When you  start your “Home Based Business” in 2011,
you can deduct up to $5000 in start up costs!

Incredible Government Stimulus For the “USA”!

The “IRS” will pay you up to $5,000 of initial start-
up costs of a home-based business!

Uncle Sam will help pay for you to start your business with Skinny
Body Care!

The Stimulus ENDS THIS YEAR!

So, if you are waiting until January to come on as a
Skinny Body Care distributor, this is the reason
you DON’T want to do that!

Become a Promoter of Skinny Body Care
and you are eligible for these tax benefits.

>Click here< to become a Skinny Body Care Distributor.  Fill out the Form and then click on Join!

Q. How are deductions for the start up of a home
based business normally deducted?

A. Normally, costs incurred during the START-UP
PHASE of a business are deductible over a 15 year
period (i.e. each $1,500 in start-up costs would be
deducted at a rate of $100 per year for 15 years).
[IRC Sec 195(c)(1)(A)]

But there is a “Special Deduction” for 2011!

Any taxpayer who begins operation of a new business
in 2011, may deduct ALL start-up costs (up to $5,000
maximum) on their 2011 tax returns – no need to
spread the deduction over a 15 year period.  [IRC Sec 195(b)]

EX. $5,000 in Start-Up Cost deductions, for a person
in a 28% “tax bracket”, would generate a $1,400 tax  Refund.

If Start-Up Cost deductions exceed the amount of
money earned this year in the home-based business
itself, most or all of the additional deductions may
be applied against any other source of income such
as a W-2 job, which could possibly even drop the
taxpayer into a lower tax bracket.

This one-time write off provision in the tax law is
valid only during 2011, and therefore will set to
expire permanently at midnight, December 31, 2011.

Even IF Congress reinstates this provision in 2012,
a business begun after Jan. 1, 2012 will not be able
to claim those deductions until April 2013 – when
2012 “Tax Returns” are filed.

Not activating a new home-based business by December
31, 2011, will delay “tax-deductions” for Start-Up Costs by at least 15 months.

What are “Start-Up Costs”?

The term includes business related costs you incur
prior to actually beginning to offer goods or
services for sale – i.e., the costs of getting ready
to open your business. They are generally the same
types of expenses that will be called “business
“operating costs” once you are actually operating a
business. [IRC Sec 195(c)(1)(B)]

The start up period starts when you begin THINKING
about a home based business.  You were thinking
about, and researching, and perhaps even taking the
products as a customer.  All through 2011 you were
thinking about starting a home based business, so
you can deduct start up costs for expenses all year.

What are some examples of tax-deductible “start-up
costs”? [IRC Sec 195(c)(1)(a)]

A. Seminars, Workshops, Courses and Books on how to
run the business. Investigating or Researching one
or more business opportunities. Travel for meetings,
conventions or interviews or to obtain education
from experts. Telephone and cellular phone costs
related to new business start-up. Office supplies
and some business tools (briefcase, “iPad”, business
cards, etc.). DOES NOT INCLUDE vehicles, furniture,
computers and other depreciable assets. [IRC Sec 167(a)]

Exceptions:  Money spent qualifying to begin a
certain type of business, general are not
deductible. This includes getting a degree,
obtaining a license to practice (doctors, real
estate…), etc.

The IRS “default setting” for start-up expenses is
to deem that the taxpayer made a decision to
amortize the amounts over a 15 year period. [Reg Sec
1, 195-1T(b)] To claim your deductions immediately,
do the following:

1.Use IRS Form 4562 (“Depreciation and
Amortization”) to claim your start-up expenses

2. Attach an “election statement” to your tax
return, stating specifically that you wish to claim
all (or the first $5,000) of your Start-Up “Expenses”
in 2011, “the year in which your business became active”.

Start-Up Expenses are deductible in the year in
which the business begins active operation, so if
the business you are investigating never gets off
the ground, you will not get any deductions. [IRC Sec. 165]

You have to show that you actually attempted to
profit from your business. Just buying your Skinny
Fiber and sitting on your laurels does not qualify!

You just need to promote your websites, you can even
do it on Facebook!

DISCLAIMER : I am in NO WAY a tax professional ~
just a Home Business professional who LOVES to file
her taxes because of the massive deductions having a
home based business allows us!  This information was
shared with me – and thus I am passing it on to you.

You are responsible for properly filing your taxes
to deduct your start up expenses ~ but if you do it
properly, you may see an extra $1400 less owed to
the IRS for 2011!

Become a Promoter of Skinny Body Care and you are eligible for these tax
benefits.

>Click here< to become a Skinny Body Care Distributor.  Fill out the Form and then click on Join!

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