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Tax Perks for Business
Unfair! Unfair! Unfair! Right?
Business people have unfair economic advantages over wage and salary earners. Here is how I have a financial edge over most of this article’s readers.
Officially I am retired. I am drawing a government pension. I would have liked to continue working for a few more years. But, unfortunately, I just don’t have the stamina to put in an eight-hour day at any occupation. My day goes much better after my second nap. I’m a good example for setting the retirement age at 65.
To occupy several hours a week and some extra shekels, I have a tutoring business. I do this task in the late afternoon or evening when I’m stronger. To minimize the chance of any “allegations,” I drive to my students’ houses, where there is another adult around. I really enjoy helping teenagers better their skills in math, chemistry, and physics. And I’m paid reasonably well paid for my time and experience.
Because I am working free-lance with several “employers,” I can call this a business. And businesses can deduct legitimate expenses from the revenues they earn. I get taxed on the difference between revenue and expenses. If I were a regular employee, I would be taxed on revenue.
One of my expenses is using my vehicle for this business. For example, one of my clients lives four…
