Owning Your Own Business Can Make You Rich
When we go about our day, most of the time when we are outside our home to buy something, we don’t even think about the business itself. For example, we have a local grocery store called Weis. When I go in there, I’m there to buy what groceries we need and get out. I’m not usually thinking about who owns the store, and how much that person is profiting a year from selling groceries to the public. The same goes for Fast Food most of the time. If I’m going to KFC, I’m visiting a place of business. But normally, all I’m thinking about is which bucket am I ordering and what are my sides? Someone though owns that Franchise that I go to and is profiting from my purchase. Commerce is amazing, isn’t it? Let’s become more business-minded and start thinking about the type of business you can do to offer your services/products.
If you’re currently an employee working for someone, you as an employee are being taxed at the highest tax rate with very few tax deductions available to you unlike a business owner (even a part-time business owner) that has about twenty-eight legal tax deductions available to them! If you have a home office, parts of your electric, house gas, and sometimes insurance can be deducted. If you are only an employee, none of that is deductible. Car mileage, or the car itself, your cell phone if used for business purposes, 50% of your meals eaten out when talking to clients or prospective clients can be written off of your taxes, and so much more. Taxes are a huge part of being rich (or broke), and having a tax plan is vital.
So, start exploring what type of business would like to enjoy doing and be profitable? Online/offline, both.
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May your days be filled with good health, good friends, good food, and most of all; much love,
Dexter D Black
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