07th January 2011
One question often asked by Network Marketing / MLM business owners is “How Much Can I Deduct for Travel, Hotel, Meals and Convention Expenses?"
This is an area which the IRS auditors watch closely. To avoid unwanted IRS attention, you need to know...
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07th January 2011
If I Take the Home Office Deduction, Will it Increase My Risk of Getting Audited?
It's surprising how many network marketers actually overpay their taxes. There are common misconceptions Network Marketers have in preparing their tax returns that can c...
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20th December 2010
Two questions frequently asked by Network Marketers are “What kind of business records do I have to keep for the IRS?", and “What’s kind of record-keeping system should I use in my business?"
Operating a business without paying attention to record-keep...
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20th December 2010
One question frequently asked by Network Marketing professionals is “How long should I keep my tax returns and tax records?"
The IRS normally has 3 years to audit you and your business, starting from the date you file your return. So, that makes 3 ye...
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18th December 2010
Network Marketers often ask “What’s Deductible – and what’s not—in a Multi-Level marketing business?"
Having a Multi Level Marketing business is what I call the “#1 tax shelter for the little guy". Whether you work the business part-time, or are a f...
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18th December 2010
Network Marketing / Multi Level Marketing professionals often ask me “What are my chances of an IRS audit?" Many others ask “If I overpay my income tax, will that make me audit-proof?"
First off, the odds of having the IRS select your tax return for...
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15th December 2010
One of the questions that Network Marketing / Multi Level Marketing owners ask is “What do you have to do to qualify for the home office deduction?" There are strict requirements you must meet in order to qualify, and it pays to “know the (IRS) code" to ...
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