YE is Here!

I'm a member of Sta.rtup.biz and receive the daily member polls and surveys via email. Today, something was shared that I had no awareness of: IRS deductions for monthly membership and/or autoship fees for the self-employed!

Naturally the source of the above mentioned blog posting can better explain than I so here it is in entirety!

Let's Get PAID!
YEisHere

************************************************************************
WHAT IF THERE WAS A WAY TO EAT YOUR CAKE AND HAVE IT TOO?

* Posted by Dr. Robin Rushlo on June 4, 2009 at 1:00pm
* View
Dr. Robin Rushlo's blog

We have all heard this saying over the years. According to Wikopedia, this saying means “To have one's cake and eat it too or simply have one's cake and eat it (sometimes eat one's cake and have it too) is the instance of an individual consuming, exhausting, taking advantage of or using up a particular thing and, then, after that thing is gone or no longer reasonably available, still attempting to benefit from or use it.” Generally this is a negative staying. But what if I told you there is a way to consume something and benefit from that same something.

I know it’s hard to believe, but what if there were such a program? Wouldn’t you want to take advantage of it?

Let’s look at all the household items you use every month. Things like laundry soap, fabric softener, glass cleaner, and dish soap. I think it is safe to say that the average family spends from $50.00 to $175.00 a month on these items. So, you ask, how do I get these double benefits just from cleaning my house?

It gets even better. You can also get this benefit for losing weight and even having some snacks.

Dr. Robin, you ask, how can this be? When I buy something the only benefits I get is the enjoyment or weight loss or a clean house. When those products are gone they are gone and so is my the money I spent on them. SO what in the world are you talking about?

Ok here is the answer. The Government and the IRS have stated that if you are an associate, distributor or IBO (independent business owner) for a network marketing company, and that company requires you to purchase a certain amount of product to stay qualified (often referred to as autoship) to receive your commissions, the amount of those purchases is a business expense, even if you use these products yourself.

Even though I have had this verified by several attorneys and tax specialists, as always check with your own attorney or tax expert.

Here’s how it works. If company M says you have to get 70 points (BV, CV, etc) to maintain your position in the company and be eligible for commissions. The cost is $85.00 to obtain those 70 points. Then the $85.00 worth of products that Company M required you to purchase is tax deductable as a business expense. This deduction applies even if you use these products yourself in your own home. If you joined Company M, the benefits would be as follows:

1. Business expense of $85.00 (tax write off)

2. You stay qualified for your commission checks

3. You get use dollars you are currently spending to clean your house, lose weight, or just have some great snacks (redirection of funds, that is no increase in spending) to stay active in Company M.

4. You now have another stream of income (commissions from Company M) and you can potentially make enough in commissions to pay for the products!

This can apply to any number of companies and lots of different products. If you would like more information on how this can work for you, contact me at drblindguy@gmail.com

What are you waiting for? No increase in spending and you get a clean house or to drop off pounds or get some great snacks. Plus you get the tax benefit. Wow what are you waiting for? Start saving money today!