XanGo™ Tax Tips
“Customers who set up a tax file rarely cancel. Customers who cancelled rarely set up a tax file.”… Bob Schmidt
My dad was an accountant, and while I'm not, I always realized the importance of getting at least the basic understanding of the tax system to avoid overpaying on your taxes.
There really are two tax systems in the US - one for people who have a business and one for those that don't. Believe me, the advantages tilt heavily in favor to those who own their own business!
If you join our team in Xango, YOU own your own business.
The only requirements to write-off your home base business expense is intent to make a profit and to set up a tax file. If it were necessary to make a profit, the Friendly Skies of United Airlines would have vanished years ago.
Sign up on 1 case ADP – earn 30% commission on the initial order of anyone you enroll. 5% to 10% thereafter on monthly reorders.
Sign up on 2 case ADP – earn an additional 15% on the initial order of anyone they enroll. 5% to 10% thereafter on monthly reorders.
When you receive a 1 case automatic shipment each month, you're sending a signal to your taxman that you intend to earn 30%
commission on every person you enroll as a customer. It makes no difference whether you enroll 1 customer a day or 1 customer
a year.
Your intent is to earn 30% whenever you do.
One other simple thing you can do is get a credit card and or a checking account that is used exclusively for your business. This not only simplifies your accounting, it further strengthens your position as a business in the eyes of the tax man.
I learned a lot about taxes by reading a great ebook titled "It's How Much You Keep That Counts" It is well worth the small investment to educate yourself and save literally thousands of dollars each year on taxes.
Another key piece to your tax strategy is keeping track of your expenses. I use and highly recommend a software package specifically designed to organize your MLM tax file that has really helped me stay on top of my business. It's called "MLM Tax Helper" and there is a free download available on the internet as well.
The key to this process is to take ownership in your business. Learn the simple steps you can take to put more money in your pocket immediately -- regardless of your success in building a network.
|
