The Savings Highway, Home Based Business or Hobby? How IRS Determines Tax Savings

The Internal Revenue Service reminds all home based business operators to follow appropriate guidelines when determining whether an activity is a home based business or a hobby, an activity not engaged in for profit.

In order to educate taxpayers regarding their filing obligations, the IRS guidelines explain the rules for determining if The Savings Highway…

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The Savings Highway, Estimated Tax Savings $50,000

A good majority of people fear tax season when April 15th rolls around, but I actually look forward to it and become almost excited. The reason is not because I enjoy filling out lengthly forms and paying the government large sums of money, but because it’s only during tax time that I fully realize how much tax savings my small home based business saves me every single… Continue

US Congress enacts Home-Based Businesses Tax Savings Solutions

We are talking about tax savings laws passed by the United States Congress specifically to encourage taxpayers to actively operate a small home-based business - even on a part-time basis - with the intent to make a profit.

First, the fastest-growing business category -- for several years in a row -- has been Small Home Based Businesses. Maintaining continued expansion in that industry simply makes perfect…

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