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Home Business or Hobby? Avoid The IRS Audit

Posted on Sep 24, 2011
Author: Diversified Business LLC

We know this is not the most exciting topic - but it just might save you some money and real frustration later on.

Let's say you have worked hard to get your "work from home online internet marketing business" up and running and you are finally starting to make some money.

You have been filing your 1040 tax form each year with deductions for using a portion of your home as an office, supplies and equipment including a new computer, lots of information products and software used in your learning cycle.

You have been diligently deducting these expenses against income each year all the while keeping accurate records as you have been told to do.

But now out of the clear blue you get a notice of audit from the IRS in year 5 of your work from home online internet marketing business. You are shocked to be informed that the IRS is disallowing all of the deductions you have taken on your home business going back to day one and all of a sudden you owe the government a bunch of money.

This is being done on the basis of IRS Regulation Section 1.183-2 which is a little known area of the code that can give you a nasty surprise.

Internal Revenue Code Section 183 (Activities Not Engaged in for Profit) limits deductions that can be claimed when an activity is not engaged in for profit. IRC 183 is sometimes referred to as the "hobby loss rule."

It would be wise to set up and run your business from the beginning in a manner that will protect you from the unhappy scenario outlined above. Be advised, the IRS is very active in pursuing this examination of small business under IRS Regulation Section 1.183-2. If the IRS determines that you are not engaged in activities to make a profit, then no deduction for losses is allowed.

We recommend checking the IRS website (IRS.gov) and going to Code Section 183 or just put "hobby loss rule" in the search box.

As if you don't have enough to do in running your online internet marketing business from home.

Hopefully, this information will help you stay out of trouble with the IRS!

For complete information visit    IRS - Business or Hobby?

 

Article Source: http://www.articlesbase.com/home-business-articles/home-business-or-hobby-avoid-the-irs-audit-4485020.html

About the Author

Diversified Business LLC and Diversified Business Online provide information and resources to small business  - visit  Diversified Business Online

Free Home Business Software

Posted on Aug 23, 2011
Author: Devin Dozier

People have often wanted to break away from the traditional nine to five existence and set out on their own. There are plenty of people that seem to have a really good idea for a business, but do not have the skill set ingrained in them to see it through to prominence. With that being said, people could benefit from free home business software.

There are lots of different aspects that you have to take the time to appreciate when it comes to starting your home business. Through the course of the upcoming paragraphs, you will get a better look at some of these focal points and you will have a better idea of how to make your idea succeed.

One of the very first things that you are going to learn from software like this, will be the order of things that you are going to have to do. You need to understand that starting certain aspects of your business before others can help you afford it all more easily.

The financial aspects of running a business are what trip up most first time business owners and seasoned vets alike. Everything needs to be accounted for and headed out to the appropriate divisions and the like. You need to understand what to do with money when it comes in, how to keep your business afloat as you start to get your name out there, and things such as this.

It is said that for the first year or two years, the company getting started will actually lose money. This is because the investment to get it started is so high and the profit is likely not going to cover than initial cost for a year or so, depending on the popularity of the service being provided.

So if you were at all curious about free home business software, you are going to be able to use it to conquer some of these hurdles that stand in your way of a profitable home business. With a little bit of time and dedication, you will be able to get a great business up and running in no time.

Article Source: http://www.articlesbase.com/business-opportunities-articles/free-home-business-software-3018234.html

About the Author

Devin Dozier offers more information on earning money online at: Home Jobs Online. Also visit: Make Money At Home

Software Development - A login system with PHP and MySQL

Posted on Apr 26, 2011
Author: Martin Richardson

Many interactive websites nowadays require a user to log in into the website's system to provide a customized experience for the user. Once the user has logged in, the website will be able to provide a presentation that is personalized to the user's preferences.

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A basic login system typically contains 3 components which can be created using PHP and MySQL :

Component 1: Allows registration of preferred login Id and password.

This is created in simple HTML form that contains 3 fields and 2 buttons:

1. A preferred login id field

2. A preferred password field

3. A valid email address field

4. A Submit button

5. A Reset button

Lets say the form is coded into a file named register.html. The following HTML code extract is a typical example. When the user has filled in all the fields and clicks on the submit button, the register.php page is called for.

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 [form name="register" method="post" action="register.php"]
  [input name="login id" type="text" value="loginid" size="20"/][br]
  [input name="password" type="text" value="password" size="20"/][br]
  [input name="email" type="text" value="email" size="50"/][br]
  [input type="submit" name="submit" value="submit"/]
  [input type="reset" name="reset" value="reset"/]
[/form]

The following code extract can also be used as part of register.php to process the registration. The code connects to the MySQL database and inserts a line of data into the table used to store the registration information.

@mysql_connect("localhost", "mysql_login", "mysql_pwd") or die("Cannot connect to DB!");
@mysql_select_db("tbl_login") or die("Cannot select DB!");
$sql="INSERT INTO login_tbl (loginid, password and email) VALUES (".$loginid.",".$password.",".$email.")";
$r = mysql_query($sql);
if(!$r) {
  $err=mysql_error();
  print $err;
  exit();
}

The code extract assumes that the MySQL table that is used to store the registration data is named tbl_login and contains 3 fields - the loginid, password and email fields. The values of the $loginid, $password and $email variables are passed in from the form in register.html using the post method.

Component 2: Verification and authentication of the user.

In this the HTML form typically contains 2 fields and 2 buttons:

1. A login id field

2. A password field

3. A Submit button

4. A Reset button

Assume that such a form is coded into a file named authenticate.html. The following HTML code extract is a typical example. When the user has filled in all the fields, the authenticate.php page is called when the user clicks on the Submit button.

[

Article Source: http://www.articlesbase.com/home-business-articles/software-development-a-login-system-with-php-and-mysql-3117923.html

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Software For Running a Jewelry Business

Posted on Jan 11, 2011
Author: JT Miller

A lot of people are making jewelry at home now and many of those people are trying their hand at selling the jewelry they make. And while I've seen people spend thousands of dollars setting up a jewelry workshop or room in their home, I rarely see them spend a tenth of that on a few basic business software applications which could make their jewelry business a whole lot easier to run. And if your jewelry business is easier to run that means you can have more time doing what you love best: making jewelry!

Here are a few pieces of software I think every beading business or jewelry making business owner should consider buying:

Bookkeeping Software - I've seen entire bead stores that kept track of their accounting in giant black leather ledger books, but I've also seen those same people spend hours trying to balance the books and often giving up. This is where a basic piece of bookkeeping software will make your life a whole lot easier. Most basic software will allow you to keep track of income from a variety of sources (selling jewelry, selling jewelry repair services, etc.) and allow you track just about every type of expense imaginable. As long as you take the time to enter everything the right way you'll be able to press a button and immediately see where you stand. Depending upon your banking situation you may even be able to have your bookkeeping software automatically synchronize with your bank statement to avoid errors. You can expect to spend $200 - $400 for bookkeeping software, depending upon how much sophistication you need.

Office Software - You will probably need a basic word processing program as well as a basic spreadsheet program. Even if you don't have an immediate need for them right away you may find yourself needing to produce simple letters to vendors or working out a list of supplies with this software very quickly. There are some free versions of office software available and they work pretty well if you're computer savvy enough to install them. If you want to go with name brand software then you might want to budget $200 - $300 to get the latest and greatest versions.

Inventory Software - You might not think this is important at first, but you'll soon be swamped with jewelry pieces, beads and findings of every type and about a million other items that are difficult to keep track of. You may at first only need software to keep track of the jewelry you're creating, but if your business gets large enough you'll probably also want software that keeps track of all the pieces and beads you may be using. There are lots of different options to choose from with some of the more sophisticated bead jewelry being able to tell you exactly how much each piece cost you to make. Depending upon your needs you may want to consider setting aside about $500 for inventory software.

Graphic or Digital Photo Software - If you're going to sell your jewelry online then you'll most likely need to post digital photos on your website for everyone to see. Most digital cameras come with some basic software and there are plenty of free versions of software for graphics editing available. You may want to hold off buying any digital photo editing software at first and trying what you can find for free. If that doesn't work then plan on spending about $100 on software to edit digital photos and make computer graphics.

As your business grows you may find your jewelry business has even more needs beyond these. Most software can be upgraded for a price that is lower than buying new, so once you make the initial investment you may be able to keep up with the current versions for less than you think. The amount of time many of these software applications can save will make them worthwhile.

Article Source: http://www.articlesbase.com/home-business-articles/software-for-running-a-jewelry-business-471803.html

About the Author

Visit the Bead Jewelry Blog to get more bead jewelry ideas, news, trends, tutorials and bead jewelry business advice.