Around the time I stopped fighting with my parents and began listening to them, my dad imparted some brilliant financial advice. He told me to become a scholar of the tax law. OK, perhaps he didn’t use those exact words, but the message was the same: Know the tax law and take every tax deduction to which you are entitled.

This advice stuck with me, and I’m certain it has saved me thousands of dollars.

As a Home-based business Owner the IRS gives you a great set of instructions for “How Too” use the tax laws to your advantage.

The IRS website offers excellent resources to help you understand the tax deductions and credits.

 

The greatest Home-based Business Option is the W4 Program.

This allows you to take less taxes from your check and apply them to starting and financing a business.

In other words, if you get paid weekly and your paycheck normally takes out $250 in taxes and you use the W4 Program to cut you taxes by $200. You would put that $200 dollars in your pocket to help in the startup and monthly business expenses. This means you are not using the original amount of your check.

By spending a few hours each year keeping up with the ways to leverage your taxes could save you thousands on taxes over the years. In fact, keeping a tax-reduction mindset in your everyday life will serve your finances well.

To learn more about “How Too” Eliminate Income Tax – Click Here to visit the article on What is a W4 Form