Save on taxes... employ your children

Do you pay a regular allowance to any of your children? Stop now. Employ your children to work for your home business and reduce your tax liability by paying them a tax-free salary.

Don’t do any more work on your tax return until you have read the new Complete Guide to Tax and Expenses. It could save lots of money for anyone starting a business, working from home or running a home business.

Most of the information will be of value to you throughout the year. There is guidance on the financial advantages of different types of business (Limited Company, Partnership, Sole Trader etc).

You will also read about VAT registration, acceptable levels of business expenses, book-keeping methods and other essential topics for smaller and home-based businesses.

But before you submit your tax return, there are some really important things you need to know, such as:

• How you will be fined if you fail to inform the tax man as soon as you start trading – even on the smallest scale.
• The best way to calculate and claim business expenses for the costs of using part of your home.
• Why you should employ your children and spouse to work for your home business.

Avoid unnecessary taxes by reading the 2010 COMPLETE GUIDE to Tax and Expenses for Home-Based Businesses. The guide is available free of charge in PDF format to Home Business Network members only. Membership is also FREE.

• Already a member? Login to the website and then go to the Download section to get your free copy of the COMPLETE GUIDE.
• Not a member yet? Join now to get your COMPLETE GUIDE. Membership is FREE. You just have to register.

PS: As a member you can also download the FREE COMPLETE GUIDE to Legal Requirements for Home-Based Businesses.