5 Reasons You Should Start A Home Based Business Before Year End
While I will admit the holiday season can be a bit chaotic and hectic, I also believe there are special opportunities that can be found this time of year especially when it comes to starting a home-based business.
Before I dive too deep into making my case and inspiring you to start living your dreams sooner rather than later, I want to give a little disclaimer here: I am not a lawyer or CPA so this post is not meant to give any kind of legal advice. If you have business questions like whether or not you should have an LLC, DBA or how starting a business will affect your taxes you should consult with a legal expert or qualified tax accountant.
So now that we have those fun sucking legalities out of the way we can talk about the amazing advantages of having your own home-based business.
Starting a network marketing business from home has a wealth of benefits (literally) but in this article I want to cover the top 5 reasons you should start a home-based business before the end of the year.
1. Business Expenses Are Tax Deductible
Everyday expenses that you already have and are paying for like cell phone, gas, mileage, postage, meals, etc. become expenses that you can write off as business expenses when you become a business owner. Starting your business before the end of the year means you can write them off on your taxes the coming year. Again, it's important to consult with a tax expert on specifics but as a business owner, many of your expenses can now be tax deductible.
So let's say you start a business in December, you can write those expenses off when you file your taxes in just a few short months versus starting a business in February and having to wait a whole year before taking advantage of those deductions.
2. Additional Stream Of Income
Starting a business allows you to start building another stream of income (and who doesn't want more cash flow as soon as possible?!). Maybe you work a full-time job and are trying to pay off debt or you are a full-time stay at home mom looking to contribute to your family's savings or kid's college funds. How nice would it be to have an additional $500-$1000/month coming in to help with those goals?
Yes, a business takes time to build and hitting your financial goals won't happen overnight but getting started now definitely puts you closer to those goals than waiting until after the holidays are over, things slow down, you have more time and other excuses we try to sell ourselves about why waiting and not acting makes more sense.
As a wife and mom I can speak from experience that it's never the "right time" to pursue any goal. Things never feel like they slow down and you will never feel like you have more time. Life is happening whether we are fully prepared or ready. Life changing opportunities are created when we take a leap of faith, trusting that we can build our wings on the way down.
3. Early Bird Gets The Worm
As I mentioned above, there is never a good time to start something new but that is the mentality the majority of people take. We are procrastinators by nature and while many of your friends and people you know will be taking the "I will start my business after the first of the year" road, by you starting your business now gives you an advantage to begin letting people know what you are doing so they can support you, especially during the holiday season when people are looking for gift ideas. You know what they say, the early bird gets the worm.
4. Creative Outlet
Starting a home-based business before the end of the year allows you to go into the new year with a creative outlet that fuels your passion. Instead of facing January 1st mentally and emotionally hungover from the holidays and asking yourself "now what?" while you try to make out a list of half-hearted resolutions, you have something that fires you up to work on and to focus your creative spirit to kick off a new year and set meaningful goals with.
5. Personal Development
A home-based business can be instrumental in your own personal development and growth. I have learned so much about myself through my business, growing me in ways I never imagined. I have unearthed qualities about myself I never knew I had. When it comes to discovering more about ourselves and growing into who God created us to be, why put that off any longer than we have to?
So if you are thinking about starting your own home-based business I hope you will take these points I made to heart. You deserve to start living your best life now and to carry that into the new year to make it your best year ever!
I would love to connect with you over on my Bossy Beauty Facebook fan page where fun, inspiration and conversations about beauty, hair care, faith and personal development are happening daily!
(To learn more about The Bossy Beauty Tribe and starting a home-based business in a billion dollar hair care industry click HERE)