Let me preface this by saying that I’m not an accountant and can’t guarantee this will work for you as tax laws are different all over the place.

Before taking any sort of action, I would recommend talking to someone who actually knows what they’re talking about and has a recognized certification of some kind

Here’s the deal:

You know how everyone is saying you should be involved in a niche that you’re interested or involved in? Well, I am, and it saves me over $4,000 per year in taxes.

Here’s why:

Because my hobby is part of my business, the $8,000 I spend per year on my hobby can now be written off as a legitimate business expense.

For example, let’s say you’re in a 35% tax bracket. In theory, if your business is a separate entity from yourself (as it should be), you’d need to pay yourself approximately $12,300, deduct 35% ($4,300) tax for the government, to have $8,000 left over to pay for your hobby.

Since my hobby is also part of my business, I can just have my business pay for the stuff I’d be buying anyways, which saves (in theory) over $4,000 in taxes that you’d otherwise need to pay.

The moral of the story:

By making your hobby part of your business, it can save a crapload of tax you’d otherwise need to pay to the government.

So…

If you’re into fishing, start a website, write articles and reviews on tackle, techniques and trips you take, then monetize it.

If you’re on a diet, start a blog or write an ebook, then sell it for a profit.

If you’re in the dating / seduction niche, write about it, monetize it and write off your dates.

Justin Michie is an internet marketing entrepreneur, online business coach and author of the best selling Internet Marketing Book, Street Smart Internet Marketing.