Small Business Your personal expenses and things you own and do, can become fully or partially tax-deductible. The key to deductions is a legitimate intent to create a profit, typically two out of every five years. Begin a small business as a "sole proprietorship", instead of as a corporation, especially in the beginning. Use business "paper" losses to tax shelter job and investment income Diversify: by investing in multiple streams of income. Real estate to business, business to real estate. You get the idea.

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