<h2 class = 'uawtitle'>Are You Self-employed Or Wanting To Launch Your Own Company To Make Additional Income?</h2><br />
<div style='font-style:italic;' class='uawbyline'>by Rick Hart</div><br /><br />
<div class='uawarticle'>In the present day's tough economy a lot of folks are thinking about finding an extra way to make money. This could be an easy 2nd job or maybe, if you've got some entrepreneurial leanings, perhaps beginning your own company.<br />
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There's tons of things you can start a business about nowadays. You might consider...<br />
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- Pet services<br />
- Home repair<br />
- An internet business (there's many decisions here)<br />
- Scrap booking<br />
- Tutoring<br />
- Virtual Aid<br />
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Actually there's many decisions depending on your skill base and needs. We will rap about other alternatives in subsequent articles.<br />
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One of the first things you want to think about if you'd like to have your own business, is what are the tax implications?<br />
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For many it means you will be collecting your own taxes if you have got a business that needs to charge tax. But even if you don't you will have to pay your own taxes to Uncle Sam at the close of the year. That means you wish to get thinking about those tax consequences. <br />
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It's All Good </b><br />
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One of the very best things about having your own business is much of your costs will be deductible. That means they'll be took from your net cash and you'll have less of earnings to pay tax on. This may be a great thing or a pain if you do not have good record keeping.<br />
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Start Another Checking Account For Your Business<br />
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One of the simplest and best things which you can do is to open another checking account for your new company. Pay all costs with this account and deposit all income to this checking account. This is going to make it far easier to keep an eye on your earnings and liabilities. If you're business is an easy one, you may not even need an accountant to help keep track. But I do counsel you consider an <a href="http://www.accountantclearwater.com/">accountant</a>. They can be invaluable when tax time comes around and unless you've already got a good handle on bookkeeping, you might find a good accountant will save you lots of cash over the long run.<br />
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Here's why...<br />
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There are many deductions that you may not be aware of. For instance, if you manage your business out of your home, you might be able to subtract some of your home's costs. This mean mortgage, interest, resources, and repairs. <br />
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But use caution. The IRS looks closely at home businesses to make sure the repayments are on the up-and-up. The last thing you need to worry about is being audited. Again, this is a sound excuse to consider consulting with a good accountant.<br />
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But there really is real money to be made with your own part time business. And if things work out, and you find you like not working for somebody else, maybe you can take your business full-time and kiss that manager good bye. Now I don't mean literally.<br />
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<div style='font-style:italic;' class='uawabout'><br />
About the Author:<br />
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<div class='uawlinks'>Rick Hart is an online business expert. He provides selling tools for <a href="http://www.accountantclearwater.com/">Clearwater accountants</a> who provide t<a href="http://www.accountantclearwater.com/tax-preparation-season-how-to-get-ready-in-advance">ax advice,</a> book-keeping and business management consulting. </div><br />
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New Unique Article!<br />
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Title: Are You Self-employed Or Wanting To Launch Your Own Company To Make Additional Income?<br />
Author: Rick Hart<br />
Email: dirasu.879948.0@articlesamurai.com<br />
Keywords: clearwater accountant,accounting,accountant<br />
Word Count: 512<br />
Category: Home Based Business<br />
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