Let’s start with a saying I hear a lot, “Tax breaks are for the rich!”
That’s not true. Tax breaks are for business owners and real estate investors. Over time, the ability to take advantage of the real estate paper tax loss you can legally take has been reduced. That is one that is often not available for the average guy.
The business tax loopholes are still there. If you don’t have a business right now, this blog post is for you.
Start a business! Tonight!
There are dozens of ideas when you google “business ideas.” Here are just a few:
Sell items you have on eBay or Craigslist.
Sell items you source through dropshipping with a website.
Write an ebook and sell it through Amazon or other digital publisher.
Write a book and sell through CreateSpace.
Write a blog and monetize it.
Set up a site to post affiliate links.
Clean up dog poop.
Take any special talent or hobby you have and turn it into a part-time business.
That’s just a few ideas right off the bat. The key, though, is to get started. In the next article, we’ll go over what it takes to prove your business is legitimate with the IRS.