Economic Stimulus Package – Why It’s Never Been a Better Time to Start a Business Without Money

The Economic Stimulus Package has opened a window of opportunity for budding entrepreneurs desiring to start a business without money from loans. In fact, it has never been a better time to start a business than NOW, for anyone seriously considering self-employment. Why? Well, to fully understand the answer to this question, let’s take a look at how the American Recovery & Reinvestment Act could impact your family. 

Tax Breaks: Payroll tax credits to the tune of $400 for singles and $800 for married couples, provide working Americans with more money in their weekly paycheck. Low income families also benefit from an increased child tax credit and earned income credit. College students are also reaping the benefits of the economic stimulus package, with an expanded tax credit benefit of $2,500 for tuition and related expenses.
 
Unemployment Benefits: The jobless get a leg up, with increased weekly benefit checks and a plan for suspending taxation on those same benefits.
 
First-time Home Buyer Incentives: Uncle Sam is dishing out an $8,000 tax credit for home purchases made through December 1st, as an incentive to stimulate the slumped housing market.

 
Auto Sales Tax Deduction: Car buyers get a boost by having the added advantage of deducting the sales tax paid on any vehicle purchase, from their taxable income.
 
Energy Efficiency Savings: Weatherizing your home can save you big bucks.  The new stimulus package provides for $4.3 billion in energy efficiency tax credits. Homeowners are entitled to 30% of the cost of home improvements (such as window replacements, doors or upgrades to heating and air systems) that increase energy efficiency, with a cap of $1,500.
 
So why is it such a good time to start a business without money from bank loans and outside investors — and how can you get started? All road signs indicate that the time is ripe now.  Here are 3 tips to help you get started on the road to success.
 
#1: Take Advantage of Increased Take Home Pay
 
The economic stimulus package is putting more money in your pocket. With increased payroll tax breaks, the government is hoping that you will spend more – in order to stimulate the economy. Don’t do it! The misuse or credit is the root cause of inflation. That’s the core problem that has put the nation into recession.
 
#2: Cut, Spend Less, Save More
 
Ruthlessly cut your current spending habits by eliminating all unnecessary expenses from your budget. Don’t allow the tax breaks to entice you to spend more. Create a financial plan and spend less by consolidating all expenses. Save more by getting rid of any unnecessary expenses, and put that money aside in a savings and investment fund — no matter how small the amount.
 
#3: Bootstrap, Bootstrap, Bootstrap!
 
Now that you have more money in your paycheck and a plan for reducing and consolidating your monthly outgoings, you’re on the brink of success. The final leg is to investigate bootstrap financing. Learning how to start a business without money from bank loans or borrowing, can only be achieved with a proven bootstrap financing system. This final step is essential to your long term business success.

 
The economic stimulus package has many incentives for budding entrepreneurs. Take advantage of these incentives by putting a plan in place to start your own business. There has never been a better time to benefit from the “gaping hole” left in the marketplace from weakened competition, due to corporate downsizing and cutbacks.
 
Start your business TODAY – even if you have very little money, poor credit or don’t own a home. Find free sources of business start up funding and turn your dreams into a success story.
 
To learn more, request your free copy of “The Bootstrapper’s Business Start-Up Planner”, by visiting my website.
 
©2009 Kimberly Kelly – All Rights Reserved Worldwide.
 
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