We’ve all heard sales pitches from various Network Marketing and MLM Opportunities, but a MAJOR thing that seems to missed out, is the Tax Breaks available to the Network Marketer.
You see, the tax laws were written to favour the Business Owner. Business Owners have far more tax breaks than employees. Infact, Employees have the LEAST tax breaks, and consequently, pay more tax. You see, being a Business Owner, you pay out ALL of your expenses FIRST, and then you pay your taxes. As an Employee, your boss pays your tax first, and then you’re given what’s left, to live on.
If you’re reading this, and you ONLY have a wage income coming in, then I’m afraid to say, you’re probably paying far too much tax.
You see, when I say the Tax Laws are written to favour the Business Owner, you probably think, Conventional Business. Staff, Rent, Rates, Stock etc. But no, many Businesses now are run from home, and some don’t even have employees. If you think about IT Contractors for example, they themselves, are a “Business!” They don’t receive a salary. They get paid, and then are responsible for their own taxes.
Similar to them, Network Marketing and MLM Opportunities are officially acceptable forms of having a business. The GREAT thing is that you can continue to work your job, and run your Network Marketing Business alongside your job. Doing this, you can immediately start to pay less tax by running your MLM Business as a proper Business, keeping good records etc. Do see an accountant about this, but you’ll find, that you’ll actually be BETTER off paying the monthly fees that your MLM Company charges, and having your own business, than you’d be just as an employee. You see, if you don’t have a business, you’ve already been paying WAY more tax than you need.
Here are a few examples, of what you could write off against your Tax Bill.
- Mobile/Cell Phone Bill.
- Mortgage Interest (Percentage of, not all of it).
- Percentage of Rent if you’re renting.
- Gas/Petrol used on “Business” Journeys.
- Certain Food/Drink Bills.
- Percentage of Car Payment.
The list is actually endless, and even things such as Vacations IF you’re in the Travel Business and conducting Business there. Remember, these laws are not to be abused, they’re there to be used for legitimate purposes, but SO much of what we do day to day, can be also used in MLM, so it’s GREAT for Network Marketers.
The best part of all this, is that it’s a LEGAL way to pay less tax. Tax “AVOIDANCE” as opposed to tax “EVASION’ is LEGAL! Remember, the LAW states that as a Business Owner, you have MORE Tax Breaks. This is certainly the case in places like the USA, Canada, U.K, Australia and so on. You’ll find that this is the case in most of the world.
So if you’re in Network Marketing already, promote this benefit more. Quite often, the savings that people would make on their taxes are MORE than what it costs to join the company in the first place.
If you’re looking at joining a Network Marketing Company, do it ASAP! Find a company and team that you can get excited about, and start taking advantage of the Tax Breaks that are available to you today.
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