
If that's the case, now may be the time to abandon your recruiting efforts. However, if the prospect seems to be genuinely interested and has the desire to take the next step, there are ways to fund a home-based-business without impacting their current budget.
The easiest method applies to those that are currently working an outside job and pay income taxes. Congress has passed laws specifically designed to encourage entrepreneurship and home-based-business, and they include immediate tax relief for these enterprising individuals. You can't use these laws just as a way to reduce your tax burden. In the event of an audit, you must be prepared to prove that you're actually working the business four to five days a week for an hour a day.
The laws allow you to estimate your business expenses and adjust your W-4 form to increase your take-home pay, which you will use to fund your ventures. The savings typically range from $4000 to $7000 per year - that's a minimum of $16 per workday (based on a 5-day workweek and a two-week annual vacation).
That amount is more than enough to fund most home-based-business, if you stay away from big-ticket items that promise great riches for little effort and systems that require you to buy huge inventories of product to sell to your friends and neighbors.
Funding your home-based-business is crucial to your success. No commercial venture can be profitable without investing some money to get started. While most of your investment should be your time and effort, there will always be some sort of financial obligation involved. The money is there if you know where to look!
*Note - the tax information presented applies to U.S. taxpayers only.
Related Tags: startup business, income taxes, business funding, tax relief, business budget
Bill Cox is an entrepreneur and Network Marketing consultant. His company, Eclipse Advanced Communications, LLC was formed specifically for the purpose of teaching beginning and frustrated Network Marketers how to build a sustainable, resilient marketing organization.wcox1.successuniversity.com/New_a_Slim.aspx?PgID=12&GrpID=4&Type=1& Your Article Search Directory : Find in Articles
Recent articles in this category:
- Advantages Of A Grind And Brew Coffee Maker
Should you really invest in a Grind and Brew Espresso maker? The answer is yes, having a Grind and B - Monitium. A Paradigm Shift In Network Marketing
As you may have heard, Monitium is representing a huge paradigm shift in Network Marketing. It is in - 55+ And Scared. The First In A Series On Making A Second Income
You've worked all these years looking forward to the day when you could retire. Now you are able to - Considering Starting A Home Based Business On The Internet?
I'm someone who has trouble working for someone else. I really hate long periods of routine and I ha - Is Herbalife Network Marketing Business A Scam?
You are on this site because you are thinking if Herbalife is a scam or not. Well you have come to t - So Why Are People Calling Herbalife Mlm Venture A Gimmick?
The people calling Herbalife a scam are usually the folks that were involve in the business before b - Mlm Training - Free Mlm Training Courses
We'll begin by dealing with the old saying "You get what you pay for". This implies that free things - Mlm Training - What Mlm Training Do You Really Need?
MLM and Network Marketing can be a very confusing business. That's mostly because there are low entr - The Top Mlm Recruiting Strategy: Mlm Recruiting For Top Earners - Mlm Recruiting Success
When it comes to MLM recruiting, there's a right way and a wrong way. But, most people only know the - Adzzoo Review - How Could This Improve The Page Rank Of Small Entrepreneurs?
There are so many network marketing companies online and let us see about one of them and their prod
Most viewed articles in this category:
- Work at Home Mom - How to Find Time for Your Business
Any work-at-home-mom will confess that owing her own business is as challenging as it gets. While th - Is A Home Daycare The Answer For You?
In America today, it takes two incomes in most cases to live a regular middle class lifestyle. This - MLM Online Tips and Tricks on the Internet MLM Trade
Copyright © Jagraj Gill http://www.payitforward4profits.com/jaggiegill There are two main th - How Do You Win At Home-Based Business? Hit The Floor Running
Every morning in Africa, a gazelle wakes up. It knows it must run faster than the fastest lion... or - MySpace Just for Fun
There are many who take advantage of the MySpace community for business purposes such as advertising - Gone Phishing and your the fish!
Believe it or not, there are rascals inhabiting this very planet, their consequence emanates from un - Is A Home Business Right For You?
You should have motivation if you want to succeed as an entrepreneur. Motivation comes naturally to - How to Promote your Network Marketing Home Based Business
Copyright © Jagraj Gill http://www.payitforward4profits.com/jaggiegill The key to any networ - The Tax Grind
As an owner of a home based business, a person is also responsible for keeping track of everything t - Meeting People on MySpace
The process of meeting people on MySpace is extremely easy. MySpace is an online community which enc