When you start an MLM home-based business with a legitimate home office you qualify for many tax deductions. However, it is one of the least understood tax deductions and leaves many MLMers and small business owners confused on exactly what it is they can qualify for – more than you think when you have a home office!!!
If you qualify as a legitimate home business owner (having an O2Worldwide biz will) then you can deduct a part of all home office expenses including:
• Mortgage interest (The deduction is better as a business deduction than it is as an itemized one on your tax return)
• Rent (if you don’t own your home)
• General repairs
• Lawn care
• Homeowners insurance
• Real estate taxes
• Depreciation of your home
Having a legitimate home office can also increase your vehicle deductions significantly… Like I said at the beginning of this post, you can qualify for much more than you think!
Watch the fourth video in our short MLM Tips series on how Taxbot app and tools can save your MLM business thousands annually on all your home office tax deductions.
You can watch other MLM Tips videos in the series here.
MLM Tip #1 – Get FREE Gas for Your Car
MLM Tip #2 – Meals That Make You Money
MLM Tip #3 – Double Your Fun with Entertainment Deductions
MLM Tip #5 – Sample Your Way to Success
If you can also read my Taxbot review here:
How To Turn Your Business Expenses Into Tax Deductions With TaxBot
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