Managing Your Travel Business: Mastering Your Home-Based Taxes
by John Hawks

In any business, you'll find two ways to make money:

Increase your income, or reduce your expenses.

For home-based travel agents, one reliable way to reduce expenses is doing a better job of managing your taxes -- the money you'll pay the federal, state, and local governments on the commissions you earn from selling travel.

Studies show that the average U.S. taxpayer today shells out as much as 50 percent -- half! -- of gross household income in taxes. Think about your own tax bills. If you could simply cut those obligations by 5 percent, would that make a big difference in your bank account?

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