Why Most People Dont Take the IRS's Easiest yet Largest Tax Deduction - a Small Business

Let's see how many of you can read the next sentence all the way through before you think "no not
that". If people knew all the advantages to having any type of small business, especially a part time one that incorporates the things you are doing all ready: the things that you do in your spare time and do for free and could easily make even a small profit, they would take advantage of what the IRS itself has claimed to be their best tax write off available.  If you read on, we are going to address why so many people shut down this option in their life and how most of the reasons are garbage. Getting started in a business is thought of as intimidating. Fast forward a bit and the bonus ...
and ultimate prize is quitting your job and having a profitable blast doing something that gets your butt out of bed in the morning!   Now that will get your attention!  It's just getting through the muck of the start up? Personally, I have never experienced any muck.

Fear keeps the vast majority from ever getting started.  Unfortunately fear is imposed upon us and I want to address one of these overwhelmingly out of control impositions. The first source of fear is from too much information... information overload... paralysis by analysis. And most of it comes from the internet.

I've been searching the web for days with a mission.  My family thinks it's funny how much I google.  I've actually been actively googling ( a new verb) since I discovered I could.  I'll have to google that and see if they added it to Websters yet. Readily available value is abundant online but it's also so clouded with crap.  So my latest mission was in the clouded valuable realm.

This week I searched "start up business", "small business", "part time business", "tax deduction", "small business tax deduction", and many variations.  There is an amazing amount of information in this category, as is almost any other term you search.  I also read a lot of it.  It was exhausting.  If I didn't already own a business, it would have only taken looking down the list of results to have me think twice about getting started.  Now they may not have googled the tax deduction part unless they were specifically interested in that, which is sad since that's the best part; regardless, it would have sent someone running back to their already justified job.

Why is it that people in general have to make everything soooo difficult?  One link I saw, which I would highly advise not to click on even on your most curious of days, was one that read something like  "the top 50 things to do when starting your small business".  50?  Really?  And that was the top 50!  Just don't open that one.  If you are looking for reasons that you can't succeed (which most of you have done a good job of on your own) then you should read that post.  

Most of the blogs, articles, website home pages and comments I read are self serving.  There are only a few reasons I believe someone would write this stuff.

1.  They want everyone to know (or think) how smart they are.

2.  They are trying to make money on something that you really might not need.  In other words, they are attempting to give off the persona that you really need them (and their smarts). Or,

3.  They have never owned a successful business and they think reading up on it makes them an authority.  At the very least, they certainly cant have much of a clue about human nature.  I am clear I would never have ventured into business if I knew up front every thing there was to know.  I really don't even think it is possible and whats the point?  Nothing worthwhile works that way. Would any of us have had children?  Or got married?  Not me.  Those two areas of my life have been undoubtedly the most fulfilling and the most difficult.  But telling me all the dirt first would have
had me second guess it upfront or likely quit. So for all of you out there that feel the need to tell your personal horror stories about childbirth, you should stop.  People don't want to know. 

4. Drama sells.


No you do not have to prepare for years.  You do not have to get a degree.  You do not have to first read 20 books on business. And no you definitely do not need experience or money, which are the top two reasons why people think they can't start a business.

You can start right now.  Heck, you probably started a long time ago and didn't even realize it.  You could have been claiming many deductions and writing off expenses for years possibly.  The start of a business is with an idea.  So when did you have the idea?  Or have you been practicing it as a hobby and you could instantly declare it as a part time business simply with a decision?  And I use the word declare as a means of just saying it out loud (or to yourself)....it sounds like "I am starting a business today".  The IRS recognizes this as the start.  No fancy legal documents to file first.  Some call it the start up phase; the phase of a business that includes learning, preparing, organizing, and whatever else you think you need to do before you tell the public. Or you could just tell the public today.  Its whatever you decide.  But the tax advantage starts when you say!  So if we wanted to pare it down to steps... it might be just two.  Have an idea, and let the IRS know what you did.

Keep doing what you love to do.  If it's gardening, then decide to earn money with it.  If it's writing, do that.  Regardless of the amount ( and 500-1000 extra $ a month for the average family has huge impact), you can use the IRS's allowable deductions for added savings each year.

So let us help you with Small Business 101.   Have you ever heard Inch by inch it's a cinch?  How about How do you eat an elephant?  One bite at a time. Spoonfuls are way better than a faucet or a fire hose when it comes to tackling information and action steps.  Having big goals are commendable, but not to the extent that it overwhelms you.  Start small and have fun! There is no anxiety in today - only when you look too far in the future.