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Tax Deductions
Although you don't need to be an ITI representative to take advantage of some significant savings, it is definitely more beneficial to become an ITI representative.
Here are a few of the tax deductions (only an example on estimated figures)
| Deductible
| % Deductible
| Total Spent (Yearly)
| Claimable Amount
|
| Meals
| 50%
| $1,000
| $500
|
| Entertainment
| 50%
| $800
| $400
|
| Vacations
| 50%
| $2,000
| $1,000
|
| Mileage
| 36.5 cents/mi
| 5,175
| $1,500
|
| Supplies
| 100%
| $2,000
| $2,000
|
| Medical
| 50%
| $5,500
| $2,750
|
| Wages (hire your (2) children)
| 100%
| $8,000
| $8,000
|
| Total
|
| $19,300
| $16,150
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- The amount listed under the heading "Total Spent (Yearly)" is money you are paying out anyway. The difference is that now you are converting what you've already spent into deductible dollars. This reduces the amount of income that is being taxed.
- For example, let's say you earned $40,000/year. Without a home-based business, you would be paying tax on the full amount (minus the standard deductions). But, if you own a home-based business, you would only be paying tax on $23,850 (not including the standard deductions). If for no other reason, the tax benefits make this business worthwhile!
- Owning a home-based business allows you to legally take these deductions and is approved by the U.S. Congress. The deductions listed above produce an average refund of about $5,100.00 even if you didn't make a profit. Again, you only have to pursue a profit.
- Now don't get me wrong - We're not in this business to lose money. Making a profit is as easy as saving a few people a lot of money. Contact us to find out how.
Savings available to anyone!
- Low long distance calling rates (as low as 4.25 cents/minute)
- Free 800 number
- Free Calling Cards
- Free International Calling Plan
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