Friday, August 29, 2008

Fund Your MLM - The Self-Sustaining Commute

Owning your own business is a great way to increase your total tax deductions. In fact because MLM businesses have a small start-up just one tax deduction, such as the "business to business" deduction, can easily fund your MLM basic operating expenses. With today's high gas prices that's a really big deal.

So what is this "business to business" deduction, & what do gas prices have to do with it? This one is for those who have a tax paying job & a business they operate primarily out of their home office. When you commute from your home office to your job & back again all that travel is a tax deductible "business expense" because you are commuting from one business address to another business.

"Sounds great", you say. Yes, but to take this deduction you better be able to prove you deserve it AND that it exists. Yes, you read that correctly. When it comes to many legal tax deductions the IRS often considers you guilty until proven innocent. So you must be able to prove the law exists so the folks who process your tax return don't kick it back as disallowed.

So, can you site the laws supporting your right to take the business to business deduction you spent the whole year earning? Probably not, & if you expect your local CPA or H&R Block filer to know this information, then chances are you are out of luck. You see, the IRS is in the business of collecting revenues … not helping people learn how to pay as little revenue as possible. You need a MLM tax expert in your corner.

If you have a business that you operate primarily out of your home & you work a W-2 job somewhere else, then you can claim that commute on your tax report. But before you buckle up & grab the wheel you must be able to cite the supporting federal laws for any deduction if you want the IRS to let you use that money to help fund your MLM. That is why I rely on the MLM tax pro Ron Mueller to help me out. If you'd like a copy of Ron's latest email letter to me on the business to business tax deduction, then shoot me a message at:

BillTessore@gmail.com

I appreciate you,

Bill Tessore

2 comments:

Gary McElwain said...

Bill, thanks for bringing some of these tax issues to my attention.
I'll have to email you for the report.

Thanks again

Gary McElwain

Bill Tessore said...

Hi Gary,

Your welcome. That is what being a member of Mentoring For Free is all about ... helping others. After all, I think it's pretty obvious the IRS is not going to. I look forward to hearing from you so I can forward that report.

I appreciate you,

Bill Tessore