Take Your Business Online | The World is Waiting for What You Have to Offer

Grant Edward Rayner B.Comm., LL.B.

The business world is changing.  If you don't have an online presence, the danger is that many of your competitors do and, if you don't have a platform online, the odds are you're going to get left behind.  How do I know?  Ten years ago, when I would ask a potential client how they found me, they'd say 'oh my brother-in-law had you as his lawyer five years ago. He told me to look you up.'  

In today's world, however, when I ask a potential client how they found me, very typically, the response is "I Googled 'lawyers in New Brunswick'".  If you recognize that this is an emerging trend in business read on.

In the online world, content is king.  Learn how to attract customers to your product or service.  The world is waiting for what you have to offer.  The caveat though is that you can waste a lot of time and money figuring it all out.  Get the training you need to be successful!  Let us teach you how to take your brick 'n mortar business to the next level.  Just click on the banner below to learn more.

WORK FROM HOME WITH COACHGRANT - TAX ADVANTAGES of HOME BASED BUSINESS

WORK FROM HOME WITH COACHGRANT - TAX ADVANTAGES of HOME BASED BUSINESS 

 Ever thought about work from home?  When you start up a home based business you can work from the comfort of your own home and, in most if not all, North American and other common law jurisdictions you have the ability to write various expenses off of other sources of your gross annual income.  That ability can lead to hundreds, perhaps even thousands of dollars, in income tax savings every year.

*** What follows is not financial or tax advice.  It is material that is provided for information purposes only, is not intended to be relied upon in your specific situation and does not constitute a lawyer-client relationship. *** 

This article sets out a general illustration of some basic tax principles that may be available to your home based business depending on your circumstances and locale.  For the specifics on how federal, state or provincial tax laws apply in your set of circumstances, you must check with your own accountant or tax lawyer.   

There are two general categories of expenses associated with work from home that may be deductible from other income (i.e. employment income).

Home office expenses:    If you work from home, you can generally write off a percentage of your home office expense based on the floor space of your home office in relation to the total square footage of your home.   There may be exceptions or limitations.   But what this means, for example, is that you may then write  off 10%, for example, of the interest expense of your mortgage and perhaps even your total  municipal tax bill from other income.    The cost of your home insurance, monthly utilities expenses (phone, heat, hydro, telephone, internet), as well as home maintenance expenses!  And, of course, the supplies you consume in your home based business (depreciation on items like your office furnishings and desktop computer, cartidges, paper, pens and other supplies, your cell phone bill as well) can be written off of other income.  I am sure most of you can quickly see that the opportunity to deduct a percentage of these expenses from your income can result in a significant income tax saving for you on an annual basis.  This ability can be extremely important in the first, or start-up, year and can minimize the financial, or 'after-tax' impact of the start-up.

Automobile expenses:   You may also have the ability to write off a percentage of the operating costs of running your automobile from other income.   That simply means you can deduct the business-use portion of the costs of fuel, car insurance, maintenance, depreciation, lease payments or the interest costs of the car loan!  These tax savings can be immediately available to you when you start to operate a home based business.

There are usually limitations or exceptions depending on where you live. In most jurisdictions, you will be deemed to use your car for some personal use at least a percentage of the time meaning that you cannot deduct the total cost of operating your car from other income.   You may have to record the mileage that applies to business use as the basis for the deduction.  Of course, once again, you need to check this with an accountant in your area for the specifics on what the tax-savings can mean for you in your home state or province.

Now the tax savings are really ancillary to your business opportunity itself.. the icing on the cake so to speak.  But...if you are thinking about starting a business you can operate from your home, your start-up costs can be minimized on an 'after-tax' basis and are therefore less than your initial actual cash outlay when you factor in the tax-savings that you can access simply by virtue of the fact that you are now self-employed.  And these tax savings are available to you even if you start part-time.

Do not forget to consult with an accountant or tax lawyer to determine how the tax laws in your jurisdiction may apply in your particular set of circumstances!

Learn how to generate a five figure monthly income from the comfort of your own home.  Click on the link below.  

WEALTHY AFFILIATE

To Your Infinite and Unlimited Success,

Grant Edward Rayner B.Comm., LL.B. 

BELIEVE and Achieve   

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WORK FROM HOME WITH COACHGRANT - THE TIDE IS COMING BACK

WORK FROM HOME WITH COACHGRANT

THE TIDE IS COMING BACK

     A friend told me a story about an executive that had an interesting print hanging in his office.  It depicted a large rowboat stranded on a beach.  Two oars rested gently in the sand, with the ocean at low tide twenty or thirty feet behind it.  The boat looked too heavy to drag, too big to move.  It was just stuck there in the sand.

The picture wasn't a thing of beauty.  It wasn't inspiring.  In fact, it was depressing.  Here was this boat created for the water, a very nice boat made to dance on top of the ocean waves, stuck in the sand.  But at the very bottom of the picture was a small caption that gave meaning to the otherwise unremarkable picture.  It read:  'The tide always comes back.'

With that simple caption, the picture took on a whole new meaning:  When the tide returned, that stranded boat would once again find it's purpose.  It would return to the place it was meant to be.

My friend told me that the executive once had gone through a great disappointment.  He didn't think he would ever be happy again.  Then he saw the painting at a small antique store and bought it for just a few dollars.  Every time he looked at it, he said to himself, 'the tide is coming back.'

That print spoke faith into his heart.  The caption gave him hope that things would change in his favor.  You may find yourself in a similar situation.  Stuck. Stranded. Robbed of your purpose.  Things may not be going your way.  You've lost your energy and enthusiasm.  Heed those words:  'The tide is coming back.'

Hear my message.  God is breathing new life into your dreams.  You will feel the wind of His spirit lift your sails once again.  You are not meant to simply endure life.  Barely getting by is not acceptable.  You were meant to dance on top of the waves.

Tell yourself each and every day:  'The tide is coming back.  Today is the day!  I am closer than I think!'

Remember that it is always darkest before dawn.  More challenges mean you are closer to your victory.  Don't give up on your dream.  Don't give up your relationship because the waters get rough.  Don't give up on living a healthy life because illness brings you down.  Times may grow tough, but remember there are rewards for staying in faith.

God promises your payday is on it's way.  If you'll learn to be a prisoner of hope and get up every day expecting God's favor, you'll see God do amazing things.  You'll overcome every obstacle.  You'll defeat every enemy.  And I believe and declare you'll see every dream, every promise God has put into your heart, come to pass.

from Joel Osteen, It's Your Time, Free Press, New York, 2009, pp. 15-16.

Are you tired of the 9 to 5?  Is it time for a change?  Times are getting tough.  If you have ever thought that there has to be something better, I'm here to tell you that there can be something better.  Discover how to earn from home.  Start your own home based business.  Just click on the link below.  

WEALTHY AFFILIATE

To Your Unlimited Success,

Grant Edward Rayner B.Comm., LL.B. (coachgrant) 

BELIEVE and Achieve 

Free Business Success Coaching:  Join my Facebook Group at the link below:

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