Diversifying your Income
by Kellie Kuecha

One income households are almost a thing of the past. Women are starting home based or side businesses at an all time record rate and women working in Corporate America are also jumping on the band wagon. The idea of income diversification is not new, but with today’s economy, housing prices and corporate layoffs, many women and men are finding a means of additional income and in some cases, they end up leaving their careers to pursue their passion full time.

Women call our office on a regular basis seeking advice because they are looking to start a part-time business and they are not sure what to do or where to start. We first ask them to describe the things they are most passionate about. Most times we find that a network marketing business is best suited for the woman who wants to start something on the side 10-12 hours per week. Robert Kiyosaki, the author of Rich Dad Poor Dad, and Cash Flow Quadrant, calls networking marketing “The Perfect Business”. Donald Trump has been quoted saying, “If I could do it all over again, I would choose network marketing.” Unlike most other part time businesses, network marketing offers the appeal of “residual income”. Residual income, is also referred to as, passive income or re-ocurring income. Opting for an additional income stream, is a way for anyone to eliminate the glass ceilings of working a job or business that requires you to trade hours for dollars. With the right network marketing company, one could work diligently for a few years, and ultimately create an income that continues to come in, regardless of whether they continue to keep working.

There are many network marketing companies out there that vary in product lines and compensation plans but there are some important things to look for in the “right” company. Most major universities are teaching networking marking now as a viable way to earn a living. Women that Win has a vast array of knowledge in this industry and is here to help if you are one of the people who is looking for advice and direction.

Another very important side benefit to operating a home based business is the tax advantages that come along with having a “home office”. Many people are unaware that once you start operating a business from home, a percentage of your mortgage or rent, electric, office furniture, home computer and many other items become tax deductible giving you a much better tax return at the end of the year. Most of us despise the idea of dealing with any addition tax work at year end, but we came across a great product that can help you not only maximize your tax benefits, but show you how to do it easily, morally and ethically. Sanford Botkin of Tax Reduction Institute former IRS auditing agent and tax guru, offers a unique program that will save you thousands on your taxes. Sandy even shows you how to go back three years and amend your tax returns and most times, people will find they missed deductions that could have been taken. We highly recommend this for every business woman whether you are working for someone else or for yourself. Remember, the minute you start a home based business, you begin to qualify for taxes benefits that those without a home office cannot take.