Tax deductions for direct sales are one of the main benefits of working from home.
The operation of a home-based sales business paves the way for many income tax deductions.
Have you ever noticed that all the rich have a business?
- Did the case make them rich?
- Or did they have a deal because they were rich?
There is a good chance that they have developed a business to benefit from certain tax benefits, which has helped them to acquire more wealth.
The home-based business is a legitimate income tax reduction program that the IRS / CRA / ATO (or whatever tax agency called where you live ) established.
Anyone who owns a home based business has a set of legal tax reduction to use to his or her advantage.
Direct Sales Tax Deductions = Recruitment Tool
Tax deductions on direct sales are a great incentive to recruit !!
We discuss this in detail in many Cash Flow Show programs. The complete business plan template is included in the program The Complete Program on Direct Selling.
Starting a business seems a lot of work, but save money … well, who could say no ?!
If you are a person or a family who is having financial difficulties, the fastest way to increase your cash flow without major commitment is to start a direct sales business or network marketing.
The income generated by your new business will of course be useful and the immediate reduction in income tax will substantially increase your cash flow!
When a direct seller publishes a direct marketing plan that demonstrates an intent to make a profit, he saves taxpayer money!
Save money with direct sales tax deductions
For example, in a direct selling business, many things on which you spend money will become a deduction from income tax.
- Cell Phones: Even Shared Family Plans
- Subscriptions to magazines or cable television, depending on your business, may be considered market research
- The mileage to and from the general errands you make for your family can be deductions provided you intercalate business runs and gather daily activities. Imagine deducting 60-80% of all your miles traveled, at 53.5 cents per mile …. This will really accumulate quickly!
- Meals and entertainment can also be deducted provided you talk business and ask recommendations from friends.
- Do you take vitamins? When you are in a vitamin network marketing business, vitamins can be deductible.
- Do you buy provisions? In a food-related business, a good portion of your grocery bill can be deductible for market research, even if your family eats food.
- Do you give an allowance to children? Your children are 7-17 years old? How would you pay for shopping at home, or useful things that they do, and then take those payments as a reduction in income tax?
NOTE: We do not give you legal advice or advise you on your income tax. Please talk to a knowledgeable accountant specific to direct sales about your personal situation.
Do you begin to see why all people with money have a business?
These are things you will always spend money on. When you have a direct sales business, they become income tax deductions.
This alone will increase your cash flow even if your business does not earn money immediately.
Deduction from income tax – Home Office
Another income tax reduction strategy available to direct sales advisers who establish a home office is the home office deduction.
He never ceases to amaze how many people do not benefit from this strategy.
Many successful people say, "I do not want to send a red flag." Or "My accountant does not leave me because it's a red flag."
The government does not create laws simply to "catch" people and get them in trouble when someone uses the law as it is written.
There are no flagpoles at the tax office!
Think about it …
When you open a store at the mall or at a mall, you buy toilet paper, floor cleaners, light bulbs, maybe you put a sign in and even wash the windows, take out the trash, pay or cut the grass.
As a business owner, you can deduct all of your taxes. This will not put a red flag because these are business expenses.
Everyone can understand that.
In your home-based business, you still have all these costs associated with your business. Only now, they represent a percentage of your expenses at home.
The Home Office Deduction recognizes that as a home-based business owner, you can deduct a percentage of your electricity, gas, waste, phone, toilet paper, household products cleaning, etc.
This is the home office deduction.
Recruitment with deduction of tax on direct sales
The deduction of tax on direct sales should be a major goal in sharing your chances.
The little glitters in your show to create the desire to pay less taxes will go a long way towards creating the desire for opportunity.
Saving money seems easier than starting a business !!
Share this article with your team and show them how to recruit by leading the tax savings!
A little education goes away when you focus on growing a team.
NOTE: We do not give you legal advice or advise you on your income tax. Please speak to a knowledgeable accountant specific to direct sales about your personal situation.