Personal VS. Home Based Business Taxes

Home Business Tax Advantages in Network Marketing
By Vivien Hews on Sunday, March 27th, 2011 | No Comments
2ShareTaxes, ugh! Tax planning makes most of our minds go numb. And paying taxes, well let’s not talk about that. Or maybe we should? Just for a minute, because I actually have some good news for you. No, I’m not kidding! Read on …

(Note: To listen to a lively short message on your phone about the tax advantages of a home business, from Sandy Botkin himself, call my toll-free number at (888) 888-9802, ext 59480.)

Here’s the part you know:

Employee’s W2′s are beginning to arrive in mailboxes all across the country. People are being hit hard with the reality of how large a portion of their earnings are going to income and other taxes.

Here’s something you may not realize (no pun intended):

The average American works until May 5th just to pay their taxes. And many Americans have little or no savings or investments for retirement.

And here’s why I’ve brought up this uncomfortable topic at all:

Enter the savvy person who joins a network marketing business, or starts any home-based business this year. As a home based business owner, many of the things you are paying for now, become legitimate tax deductions.

Things like:

* Your computer
* Your internet connection
* Your long distance and cell phone service
* A percentage of your rent or mortgage
* The initial investment or the start-up costs you pay to become associated with your preferred MLM / network marketing opportunity, or other business venture
* Your vacations when combined with the appropriate amount of business

This concept is known as “redirecting expenses”. So why aren’t more Americans aware of this and starting more home businesses? My answer to that is we were not taught to do so. We were taught to get good grades, graduate and get a job, work hard and be rewarded by our employer. Ah, the good ole days! Life is asking more from us today.

According to Sandy Botkin, the author of ‘Lower Your Taxes Big Time’ and a former IRS Attorney, “You would be brain dead not to start a home-based business.” I agree to a point. Lots of people with perfectly healthy brains just don’t know what they don’t know.

So I say, “You’d have to be brain dead ‘if you know the potential tax benefits’ and then choose not to start a home-based business.”

Botkin goes on to say:

* You will never get rich until you learn to get your taxes down to the legal minimum
* There are 2 tax systems in this country – one for salaried employees, and one for small/home business owners
* A home business will make you better off than a second income
* Traditional job security has declined over the years and will continue to do so, making home businesses more attractive
* You will probably save $2000 to $10,000 per year by starting your own part-time home business

So what is the answer? Yes, this is kind of a trick question.

I may not have “the” answer for everyone, but I have “an” answer that will be right for many. Start a home-based network marketing business this year. Starting your own home-based network marketing business may be the very best asset that you’ll buy in this lifetime.

I say start a network marketing business because of low start-up costs, and the personalized training you will (ought) to receive from the person and team who sponsors you. You will have a learning curve to go through to start making money, so it can be beneficial to not have the stress of a large up-front expense to deal with while you’re learning.

It used to be that MLM or network marketing was better suited to those outgoing, super people-person types who loved nothing better than to approach every person they encountered around town and tell them about their business.

Or someone who was already well connected, and could build an organization almost over night based on their established relationships.

These days, you can still be outgoing and connected, and succeed in MLM. That hasn’t changed. What has changed is, if you’re an introvert, a home body, or just too busy living your life to attend hotel meetings and host home parties, you can still build a thriving MLM business.

With responsible use of the Internet, websites, discussion groups, blogs and the telephone you can work part-time on your fortune, from the comfort of your home.

So if you’re ready to start your home based business and you thought you weren’t cut out for network marketing, consider taking another look. You may not have changed, but succeeding in this particular industry has.

And who knows, with all of the new deductions owning a home business provides, you may even look forward to tax time next year!

DISCLAIMER ....We are not tax experts ...please consult your CPA and/or attorney.

New American Dream vs. Old American Lie !

Do you have an extraordinary dream?

Something uncommon, "out of the box," important and special to you? If you are a Network Marketer, we invite you to join The KINGDOM! Group, the only program of its kind in the industry today. A program where you choose the dream – anything you can imagine – and we offer you extra rewards to help you make your unique dream a reality.

The Dream Program was created because we believe the world today is pretty tough on dreams and on dreamers. Hard times and daily grinds have worn down our imaginations.

At KINGDOM ! Group, we beg to differ. We aim to be different. We believe your dreams are worth believing in. We’ve developed a complete program to help you go beyond dreaming – to realize your extraordinary dreams.

Tell us your dream, right away. Receive as much as an extra $1,000, as soon as next month. After you sign in and share (or “declare”) the specific Dream you’d like us to help you make come true. To learn more, call KINGDOM ! Group, and "Declare Your Dream."

Not yet in KINGDOM ! Group? Ready to start your own extraordinary business? You can enroll today and be among the first to enjoy and share this lucrative, groundbreaking opportunity. It’s the first and only entrepreneurial opportunity of its kind being offered by Kevin " KINGOM! " Hemphill.

KINGDOM! Group

ALL great moves of God must begin among His people, Hemphill emphasized April 8, in his first address as lead strategist for KINGDOM! Group - Kingdom Growth initiative.

Using both Old and New Testament texts on how God viewed His Kingdom, Hemphill said God has drawn others to Himself through His people only as they embrace Him in repentance and humble obedience.

"If you were thinking Kingdom Growth is about some program that will give new juice to your old ways of thinking, you're going to be disappointed," Hemphill told several dozen christian small business leaders. "This is about radical lifestyle commitment to our Father's Kingdom, for our Father's reward. And none of us may receive much glory for this here on earth.

"It's about transformation of people, so that their name is synonymous with His name, and the nation would see His name manifested in His Kingdom in such a way that the ALL people would be drawn to him."

Empowering Kingdom Growth is a life initiative launched in 2010 to call people to renew their passion for Jesus and the reign of His Kingdom.

When Israel was dedicating the temple, he pointed out, the whole focus of Solomon's prayer in 1 Kings 8 was similarly on lifting up God's name so that "foreigners" would hear about God and come to live among the people of Israel.

"Here we have an incredible evangelistic outreach in the Old Testament that is one we have never even dreamed of," Hemphill said, "and that is that God has embraced people in such a way that they are drawn to this place."

"If we're going to see Kingdom growth it's not going to be another formula," Hemphill said. "It's not going to be another program. It's going to have to be a radical transformation of God's people so that His name is made holy among us."

While the movement was effective in many ways, Hemphill said, "I think it did produce a carnality in us that we began to believe there was something we could do to grow the church."

The same elements of God's Kingdom vision also are found in the New Testament, Hemphill said.


If we go into this hoping that people are going to receive the glory, we're going to miss it by a mile," Hemphill said. "The only person who needs to receive glory from anything we do -- whether preaching, at work or doing business -- is the one whose name is above every name."

SMART!

“[Smart] is an elusive concept. There's a certain sharpness, an ability to absorb new facts. To ask an insightful question. To relate to domains that may not seem connected at first. A certain creativity that allows people to be effective.”

- Bill Gates

Inspirational Video - The Don't Quit Poem

What Is 1 to 1 Marketing?

The Perfect Business