Congress passed these tax laws to encourage home-based businesses because “Small business is the backbone of the American economy,” according to President George W. Bush. The average American who runs even a part-time home-based...
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Congress passed these tax laws to encourage home-based businesses because “Small business is the backbone of the American economy,” according to President George W. Bush. The average American who runs even a part-time home-based business can now qualify for more tax advantages than any other category of taxpayer,” according to Ronald R. Mueller, author of the bestseller It's How Much You KEEP, That Counts! Not how much you Make. Because 70% of the job growth is coming from small businesses, and Congress is “betting” that some of us will hit on a winner, strike it rich, and, then, pay a LOT in taxes. Of course we won't mind so much if we have to pay a lot in taxes if we're making a boatload of profits, right? You can even qualify for these deductions retroactively! Most of the tax deductions and write-offs now available to taxpayers who run a small or home-based business, also apply to the past three tax years. So if you had a home-business in any of the past three years, you could file an Amended Tax Return (Form 1040X), and possibly get a Refund Check for THOUSANDS of DOLLARS – plus interest!
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