A lot has been said about the many advantages of starting your own business. Let’s start with the tax incentives. It’s no secret to anyone that the tax laws are written to promote business ownership. So do what the rich do. Start your own business and take advantage of the favorable tax advantages that come with owning a business.

Build First, Pay Taxes Last
The difference between the employee and the business owner is that the employee pays taxes FIRST on what they earn and then gets to live on whatever is left over. The business owner spends their earnings to build their business FIRST and then pays taxes on what is left. The business owner will always pay less tax than the employee simply because they can reduce the income amount they have to pay tax on. This enables the business owner to grow their business faster and for the business to generate investment dollars quicker.

You know why you want a home business or to start your own business:

Be your own boss. No one can fire you.
Set your own hours. Work when you want to.
Determine your income based on the work you (and others) do.
Have the full potential of unlimited growth. And you keep the profits!
But so many businesses, home or otherwise, fail. There are many reasons why they fail. Among them are:
Poor cash management. Lack of funding - for start up and slow seasons.
Lack of sales due to bad or inadequate marketing and advertising.
Poor product or service or unstable supply.
Outdated product or a product that becomes obsolete.