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Answers - Home Business or Home Opportunity
Here is the main reason:
How about because your crazy if you don't start a small business. Whoa don't leave yet. Let me explain. In most countries all expenses relating to a small business are tax deductible such as o
How about because your crazy if you don't start a small business. Whoa don't leave yet. Let me explain. In most countries all expenses relating to a small business are tax deductible such as o
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
ffice space (yes even at home), auto (gas, tires, lease, maintenance, insurance, etc) phone, computer, printer, scanner, digital camera. With most tax systems equipment can be depreciated and this includes your vehicle
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
. Business lunches and accommodations while traveling and more. Each area and local is different but one phone call to a local accountant or book keeper will clarify what is applicable to your area.
I have a saying; "
I have a saying; "
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
IT'S NOT WHAT YOU MAKE - IT'S WHAT YOU KEEP THAT COUNTS", are you starting to get the picture? Most households are stuck in the system. Two pay cheques coming in, let us say $25,000 each for a total house hold income o
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
f $50,000. Let us assume a 30% tax bracket. No expenses to claim so 30%= $15,000 deducted and sent to the government each year. This would leave $35,000 to live on for the year. Now let us assume there are two children
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
and day care costs at $100 a week. Say Mom takes 2 weeks vacation a year that leaves 50 weeks at $100= $5000. Now we are down to $30,000. Now let us assume Mom has to travel a second car to get to work. $100 a week ca
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
r lease and $100 a week gas=$200 a week x 50 weeks = $10,000. Now you are down to $20,000 left to come and go on. I could continue with an assumed mortgage or rent payment, the cost of Hubby's car and so on but it's ea
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
sy to see how you can make $50,000 and still have no money.
What are the advantages of owning a small business?
This answer is simple. To reduce your taxable income. Remember what I said previously "IT'S NOT AS IMPOR
What are the advantages of owning a small business?
This answer is simple. To reduce your taxable income. Remember what I said previously "IT'S NOT AS IMPOR
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
TANT WHAT YOU MAKE AS IT IS WHAT YOU KEEP." This is the secret of the wealthy. The main difference between the 10% that have the money and the 90% that don't. They make the system work for them instead of them working
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
for the system. Starting your own small business is the first step in moving from the 90% to the 10%. No it doesn't happen over night. But if you keep doing what you're doing nothing changes in your life. Moving from t
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
he 90% towards the 10% requires making some changes. Starting your own small business is the first step.
Let us look at our example household under different circumstances. Let us say they've worked a few years part t
Let us look at our example household under different circumstances. Let us say they've worked a few years part t
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
ime and established a home based business making $12,000 per year. Mom or Dad now stays at home. The other spouse still brings in $25,000. Total income $37,000 minus $5,000 in business expenses (the family has taken a
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
few trips promoting the business together) =$32,000 in taxable income at a reduced rate of 20%=$6400 in taxes =$25,600 in disposable income. No daycare, no second car, someone always home with the kids and less stress.
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Not a get rich scheme but 90% of the millionaires started with a small business in North America. Could you be one of them? Oh and by the way if you're household income is $100,000 + you need the tax breaks more than
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
the $50,000 household.
Sounds good but I know nothing about business. Where would I start?
Remember that's what this article is all about, helping you beat the system based on my 30 years experience and helping you f
Sounds good but I know nothing about business. Where would I start?
Remember that's what this article is all about, helping you beat the system based on my 30 years experience and helping you f
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
ind a niche that you would enjoy based on my years of trial and error. There are lots of opportunities that work but it has to be something you would enjoy and can start part time with out a lot of up front investment.
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
The first step is to take an honest assessment of your own skills and abilities. Every achievement only comes with an honest work ethic and the ability to learn. You also have to make a commitment to that project. You
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
will also require the self discipline to work with out a boss. Many employees have a problem with that. You may have to change your whole mind set from employee to entrepreneur.
The best book ever written to help you
The best book ever written to help you
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
do that is "Think and Grow Rich" by Napoleon Hill. I have that book as an e book and will send it to you for free, just email me at staff@easthants.com with subject line "e book". The primary purpose of this article i
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
s to motivate you to make a change in your life. Success only comes with change. You can be successful. You need to understand the system, how it works and realize, IT'S NOT WHAT YOU MAKE BUT WHAT YOU KEEP THAT COUNTS.
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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