I get asked all the time what are the ‘expenses’ that come with operating a DSF biz.
And YES – just like any other legitimate business…
There are expenses!
But the good news is, they are insanely small.
Especially when you consider what it’d cost you to do things like buy real estate…
Or open up a restaurant franchise…
Or even just go to school for a Bachelor’s degree!
That’s a subject for a whole other email…
Because here’s what I wanted to share with you today:
Whether a DSF biz costs you hundreds… thousands… or even tens of thousands of dollars to start…
(Spoiler: you can easily get started in the ‘hundreds’ range…)
It doesn’t matter all too much at the end of the day!
Because the bulk of the expenses we have can often be written off at tax time!
See, unlike as an employee, where good ‘ol Uncle Sam wants a ridiculous cut of your money, and there’s nothing you can do about it…
As a business owner – even if you’re just a one-man-band…
There’s a TON of stuff you get to write off in order to keep a little more $$ in your pockets!
This includes software…
Training, Coaching, and ‘Professional Development’…
Advertising…
Office Space…
The list goes on!
In fact, the way it’s defined is…
“Any expense which is ordinary and necessary for your trade or business is deductible under Section 162 of the Internal Revenue Code.”
Now, while it should go without saying…
I am NOT an accountant or tax expert!
You should always do your own homework on what’s deductible and what’s not.
The point is simply that there’s TONS of little financial benefits to operating a DSF biz…
That can all add up to being a hefty little “rainy day” fund 😉
Just something to think about!
Enjoy the rest of your day.
Blessings always,
Cory Long
Digital Storefronts
P.S. Ready to join a community of Kingdom-Minded Entrepreneurs?