One of the most common justifications we get from independent consultants and solopreneurs for creating and maintaining their own company are the tax advantages of being able to deduct business expenses.
As the boss of your own business unit in Free Agent Source, you get the tax advantage of deducting normal business expenses here too:
|BUSINESS EXPENSE||FAS REIMBURSEMENT POLICY|
|Mobile phone and monthly bill?||yes|
|iPad and mobile data plan?||yep|
|LinkedIn premium, DropBox, YouSendIt and other software subscriptions?||definitely|
|Computer and Software?||sure|
|Meal expenses for breakfast, lunch, dinner, coffee with clients?||affirmative|
|Travel expenses to client meetings, trade shows and training?||go|
|Mileage reimbursement or maintenance for car used on business?||can do|
|Trade show registration fees?||do it|
|Professional association membership dues and events?||gotta network|
|Business books and publications?||get smart|
|Professional training courses and certification expenses?||get smarter|
Every tax break that you can get through your own company, you can have in your own business unit within Free Agent Source. So what’s the advantage of operating as your own business unit within Free Agent Source instead of operating through your own business?
- East to start, easy to exit.
- No need to register your business. Just start.
- No cost to exit your business, because there’s no entity to close.
- No need to open a company bank account or pay monthly banking fees.
- No need to create a tax ID and register with IRS and state tax authorities.
- No need to renew general liability and professional liability insurance each year.
- No need to create and maintain your own 401k plan.
- No payroll processing. No cost for payroll software.
- No cost for invoicing. No time spent on invoicing.
- No cost for book keeping. No time spent on book keeping.
- No meetings with accountants for company tax filing for your business.