How to Keep Your Pet Sitting Business Off The IRS Hit List in 2010

Vicky Collins - The Deduction Diva - and my personal business accountant is a CPA who works with home-based businesses throughout the U.S. She just let me know how worried she is about the new IRS initiative to go after home-based businesses. They believe businesses such as yours and mine could be a major source of tax revenue and they’ve convinced Congress to up their annual “enforcement” budget to $5.5 Billion dollars just to prove it.

One major focus will be businesses with losses - this could be your part time or full time pet sitting business if you are just geting started or have invested in set up costs, trademarks, signs, conferences, and training programs this year.

You know, when the CPAs are worried, we should all be worried. But rather than just worry, Vicky has put together a program that will show us how to document our profit intention. Not only that, she’ll show us 6 main types of small businesses audited by IRS

9 Key Characteristics IRS uses in making a determination of a business or hobby

3 Main IRS Examination Techniques used 4 Types of information likely to be requested

3 Key Rulings and Laws that support taxpayers

What happens to your deductions when the business is reclassified as a hobby

This information rich call is only $29.95 and will take only 1 hour of your time and could save you lots of headaches!

I hope you’ll join me on the phone with Vicky for this very important call. You can learn more by clicking here:

Small Business IRS Auditing Call

Ps: The call is coming up on August 16th. Even if you cannot attend the call live, please sign up now as an MP3 download will be available after the call.

Owning a pet business does not guarantee you success, but it is generally not difficult to set up your own pet business adn many who own pet businesses love the hard working lifestyle and the closeness to pets. You will have to compete with those who may be better trained, may have lower cost structures and those who “pretend” to have your skills and experience when they do not. (eg not all those who advertise themselves as groomers are actually Groomers).

There are also key skills that all dog industry professionals should possess. Here are some of the most critical skills and abilities for those hoping to work with dogs professionally: Basic Dog Handling and Training Skills, ability to recognize behavioral signals.

Animals can be somewhat unpredictable when they are under stress or in an unfamiliar environment, like when they visit the veterinary office or the grooming salon, so it is important to be attentive and stay aware of the animal you are handling at all times.