Im looking to make $20,000 this year. I know thats nothing to you but to me it will be a challenge. The year has started of well so only time will tell
Online: $128,712 Offline: $575,000 I have a business partner, and of course business expenses. And a wife. And kids. And a house. And family members that will need help. And friends that are down and out. So my take home for me should hopefully be somewhere around $17.00 if I meet my goals. I'm going to spend it all on a burger, a coke, a great milkshake, and two orders of fries at a yet to be determined diner. Online is pie in the sky, but feasible. Offline is doable.
My goal is $250,000.00 profit. If I sit on my arse and just do what I've been doing so far, I'll clear about $75,000.00 this year. Realistically, if I only add a few new projects (which is most likely what will happen because of time constraints), then I'll clear around $125,000-$150,000.
You can reduce your taxes depending on the type of license you have. Proprietorship/Parternships -RRSPs/other registered investment plans -Hiring family members. This is something I'm experimenting with this year on the advice of my town hall. Rather than pay myself the full amount each month, you pay yourself half and your spouse half. If you play with the numbers a bit you can get into the lower tax brakets for each person, letting you keep more money. Corps. -The biggest tax reductions I've found is to be charities so far, which is fine with me since I have alot of favoriate charities that I donate to on a regular basis.
Hers an ebook titled " How To Maximise Your Online Business With Tax Loopholes" Its not promoting anything of mine but some of you big earners might find it useful. Click Here > Tax Loopholes
$100 per year I just got my free game started online..so i will be very happy if i can cover the maintenance charges and earn myself some $