The Benefits of Operating a Home-Based Business
Operating a business from the comfort and security of your own home has many advantages. As an independent contractor you are your own boss. You set the hours and days of the week that you want to work and which suit your family requirements and lifestyle. You can more easily enjoy time with your children, parents, neighbours, and friends and “be there” for those important times in their lives.
You can choose your work environment—equipping and decorating your home office according to your own tastes and style. You avoid peak-hour traffic jams and long commutes. You can take time out to relax whenever you wish, surrounded by comfort and the people most important to you.
As the owner/operator of a well-run, home-based business you will enjoy a number of taxation advantages which you could not experience as an employee working for someone else. When you generate income from genuine home-based business activity, expenses incurred in earning that income are generally tax deductible. While you should seek detailed, professional advice from your own accountant or tax advisor on your particular circumstances, a proportion or all of the following expenses would be deductible:
• Business telephone, computer, fax, and other office equipment
• Business-related motor vehicle depreciation and operating expenses
• Business stationery, training aids, and publications
• Demonstration stock
• Professional service charges including accounting and tax return fees
Your diary entries, logbooks, and receipts will validate these deductions to the tax office.
Where a specific area of your home is exclusively set aside for business use, a relevant proportion of home ownership costs may also be allowable. These could include mortgage interest or rent payments, rates and taxes, repairs and maintenance, power and electricity, and insurance. Your professional advisor will be able to comment on relevant capital gains implications.
Your USANA business may be operated by an individual as a sole trader or in partnership with a spouse or friend. Some Associates are established as family trusts or corporations. The growing equity in your USANA business becomes an increasingly valuable asset which can even be passed on to your children.
Advantages To You:
• Own your own business
• Be your own boss
• No inventory
• Have little overhead
• Have more free time
• Set your own schedule
• Requires no employees
• Possibility of tax advantages
• Enjoy great income potential
• Avoid the commute
Thursday, 5 April 2007
Well tonight our Usana group is having phone techniques practice session. I must admit I have called a few people in the comfort of my home but in front of my team is another thing. The butterflies are on the move in my stomach, with some courage and a few pointers we will see how things go. Knowing this is a major hurdle for me to cross,with some help from my usana team it will become easier. My wife and I started the home based business in December 2006 with a 3 year plan to grow to our desired level of income. This is not the first business idea we looked at. We considered franchises and buying an existing business. Usana is certainly the most affordable to start a home based business, we new no one would hand it to us on a silver platter and say there you go. We had a team of people who we could refer to and help us along the way. We looked at the business like an apprenticship this being the first year of our apprenticeship we are very green but determined. If anything we are a little anxious we have tryed different ways of marketing almost signing up one associate. It was hard to feel all that excitement after the paperwork was formalized and then it all fall through. It felt like one step forward and three steps back. Never the less we are still here committed more than ever as our dream is to make this work for us. Turning it into reality and making our dreams come true is our goal.