What does freedom mean to you?

What does Freedom mean

What does Freedom mean to you? Time Freedom, financial freedom, travel freedom?

Today, I started working on something that gives me a headache every time I think about having to do it. It’s tedious, time consuming, boring, requires accuracy, and if I don’t do it, well then… I hate to think of the consequences!

Every year it’s the same old story, and every year I tell myself I will try to keep after it, so it is not such a pain in the @%#!

But you know, I wouldn’t have it any other way! What I’m talking about is the ability to have as much freedom and control over my life as possible, in a highly regulated country, and getting more so everyday, with rules and laws that we law abiding citizens must obey.

What I am talking about is compiling, and preparing the annual Tax filing information to give to my accountant who puts it in the right place and hits “submit.”

She’s got the easy part… my part is mind-boggling.

What does freedom mean to you and me?

According to Merriam Webster, FREEDOM means:

  1. The power or right to act, speak, or think as one wants without hindrance or restraint.
  2. Absence of subjection to foreign domination or despotic government.

What does freedom mean to you when it comes to earning a living?

Well for me, here’s the beauty of it…

I work for myself. I have two businesses, and I sold a piece of property this year. The amount of paperwork is a bit over the top, and hopefully, 2012 taxes will be much easier after selling one of the businesses.

Which business will I keep? The network marketing and internet marketing business of course.

So what’s all this about the freedom, when I am telling you how much work is involved in managing everything?

The freedom is twofold.

First, I do not have to answer to anyone but myself. I don’t punch a clock, I set my own hours (even though I am usually working from 7 AM to midnight), I take vacations when I want to. I get all holidays off, I can raise my prices in one of my businesses that trades hours for money, and in the other business, I can leverage my time and money to earn as much money as I like. I have the freedom to do what I want, when I want and with whom I want. Life is good!

The other part of freedom that I enjoy is that I get to keep more of the money I earn. If I worked as an employee, my tax rate would be 10%, 15%, 25%, 28%, or the 35% tax bracket – period. It’s determined by my salary or hourly wage for the year.

As a business owner, especially a home based business owner, I can enjoy all the tax advantages that are legally allowed. I can deduct my business expenses to offset my income so I pay less taxes.

For example, suppose I make $100,000 in my home business, and I have $50,000 worth of expenses that are tax write offs. They may be office-in-the-home expenses, car expenses, travel to events, hotels, cellphone, internet connection, my computer and much more. Some of these deductions are typical expenses that the average person normally pays for personal use.

If I didn’t have the deductions, my tax rate on $100,000 would be 25%, but by reducing my income by the amount of money I paid for my business expenses, $50,000, I am now in the 15% tax bracket. I not only got many of my needs tax free, but the ones that were not business related were only taxed at 15%. So, making $100,000, reduced by $50,000 in expenses, and then taxed at 15%, means I pay $7500 in taxes.

Now if I were an employee with a very good job that paid me $100,000, I would have to pay 25% or $25,000 in taxes – whew! That’s a lot of money my friend!

What would you rather be paying… $25,000 or $7500 for making the same amount of money, and where one restricts your time freedom, and the other gives you all the time freedom you desire.

I know which one I prefer, so I’ll put up with the headache inducing, tedious, mind boggling minutia, and keep my $17,500.

What does freedom mean to you – more money in your pocket, and more time to enjoy it!

 

To your success…

 

 

 

PS: If You’re looking for the best MLM training available to generate tons of leads, your search ends here! – Click Here For Instant Access

Leave a comment and share what FREEDOM means to you; then SHARE, TWEET, LIKE and PIN this post, because your thoughts, actions, beliefs and questions are what give others permission to experience life.

 

Image: FreeDigitalPhotos.net

PSS: If you liked this post, be sure to “Like “ me on Facebook and be sure to leave a comment below.

Image: dan / FreeDigitalPhotos.net

Comments

    1. valheisey Post author

      You’re right Ted! It is difficult to describe freedom to those who will not hear, but to those who have tasted it, there is no accepting tyranny. I could have gotten on my soapbox very easily, but thought I had better keep things civil. Thanks for the comment!

      Reply
  1. Jamella Biegel

    Hi Val,

    Freedom to me means doing the type of work that I want to do, when I want to do it, and who I do it with. The tax benefits for having a home based business are incredible. I much rather $7,500 as opposed to $25,000 in taxes. Those who are not involved in online marketing, need to wake up and realize how great it is to have a home based business!
    Jamella Biegel recently posted..I Am A Fanilow And Proud Of It!My Profile

    Reply
  2. Clint Butler

    Freedom to me is to be able to go where I want to go and not have to worry about when I have to get back. To be able to run my business on a laptop without having to be home. To be able to take my wife on cruise twice a year and not have to let anyone know we are going. Now that’s freedom.
    Clint Butler recently posted..Team Beachbody ScamMy Profile

    Reply
  3. Viola Tam

    Hi, Val,

    Thank you for sharing your personal success story.

    Freedom means that I can have more choices in life, doing the activities matter most to me.
    For example, now that I am focusing on bringing my business online, I miss my role as a volunteer for a non-profit organization.

    Achieving my end goal would allow me to spend even more time in doing volunteer work!
    Having not to ask a boss for a pay rise is a wonderful feeling too 🙂

    Viola Tam
    Viola Tam recently posted..Lead Generation Systems for MLMMy Profile

    Reply
    1. valheisey Post author

      Unless they are handouts from the government – then free is a disappointment because they take from those who have and will work for it, and give it to those who do not have and would rather put their hand out than get out and work for it. Free is not the same as freedom Ray.

      Reply
  4. Pat McKeon

    Excellent Post Val,
    absolutely correct when you talk about our
    freedom as people in the USA as becoming
    more and more regulated…(one of the reasons
    I currently live in Central America)

    the tax benefits alone are worth Everyone in the USA
    to have a home based business!

    great job taking us down the path of percentages in tax Savings…:):)

    Pat
    Pat McKeon recently posted..FROM ZERO to Network Marketing HERO!My Profile

    Reply
  5. Radu

    Hey Val,
    We all have freedom in a larger sense…to think, feel.speak and act as we want..the thing is how we use the freedom we already have..to create more freedom for particular areas of our lives, such as financial..or just stay were we are..there is nothing wrong with having a business or a job..the matter is what we enjoy the most 🙂
    Having a business will offer a lot of advantages in time, like tax deductions, but again what people choose to be/do remains their own truth.

    Thanks for sharing:)
    All the best,
    Radu
    Radu recently posted..4 things I learned from Darren Little-The MLM Super HeroMy Profile

    Reply
  6. Godwin Okoduwa

    Freedom for me is when I dont have to think about my family needs anymore , but for the needs of others, then I dont have to work to take care of myself but work will be to take care of others. And that is my fulfillment. Thanks for sharing.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

CommentLuv badge