Can a MLM business save you money?
You have probably only heard gloom, horror stories of
people losing money in MLM.
What about illegal pyramids?
That is another story. Strangely, Mr Warren Buffet, one of
the world’s premier billionaire owns a few of them. Why?
Maybe Mr. Buffet knows a few things that you don’t know.
Whatever, it is I am glad you are here and seeking to know
more on how a MLM business can save you money.
It is, no secret, but most people fail to take the full tax
advantages of a mlm business.
This is only pertaining to the USA and Canada.
I have heard that Australia and New Zealand has similar
system, I don’t know.
It can be hard to believe that you can save money through a
MLM company. Especially, with the hoards of reports and
fabricated gossips, stating that 90% of the people who join a
MLM business loses their money.
That sort of gossip about the industry was so rampant that,
direct selling news hired an independent auditing firm to
conduct an investigative study to verify or dispel such
This “new New data not only dispels accusations made in
the court of public and online opinion and advances the
industry’s ability to apply a fact-driven, strategic, proactive
offense to better educate the public and quiet industry
My own observation and experiences, solidifies the Tax
Benefits of a Home Based Business?
It is simple economics, the economics of discipline. When
you run your network marketing, mlm business, as a
business, you are entitled to a host of tax deductions, in
the USA and Canada.
I am only writing for US and Canada, so you would have
to check with a prominent tax attorney, or an accountant
who specialized in home based business tax laws.
In the USA, the IRS has a MLM business tax guide.
If you are challenged in reading it the Tax Reduction
Institute, has training, publications and a tax apps to
help clarify, decode& simplify the home-based business
tax .laws for you.
As a mlm business, in the US, you are entitled to a host
of tax deductions given to home based business.
Most people don’t realize the money saving benefits of
having a home based business, especially a MLM-
network marketing business.
You will probably be surprised to know that network
marketing has a lot of tax deductions, that some other
home-based businesses don’t have.
The focus of this article is on highlighting some of the tax
benefits or some of the deductions that may be available
to you, running a network marketing home based business.
I am not a tax attorney nor a tax consultant. This
information is for educational use only. going to discuss
any specific technique or how they are used.
Did you know that there are roughly 137 tax deductions
strategies, that most people don’t know about?
However, you probably won’t be using them all in your
first 3 to 5 years in business. There are strict guidelines
to using them all in various business structures.
Before we get any further I need you to know that the
information I share with you is simply for educational
purposes. I am not a tax adviser, and I won’t profess
to be one.
The list below is but not limited to what you may write
off for tax purposes, as you engage in a MLM home based
*** Eating out,including going to nice restaurants
*** Entertainment: including having parties
*** Fun activities: engaging in fun activities
*** Sporting events: basketball, bowling etc.,golfing
*** Travel: by air, water or land
*** Gifting: giving away gifts. Yes you can write gifts off
*** Online work: spending business related time online
*** Education: learning new things that you have to pay
to learn you may find this interesting, (restrictions).
*** If you have out of pocket medical, health, dental,
vision and certain insurance expenses, you may be able
to deduct some of them. That is huge.
*** You can also offset some of your regular W-2 wages
against home business losses or lack of profitability
you to purchase it and be able to write it off on your taxes.
Publication 502: Is an IRS Publication 502, that provides a
fairly long list of examples of medical expenses that qualify
for tax deduction.
Long-term care have limited deduction, as explained in
Form 2013, the maximum deductible amount for
long-term care insurance premiums.
Just a reminder, the key here is tax reduction.. not
Business start up: The cost of joining the business,
along with any other expenses, you had from acquiring
supplies, equipment, furniture, business building tools and
marketing and promotional materials.
The more you spend that are legitimate business start up
expenses, the more you can write off.
Ordinary & necessary:Later on you may have a whole
list of bills connected to running your network marketing
As long as they are ordinary and necessary you may be able
to write them off, some at 100% depending on the IRS
rules as applied to your business structure.
You’ll be able to write off your monthly phone bill and
internet bill the portion that is associated with your use of
those equipment in your business.
You may write off the hours you spend online sitting at
your computer conducting business or that is business
Mileage: And if you use your car for any business
purposes you can write off the mileage at a rate of $.54 per
mile in 2016.
An example you go to a Net Cafe and pass out business
cards, meet people and share what you do with folks.
You can write off those mileages.
Each time that you go out or are out promoting your
business, you can write those mileage off, as long as you
follow IRS guidelines.
Friends and family. If they live across town, there are
guidelines for you to be able to write off mileage, the
mileage to visit them and conduct business.
And you may be able to write off the cost of any fun
activities you may end up doing or going to a restaurant,
IRS have guidelines, on how to write off your mileage to
and from and other business activities.
Deduct fun activities: You may even deduct 50% of
the cost of any fun activities you paid for, for your
prospect or business partner.
Wow! Hey, think about season tickets to football
games and even away games, basketball games, golfing,
soccer, ballet etc.,and the travels associated with them.
Some of these activities can be written off at 100% and
What about taking your your significant other out to
dinner or entertainment and write the cost off?
How about hiring your spouse to work in your business
and offering him/her medical insurance and using a
certain technique to write off 100% of the cost of your
That one stuns a lot of people but it’s allowed by the IRS.
Just think about it, all these new entitlements, from
activities that you normally spend money on.
Now putting money back into your wallet and bank account.
Before they were lost expenses, now they would be
And because they are deductible expenses they lower
your taxable income or adjusted gross income.
That can be huge. Join our GWT VIP Club & learn about
Now as a network marketer you can have prospects
or business partners, wherever your company is in or
you can go open up a market.
This allows you, if you have the money, to travel
wherever your business is in and write 50% or more of
your business expenses off, some expenses up to 100%.
A lot of people, stay away from home based businesses
because they just don’t know the tax advantages and are
scared of dealing with IRS. IRS wants you to do 3 simple
things and they will love you.
Everything that you claim, that you will learn, to be a
legitimate business expense or deduction needs to have
a story behind it.
Telling where, when and why.
Now if, its money going into your bank account. They
want to know where it came from and how you got it.
In other words they want you to track and keep
records and receipts to show legitimacy.
Today this activity can easily be done using an apps.
If this information opened your eyes and mind to the
power of having a MLM home based business. I invite
you to take a look at what I am doing. It is as hybrid
MLM and because of the products used you can get
even deeper savings on your money.
“Free Report Reveals How to Make Money Online in
48 Hours or Less.”Get it.