not just for retirement, home based business
Hi folks, I'm new here and was reading some threads. I wanted to comment on home based business. Did you know that you can pay your children a reasonable wage for them to work for you, cleaning, filing, modeling etc. I dont have kids so I dont know the exact ammount, but it is around $5000 a year per child. Of course you dont have to actually let them HAVE the money , but use it for school clothes and supplies, braces, etc, thus these items become free to you. I have a home based business and have been able to add sq. footage to my house for an office, tax free (big enough for a bedroom). I have added value to my house if I ever want to sell it. I happen to have a product that is a health and wellness product that I drink myself, I do not reatil it and need to have a monthly product order to qualify for comission so I can also deduct my own personal product use. Many home based businesses are considered "pyrimid schemes" and any way you try to diagram the pay plan it WILL look like a triangle, so call it what you will. I am living proof that you CAN make a good income and have GREAT tax advantages (including traveling) with one of these businesses. There IS a lot of junk out there but there are also some really FINE 1st class companies. This has worked so well for me and I kick myself for not researching and getting involved in a home based business years ago. My skeptisisim kept me from earing my full potential. I am glad I finally woke up!