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Archive for the ‘The Business Connection’ Category

The success of your sales efforts depends upon your presentation.  Fortunately, the cost of promotional items, gifts and samples are deductible expenses for your business.
This includes:

Any products purchased by you to be tested in your home.  You may deduct the cost of at least one of each product for testing to determine its effectiveness, quality, durability, or reliability to your own satisfaction.The initial start-up package of products and tools,  if you are required to purchase them.Demonstration products.Items loaned to prospects, after they have completed a program demonstration.Any tapes you buy either to loan out, to train yourself, or to give away to promote your business.
Books used to help you build the business.

Pins, plaques, or any form of awards associated with achieving goals that you decide to use.

Gifts costing up to $25 each provided to people important to your business.  There is a once per year limitation.  There is no limit on the number of people to whom you may give gifts provided they are business-related. When calculating the cost, do not include the cost of gift-wrapping, engraving on jewellery, packaging, and mailing.
A business gift must be given with the expectation of earning a profit.  However, you do not have to actually profit from each and every gift in order to deduct the cost. There must also be some business connection between you and the recipient of your gift, either as a current or prospective customer or client.  This is especially true if you want to deduct gifts you make to relatives and friends (not the best of uses).

Be careful, though, if you order any of these items on the same order form as products for sale.  Do not include them as purchases in determining your cost of goods sold. You should deduct the cost of promotional items as operating expenses. A good practice is to buy these items on a separate order form to prevent year-end confusion, and in some countries to limit consumer taxes. The same caution must be exercised if you order products for your own personal use.  Again, these personal-use items must be subtracted from the total of your purchases to accurately determine the amount of merchandise ordered for resale.

If you occasionally take a sample for personal use, you must subtract the cost of the item from your deductible sample expense. Do you sometimes use demonstrator products for personal purposes?   If so, you will have to allocate the cost between the time the product is used for business and the time it is used for personal reasons.  Only the business portion of the cost is deductible.

Note: Taxation legislation differs between countries and each country may change their rules at any time. The information provided in these newsletters is accurate at time of publication. You should however seek specific information from your Tax Advisor or Taxation Department as it relates to your own situation each year that you are required to provide Income and Expense Statements.

Business is about relationship building. That is what is called networking in the formal sense. Success in business starts with good relationships with those around you. This is really connecting with the people around you in a friendly and trustworthy manner. If you are going to work a business and make a living out of it this matters.

You know where you want to go, but how to get there is another matter. Most opportunity comes about because of contacts. Self made millionaires usually did not do it alone. They had some very good opportunities come their way by having some great contacts. They know that everyone that helps is their business team.

The real fun of business is that you meet a lot of great people along the way. Everyone you meet has a wealth of experience that is invaluable. Now more than ever relationships and networking happens in real time. Phenomenal growth has a lot to do with the relationships with customers, vendors, and strategic alliances. Creative ideas are tossed around when you interact with clients, vendors and other people. A lot of times in a matter-of- fact way a reflexive comment changes your company. Live and learn sure applies to business.

Involvement is the key word in any business. Obligation is not the same as a social connection that stresses the importance of relationships. Aspiring to profit from a business is not always the same as succeeding in business. That means the value you bring to your relationships has a paramount impact on your business. People who are passionate about what they do are usually the most generous with sharing their expertise

The ability to partner with your customer, distributors, vendors, and other businesses is what will help make your business a success. The knowledge you add to your service and communicate to your customers is what makes a long lasting relationship. Success in any field is about working with the people that are there. No one does it alone, only by connecting with others can you expect to reach your goal. People you meet can work as mentors by offering help, guidance and opportunities to grow your business. This is your business team that will help you reach your goal.

Let people enrich your life and transform your business. Consumer connectivity both literally and figuratively creates a strong brand for a company. You build one person at a time until you have enough connections to forge an identity. Create, collaborate and share in a wide variety of ways your business, yourself, and your knowledge. It is always good to remember you are part of a business and social community that are drawn together for survival.

There is a new breed of businesses that really count on both the interactive and traditional. Remember the web is a community of businesses connected through links, affiliations, and testimonials. The web is a growing success because of its interconnections. This new media has one important message that delivering to, and reaching a wide audience is the way to nurture a business. Relationships are the key to unlocking a treasure trove of support and access to resources.

Everybody wants to work from home. Maybe you want to work from home because you are a single parent and want to be at home with your kids. Maybe you want to work from home because you hate office politics.

Maybe you simply want to work from home because most of the work from home opportunities that you hear about list huge rewards for minimal efforts. No matter what reason you have for wanting to work from home, the Home Business Connection is a great resource to use while finding the perfect work form home opportunity.

The Home Business Connection is a publication that is dedicated to bringing people the latest news and trends involved in working from home. They have a ton of articles and links for things like paid survey offers, e-bay start ups and a list of the best work at home offers that they have found. This resource was first developed in 1996 in Elizabethtown, PA and manages to find two hundred thousand new readers every month.

The website works as a sort of mirror to the print publication. It offers some of the same articles, and a lot of the same categories. The makers of the HBC have tried very hard to set up a supportive environment for people who dream of working from home and/or starting their own business.

The Home Business Connection Income Opportunity is different. From what we can tell the publication itself is not running an MLM campaign. There is nothing mentioned on the website of being a sales associate for the company or of building a down line or earning commissions. At least, if there are these things, we could not find them. What we did find, however, was an Income Opportunity board.

The Income Opportunity board listed at HBC has a variety of different categories. There are categories for women friendly businesses, travel opportunities, real estate opportunities, retail opportunities and even air purification opportunities. The board is set up to run almost like a classified ad listing.

You click on the category you want and it takes you to a page of listings for income opportunities within that category. A lot of these opportunities are for things like mystery shopping and product assembly. There were not a lot of multi level marketing opportunities listed although we did see a few blatant “we want to make money off of you” schemes.

The Home Business Connection is a great place for people to go when they are looking for more information about what it is like to work from home and how to find different home based business opportunities.

It cuts out all of the junk that you would normally find on other sites and boils it all down into easily read articles and advertisements. There is also a resource section of this site with listings for things like business software and small business funding. Give it a look or two. Everybody can learn something new at this site.