Sohodojo Advisory Board Member
Jim Schneider
The Taxman86 Speaks...
28 June 2000
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The President wants to deal; New Home-based Magazine is on the News stands; Inc.Magazine goes Streaming with our good friends from Sohodojo.com.
1. If you missed it the President wants to deal.
The Surplus #'s are in and $1.9T over ten years, looks pretty good. Will we have Seniors Prescription Drugs relief, the Marriage Penalty Relief, and Death Tax Relief, looks interesting if you can find $500B+++ in surplus funds. What about an extra $2B for Enterprise Communities while we are throwing out the goodies, that would jump start 95 Distressed Communites and create high paying jobs and economic development to underutilized neighborhoods vs. the Sun City Crowd. What happened to the Small Business Tax Cut that included 100% health care, increased IRC Section 179, Pension Reform, and other things?
2. The Home-base business is going upscale and so is the media.
If you have not seen it, check out House of Business, The Magazine For The New Home Headquarters,Connected @ Home ---Entrepreneurs---Executives---Professionals--- Town and Country meets the home-based business crowd. Hopefully they will cover some of the interesting tax issues of operating out of a home, to wit, meals and lodging, health care costs, spa/home theater complexes, etc., whether it is in Park City Utah, a sprawling retreat in Maui, or a Spanish Castle in Newport Beach, California, with videoconferencing the wave of the future, see below.
Their Premier issue has a great interview with Harry Dent, author of The Roaring 2000s who works out of his Oakland California home. His comments are very insightful.
By the way, who said that kids are hooked on their computers? We suggest this is why, or maybe it is free games . The goodies keep getting better. Can they do a web site and get paid for it, why not? Is the family home-based business a full time effort, we think so. If the kids are WIRED, as the surveys indicate, bring them into the picture and start that college fund with pre tax dollars, or the private schooling costs, camps, etc.
If you think this is off the wall, check out pg. 40 of House of Business and see where two teenagers [18] have the hottest start- up in Riverhead, N.Y. called Eastern Digital Intranet Services, which is operating out of their parents' home. We suggest that this is more than a trend, it will be commonplace as the Web develops.
If 'Web Content', is in then working at home is going to become more the case not less in the entertainment world, and if that world can be in a tax favored environment, all the better. Where is the editing taking place after production is completed? More often it is now the home with digital equipment and high speed internet. It is even available to amateurs.
3. Our friends for Sohodojo.com do it again.
First it was with their Web Ring, then with the National Federation of Independent Businesses [NFIB] Small Business Summit, now with Inc. Magazine on nation wide Streaming Audio. [They are promoting the inc.com event because they think it's important and related to the Distressed Communities agenda, but not really in an 'official' capacity]. Congratulations to Jim and Timlynn.
Their archive of past issues of The Taxman86 Speaks... can be found at Sohodojo.
Jim Schneider, LL.M.
Taxman86
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