By Marty Aquino, eHow Contributor
02 MAR 11
Imagine you just had an idea that could make you a fortune, but you wonder if it's even worth pursuing. Your idea is great; however, you are smart enough to realize that it's going to take a lot of work to make your idea a reality. There are other benefits to starting a new business besides the money you could potentially generate.
Tax Benefits for New Businesses
For many, taxes are an unavoidable part of life. However, owning a business can help lessen the amount you have to pay each year -- even if your business is part-time. Business owners can take deductions on office supplies, retirement contributions, mileage, subscriptions, travel and much more. You can even take deductions on the amounts you tip your waiter or bellman. Consult your tax adviser, but owning a business can impact your taxes.
Benefits for Corporations