Day 9

Today was an extremely productive day. I went to a business seminar about How to Start and Run a Small Business. It was probably the best use of my time in months. The presenter was an MBA, CPA, CPA firm founder and college professor. He was also a very good presenter. Even though the information given was a teaser to get you to commit to a course/mentoring program, it was time well spent.

They covered things that every business owner needs to know about business in general, and about your business in particular. There were also the standard statistics about business success and failure rates, something that I found extremely interesting is that more than 80% of the businesses that fail have no written business plan.

We have our written and stated goal of earning $1,000,000 in 365 days, but we still do not have a clearly defined plan on how to accomplish that goal. Well that written plan is in the works and will be provided to site visitors who opt-in using he link on the right.

There were some “Right Now” benefits that I learned and can apply from the seminar such as immediate tax savings related to having a home based business. Things such as being able to write off a portion of my mortgage expense due to having a home based business, writeoffs related to business related mileage, business related travel expenses (example, the IRS is having a Tax seminar in Las Vegas) so travel expense to and from plus lodging can be deducted and you can still enjoy yourself when you are not at the seminar.

The things that I learned today can be applied to all of us to reduce our tax burden and increase the amount of money we are able to keep on a yearly basis. I will keep you updated and you keep pushing toward the goal.

Stephen Johnson
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