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The Liberty Lamp: Libertarian News & Editorials

A blog dedicated to the advancement of libertarian principles, and to the protection of activist groups' privacy and Constitutional rights. Topics include discussions on privacy tips, current events, political topics, and bulletins on how to get involved in various pro-liberty activities.

Saturday, October 07, 2006

US Tax Code Favorable to Home Based Business

The Internal Revenue Service- everyone's arch enemy, right? Well perhaps not, but they are pretty high up there on the list of the top 100 evils in the world today, that's for sure. Regardless of what you think about it, this organization enjoys taxing the crap yout of Americans, and can do so with relative ease for two primary reasons:

1. They have large guns, and big shiny badges to go with them! Also, you have a weak 2nd Amendment these days in general.
2. The average American is ignorant to the Tax Code exeptions and rebates he may be entitled to under the law (whatever that's good for). With a code over 18,500 pages long, it makes sense that most W-2 wage earners and CPAs have no idea about a lot of the details.

While we won't touch on reason #1 at this time, there is a lot you can do to make the most out of reality #2. Knowledge is power, and if you understand the tax benefits of owning your own home-based business, you'll be able to save hundreds, if not thousands, of dollars in taxes. Alternatively, you could just stop paying these thugs to enslave you entirely, but if you're afraid to do this, as most Americans are, you should at least take advantage of the "acceptable" ways to ensure that you're forking over as little as you can get away with and not piss off the audit agents.

One good source for information on this topic is http://www.homebusinesstaxsavings.com, owned by Ron Mueller, author of the book the site is based on. This site is worth checking out, and even has a home business opportunity for customers right there. Unfortunately, that particular program has some serious drawbacks that you may want to consider, such as:

1. SSN or TaxID, legal name, and other potentially sensitive information is required to join.
2. The program has only two tiers, thus you cannot leverage your efforts and earn additional income by attracting and training your own downline affiliates.(Not effectively at least)
3. You have only one (potentially insecure!) payment option, the Personal Check.
4. You are only paid ONCE PER YEAR for sales done during the previous year! This is NOT very flexible, especially if you want to make a regular part or full time job of it.

On the other hand, The Keep Your Assets affiliate program that the Libertarian Action Network recommends is far superior:

1. NO SSN, other sensitive information required, especialy if you have a private banking account or a regular checking account owned by an invisible New Mexico LLC (See site for details).
2. Affiliate program is truly "multi-level", and allows you to build downlines of up to seven levels! See the "Affiliate Program" page on the site.
3. You may be paid in several different ways, including eGold/eBullion, Paypal, and eLiberty Dollars.
4. You may be paid on a regular basis. For example, if you refer a new customer this month, you would have the opportunity to get paid within a week or two of the sale.

In short, home based businesses enjoy many tax benefits that you would not get by working for someone else. The freedom you'll get is real as well, and I recommend checking out the above resources.

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