• Should I Give Away My 20%?

• Last-Minute Tax Tips

• The Next SIMB Study Group Begins in April!

• Sample of the Month

• Book of the Month

Last-Minute Tax Tips

As we roll through March, if you haven't done so already, its time to start preparing your taxes.  If you're treating your stamping business like a business, you're entitled to several deductions, including those for your home office.  And even though the year is over, there are still a handful of things you can now do to save money on last year's taxes:

- Construct a mileage log - With the increase in gas prices last year, this is even more important than ever before.  As a business owner, you're entitled to a deduction for every mile you drove for business.  How much?  Up to 48.5 cents per mile!  At that rate, even a few hundred miles adds up to several hundred dollars in deductions.  To construct the log, list each trip individually.  Write down where you were going, the purpose, the date and how many miles your drove roundtrip.

- Fund Your IRA - As a business owner, there are actually two types of IRAs you can set up in 2006 and back-fund for 2005 - the SIMPLE IRA and the SEP-IRA.  There are different rules and contribution limits for both (consult your financial advisor), but as long as you set these up before you file your taxes, they'll count for 2005, and the more income you defer, the less taxes you'll pay.

- Deduct Your Home Office - Many home-based business owners fail to take all of the deductions they're allowed for the use of their home office.  For a complete list, consult your accountant, or download IRS Form 587 - Business Use of Your Home

The Next SIMB Study Group Begins In April!

If you're looking forward to the new fiscal year and would really like to hit the ground running, I'm happy to announce the next SIMB Study Group will begin in April!

The SIMB Study Group is a low-cost way to increase your stamping business knowledge and establish accountability.  If you've been thinking about getting involved with Coaching, but just want to get your feet wet first, this may be the option for you.

Beginning in April, the Study Group will meet via conference call once per month, for twelve months, for one hour.  

Each month, we will discuss one or two chapters of the book and go into much greater depth and detail.  I will also ask you to complete tasks at the end of each call.

The Study Group will begin in April and will meet on the third Monday of each month, at either Noon or 10:00 p.m. (eastern).  If you cannot make a call, don't worry...all calls will be recorded and you will have access to them.  You will never have to miss a call!

You will also have access to me.  If you ever have a question or problem that you would like coaching on, you will be able to get in touch with me via e-mail for a timely response.

The best part of the Study Group is the price - just $19.99 per month!

For more information, or to sign up, select here.

Sample of the Month

Submitted by:

Kelly Mahoney 

Sets: Terrific Tulips, Floral Background

C/S: Bashful Blue, Pixie Pink, Green Galore, Confetti White

Ink & Marker: Bashful Blue, Pixie Pink, Apricot Appeal, Mellow Moss, Versamark

Accessories:  Silver Cord, Sponges, Rubber Brayer, Clear Embossing Powder

Congratulations to Kelly, who wins a $10 SIMB Gift Certificate!  

WE NOW HAVE OVER 200 SAMPLES and are adding more and more to the Samples Section of our website every day.  I'm especially looking for Spring and Mother's Day samples!  

If you would like to submit a sample to be considered for Sample of the Month and the Samples Section, just send me a scan via e-mail, or mail your sample to: John Sanpietro, Stamping Is My Business!, 36 Fir Street, Jay, NY 12941.  

Please include your name, e-mail address, phone number and all materials used to make your sample.

Book of the Month