The bad thing about making boat loads of money as an entrepreneur is that you have to pay for it at tax time. Even though the economy is in rough shape right now, you still need to have some legitimate business expenses to help even things out next spring.
It’s wise to watch your spending on non-essentials but you can’t stop spending money all together.
One often overlooked benefit of hiring a Virtual Assistant is the fact that you don’t only get a ton of time freed up in your days, but you also get to claim the expense on your taxes!
Go ahead and visit VAnetworking.com and submit an RFP (request for proposal) to find the perfect VA to partner with. You won’t be sorry!
The Virtual Assistant will do the bookkeeping for you too; invoices or receipts ready to hand off to your accounting team.
At VAnetworking.com, you can find someone who can do what you need to have done with a minimum of the transition time that usually goes with delegating. That is another nice gain to line up along the side of your new business expense. You cannot deduct staying up all night to get a project finished or the time you spend re-training and re-directing someone in the office who already has enough to do.
Yes, good tip Jaime. Not only does hiring a Virtual Assistant free up time so that business owners can get on with those more important things. This is also a ‘luxury’ that can be claimed back on tax! Value add value.
There are a good many high quality Virtual Assistants at VAnetworking.com so I don’t doubt that the responses you will receive from that RFP you are about to post will be of superior standard.
And we can all use those write offs too! Thanks Jaime for reminding us of this valuable way to get that net income a bit lower for tax time 😉