One of the most important, yet overlooked, advantages of having your own home based business is the tax advantages it affords you. IRS guidelines allow you to deduct business expenses from the revenue you generate BOTH from your new home based business AND you’re the other income you generate.Most business do not generate a net profit in their first few years. In other words, by the time the business owner pays for his office rent, start-up costs, inventory, samples, utilities, payroll, transportation expenses, inventory, insurance, etc. there is no money left over for profit. This is normal in a start-up business. The idea of course is that as the business grows it will generate a profit for the owners. But in the beginning it’s all expense and not much– if any — profit. The IRS recognizes this fact, and therefore allows the business to deduct these normal expenses from their revenue before any such revenue is considered taxable.The same rules apply to network marketing business. The best part is that many of items that the government recognizes as legitimate business expenses for your new home based business are things that you are currently spending anyway – but without getting any tax deductions. Part of you automobile expenses, a portion of your home that you use to operate your home based business, part of your utilities, “samples” of products or services that are sold by your network marketing business but that are consumed by you and your family are just a few examples of legitimate tax deductions the government allows you to take if you operate a network marketing company in which you “intend” to eventually make a profit. In the meantime, while your expenses exceed the amount of revenue you are generating from your new home based business, the tax deductions can be deducted from your regular W-2 income from your full time job.So start a network marketing business – and start paying less taxes to the government for everything else that you do. Always consult a tax professional for the details of what is legal and what may be stretching the law too far. But don’t overlook the considerable advantages every home based business owner is entitled to. This is how people make rapid cash. They get to keep more of their money from the IRS.

More and more Baby Boomers are being forced out of the work force due to companies having to cut back. They are let go so that the company does not have to eventually pay them retirement. In their place, a younger generation is hired at a much cheaper salary. These Baby Boomers are left high and dry usually having to fend for themselves unless they have properly prepared for their retirement.If you are a Baby Boomer and this has happened to you, you may be asking; “Can a Baby Boomer Become Successful in a Home Based Business”? My answer to you is; absolutely! This is a period of time that the world is turning away from a “brick and mortar” business to a “click and Order” business. The old adage of having to have a local mom and pop storefront is a thing of the past. With over 80% of the world connected by the internet, now is the prime time to have a home based business.Most Baby Boomers have a stronger desire and work ethic than the younger generation. Their life trials have taught them that having a strong work ethic is an important character. By being older, their time to make the necessary income in order to sustain them for their retirement years is much shorter. Baby Boomers are more likely to “show up” for their home based business. Let’s face it; there is more at stake for them. Their desire and work ethic is what will make the Baby Boomer successful.The selection of the home based business opportunity is vital. One must be selected that offers the necessary training and support. Along with this training and support, the front and back end products should be something that they will feel comfortable with and believe in selling. The product can be something that they have personally used or heard of before. The product brand is an important link to the successfulness of the business. By marketing a product or service that is well known and established increases the chances of success.Baby Boomers need to realize that there is a drastic learning curve of owning a home based business. Unless they were active in the marketing or public relations department of their previous company, most will have no clue. The internet is a wonderful invention, but without the proper understanding and training about how it really works, can prove to be dangerous. Understanding how to use the power of the internet to promote their home based business is crucial.When selecting your business, do your research. Does the company offer training calls and webinars? Is there a support system in place? Does the support system have actual trained professionals answering questions? Are there archived training webinars and lessons on marketing? All these questions are important and there will more than likely be more.Baby Boomers can be successful in home based businesses. Most companies have to insure your success which further benefits them. With the right frame of mind and attitude, you can be successful.

Many are struggling in the crazy economy. There so many who don’t know what will happen next. When they say it’s getting better for some it seems to get worse. Individuals are being fired, laid-off and just told we can’t continue to keep our doors open without customers. The question that many are asking is what can anyone do to survive. I think that we must all come together. It’s a matter of our existence as humans. If we don’t come together we will all fall. Recently, I notice a growing trend, people joining home based businesses to make a few extra dollars. Some have made more than just a few extra dollars, they are making a living. They have replaced their 9 to 5 for the home life and an income. Is this possible for anyone or is it just for a few fortunate people being in the right place at the right time. I believe that if people would come together and trust one another this can become a reality for them. I really think that a new approach or home business model may work better than some of those in the past. For example, instead of joining one home based business as a individual try joining one as a group. What I’m saying is working together in one home based business may reduce failure and the home business fatality rate.Research has shown that 90% of the people who start a home based business fail within the first year. What I’m saying is that I noticed I can see the growing trend of people joining home based businesses as well as people failing over the first year. The trend of failing could be because of the old approach. That approach go something like this, one person joins a business then he tries to recruit 3 or 4 friends that don’t have any money to get in. Then the person that join looses money due to the monthly products he had to buy and the lack of members in his home business. I believe that in a good economy or a bad economy if we look at things differently this could be reversed. I have listed 10 steps that could reverse this trend. These 10 steps are based on working together at all cost. This would be cost effective and profitable. I call this the internet survival home business plan.1. What you want to do is get about 4 or 5 family members or friends together.2. All will present companies that they would like to join, but all will only agree to join one home based business that you all researched. One person’s name will be submitted as the owner of the business. It has to be this way because 4 to 5 names can’t be listed.3. All the members of the group will pitch in evenly for the start-up fee.4. All the members will recruit candidates to join the business, not the group. The group will always remain at 4 or 5 members.5. As a team you will pick who will be the best candidate chosen for each leg of the business. Again, this is for the business, not the 4 to 5 man group. These are new recruits, individual(s) that will be joining the your business.6. It very important to choose go-getter to head out your business and group. So, that money can be made quickly. You can elect a head or chairman of the group from the beginning. But, remember this doesn’t mean that he makes all the decisions. In order to be successful you have to work together. In the case of the business the weaker links that want to join should be put in a position where they have sponsor that can motivate them. These members should not be at the top of the chain.7. When the first check comes in, it will be split evenly among all the members or put into a pot an at a specific amount or time profits should be evenly distributed.8. Remember 4 to 5 heads are better than one if all are willing to work together. You want to continue this process unto infinity or until each member thinks that they can survive on their own. This process will reduce the failure rate and increase profits.9. One of the main keys to success is each member sharing their talent or individual skills. If one is good at marketing then he needs to train others. If one is good at speaking then he need to be the spokes-person or train others on how to speak successfully.10. Finally, Try to pick a business that doesn’t have monthly fees. I have found that this works better because of economy. This can work with business with monthly fees, but I wouldn’t encourage it if finances are low when starting out.This can be done with family or friends. You can recruit or hand pick your own group based on talent and skills as long you can all agree on things.I believe that this new approach will definitely work more effective than the approach that many have followed in the past. The key to survival with individuals in life is family. A family is a support system. We as human seem to thrive from this system more than those who don’t have a family or family structure. This concept can be use in any internet home business and I personally think that it will work effectively.

Certainly, rental property is one of the most profitable investments these days. However, not all property owners or landlords are able to achieve success and high profit from this business. Being successful in this kind of business venture takes a lot of hard work, patience and time. Sufficient knowledge in managing your rental property is also required so you would know how to operate the business. As landlord, you will also deal with problems such as working with non-paying tenants, repairing and maintaining the property. Hence, it is important that you hire a property management company to take care of all these tasks to effectively manage your properties and increase your profit.

One of the things that you must realize as an investor is the truth that property managers could bring so many benefits in dealing with your properties. At first you might think that hiring a property management company will only cost you money and lessen your profit but this is not true. As a matter of fact, they could help you save a lot of money, time and effort. It could add more cash flow in your pocket and will decrease the vacancy rates in your rental properties.

They could help you find the right tenants for your property. They select these tenants through a tough process of advertising, showing the potential tenants around the property, screening potential tenants, running credit checks and finally choose the most qualified tenants.

Another crucial aspect of managing your property is repairing and maintaining the property and ensure that it complies with local health regulations and building safety codes. Property management companies could help you with the physical management of the structure of the property and outdoor areas. Electrical wiring, plumbing, roof, walls, appliances, landscaping and much more are all part of the physical property that should be given attention. Furthermore, they can help you bridge the gap between you and your tenants. Part of their job is to maintain relationships with contractors and repair companies, budget capital expenditures, and monitor the quality of all repairs and maintenance. They are the best people to take care your property in terms of tenant and occupancy management. Remember that in rental property business a well-maintained rental property is the key in keeping your tenants.

They are also the ones who are responsible for collecting the rent payments from tenants and preparing income statements of the property so that the landlord will be able to evaluate how well the property is performing financially.

The property management team could also help you provide a quick and responsive customer-service to your tenants. Not at all times you can visit your property and promptly respond to the complaints and requests of your tenants.

With the service of property management company you can be sure that your properties are well-managed, your tenants are satisfied and you get the most from your rental property managers.

Investing your money in worthwhile ventures and investment vehicles is a worthwhile pursuit. The desire to see your money grow and to secure your financial future is normal and encouraged in most cultures. Is investing turning into something that is out of control? Is your pursuit to leverage your savings to make more money turning into an addiction that borders on something unhealthy?

The rush of having an investment pay off is exhilarating. The adrenaline rush that you get when you cash out along with all the other emotions that go along with seeing an investment through to its conclusion can be addictive. The nervousness of your entry into the market gets your heart beating. Your nervousness as you watch your investment by the hour and then the thrill when you see your money literally growing can rival any thrill imaginable in this world.

On the other hand, there are some of us that allow investing to rule our lives. An investment pays off and we feel like a winner. When an investment doesn’t pay off we feel like a loser and we begin to chase that emotion so fiercely that sometimes thought and reason leave us and we begin down the path to addiction.

If you find yourself checking hourly on your stock or the prices of gold or any other investment that you currently have money invested in then you might have a problem. You might try to rationalize this by saying that you’re keeping an eye on your investments but you probably already have sell orders and stops in place to take care of the need to keep an eye on your position every minute of the day. Obsessing about a stock or investment shows that you’re emotionally involved and a good investor removes all emotion from the investment decision.

Do you find yourself constantly looking for an edge or tips for hot stocks? This kind of behavior is similar to what goes on at a race track, wouldn’t you agree? While searching for an good investment and being an educated investor is wise, looking for underground news or tips on what is going to happen in your chosen market are signs that something is wrong. That feverish feeling overcomes you and you simply must find a winner. You are willing to do anything. You subscribe to clubs and mailing lists to find that sure thing and you chase that rush.

Most of us have one or two investment types that we prefer. We all have a knack for picking stocks, a feel for a certain currency pair or we enjoy investing in companies that we know a little bit about. If you find yourself chasing after profit and trying many different types of investments because someone told you that they know this particular investment is going to pay off then you might have a problem. Stick to investments that you enjoy learning about. Venturing off into uncharted territory when money is at stake is an unwise investment no matter where your information came from.

Lastly, if you find yourself using money that is earmarked to pay bills or that is put aside for savings or your child’s education then there is a real problem. Stealing money from savings accounts or other investments because you lost some money on your last investment or because you feel a need to make money is a sign that there is a problem. Lying or not telling a spouse or partner about your investments and thinking that you can return the money as soon as you cash out is your investment addiction talking and no common sense.

If any of these points strike home for you then you are encouraged to take a closer look at what you are doing with your investment activity. While it is a pleasant experience to make money through investing, it should never be something that is addictive or that you chase after. There are plenty of opportunities out there in investment vehicles that you are interested in. Learning about investing can be fun but chasing after money is always a bad move in investing.