If you have a business you operate from home then you probably know the secret to yesterday’s Happy Tax Day.
Forgive me if I celebrate a day that is painful to so many. You’re probably wondering: is she nuts?
Part. of operating a business from home is – ready? – T A X S A V I N G S.

I’ll never be without a home-based business.

Well, I get to deduct the space in my home that I use as an office, I get to deduct much of my business miles, and with a sign or two on my car, they’re all business miles. Anything I purchase on autoship is considered advertising, therefore deductible. Business supplies, business travel, postage – well, you get the idea – it all helps reduce my income taxes. Of course, I keep track in case the IRS ever wants to check, which they did, once.
I save all my receipts and used to just put them in ziplock baggie and envelopes. Now I also use Neat Receipts and scan them in. I keep a record of the online stuff, well, online, but backed up.
I’ve learned from my accountant what I need to account for and what is allowable.
I also have changed my withholding exemptions so that I bring home more pay from my job. That is an instant pay raise.

Please don’t take my word for this – check with an accountant. But it must be an accountant who specialized in mlm taxes. Not all accountants know the ins-and-outs of mlm tax rules.

One accountant, a friend of mine, was absolutely sure I could not show a loss for more than 3 years and still count it as a business. I remember being in the car in the back seat on the way to a play. My friend was in the front seat just in front of me. I recall her tossing her head and shrugging her shoulders and telling me “good luck”.It was like I was slapped and made to feel stupid and wrong.

If she had been my accountant and I found out later she was wrong, which she is, I’d be furious and that may well end the friendship.

Be careful who you choose as a tax adviser!

It could cost you thousands or dollars – or save them!

My accountant happens to be in Tennessee and I mail, fax, and email stuff to her, but I have heard from other accountants that mine is exactly right. By the way, if you ever want to speak with mine, let me know. Edie’s awesome.

Your accountant doesn’t have to be local to you. A lot of people have accountants in places far from them.

Anyway, hope your Tax Day was as happy as mine.

Wishing you mlm residual income and happy tax day in the future,
Wendy Weber, The Singing Network Marketer
602-404-1626 – Anytime
E-mail Wendy
www.wendywebermentor.com
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