Are You An Innocent Victim of These Popular Myths?

Written by Karin Workman


Misconceptions, misinterpretations and just plain “untruths” are floating about income taxes. Believing them could be costing thousands of tax dollars!

Myth: A Professional Tax Preparer knows all there is to know about taxes so you don't have to know anything them.

Truth: Tax Preparer's/CPA's/Accountants are not uniformly informed about ALL tax laws. Most are able to file a personal income tax and know allrepparttar laws and how to apply them to personal income tax.

There are thousands of excellent, hard-working accountants doing a great job. And if you use a tax professional, maybe they have done everything possible to reduce your taxes. But many professional tax preparers are just tax preparers.

They may know how to prepare a tax return in their sleep. They know what numbers go on which form. But that's about all they know.

A good tax preparer is not trained in tax reduction strategies.

The only way you are assured to getrepparttar 101649 tax deductions you are entitled to, as a Home-Based Business Owner, is to become informed yourself.

Myth: You must "itemize" in order to take Home-Based Business expenses.

Truth: Many people misunderstandrepparttar 101650 terminology here.

When you "itemize" your income tax you file Form A&B and take such things as medical, home mortgage interest etc. You will only "itemize" ifrepparttar 101651 total of Form A is overrepparttar 101652 standard deduction (for 2003 taxes…$4,700 single, $9,500 married)

Some people call this filing "long form."

All taxpayers haverepparttar 101653 opportunity to itemize if it is to their advantage.

Whether you "itemize" or not has NO bearing on your Business.

Myth: You're not making a profit so there is no advantage to filing business income taxes.

Truth: This is so not true! There's many tax advantages to filing a Home-Business tax return and especially so if you are not making a profit. If you also work a job, be it part-time or full time, in addition to your Home-Based business it is especially beneficial to you to file a business tax return.

Expenses incurred in your business can be taken against your job income thus reducing your taxable dollar, which decreases your tax liability.

Myth: Because you work a full-time job your Internet Marketing Business is just a hobby.

Truth: Only another Internet Marketer can truly understandrepparttar 101654 hours and money spent on what someone else would call a "hobby"!

The rules clearly state you have a business if you meet 8 rules. Four ofrepparttar 101655 most important rules to meet are:

1. Expertise ofrepparttar 101656 taxpayer or his/her advisors. That would mean your expertise in Internet Marketing or those who advise you. If you're learning and actively applying what you learn to your Internet Marketing activities and have a good "handle" on this…you qualify.

The Art of Forgiving

Written by Rick Yost


Have you ever sat down on a big rock by a flowing stream, hung your head and cried like a baby? Me neither but heyrepparttar days not over yet! Sometimes in life we get hit hard and fast. Maybe by a friend, a lover, spouse, neighbor or just a complete stranger. When that event does take place, it hurts, hurts so bad we see red. Our chests feel like a heavy weight has been dropped on it,repparttar 101648 tears just want to burst from our eyes. We want to kick and scream or just curl up and die! Then of course we have to deal withrepparttar 101649 depressive states,repparttar 101650 anger states. Did we deal with them or are they still there, buried in whatever way we've always dealt with our hurts and pains. Did we forgive and move on or is that little something still there waiting to spring to life again to continue dissolvingrepparttar 101651 happiness we all deserve. Oh, you are happy! Then why does a certain something, a smell, a name, a color, whatever, bring back that tight feeling. That tear torepparttar 101652 corner of your eye or that angry look in your jaw? We all have been hurt and we've all hurt others. But that's life, it will continue that way right torepparttar 101653 day we lay down forrepparttar 101654 big one. We're not responsible for other people's feelings, only our own. Unless of course we've hurt someone else but that's another article. Right now we have to deal withrepparttar 101655 thing that's eating our life away.

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