At the birth of this nation Benjamin Franklin was quoted as saying, “Our new Constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes.” There are many who would suggest death to be the less painful of the two. Taxes affect everyone in one form or another but if you’re just starting your first MLM business, you might be surprised to learn about the tax benefits of your new position. If you start tracking your tax-deductible events today, you can start saving money—potentially much more money than you’ll earn on commissions in your first year.
For the small business owner, sole proprietor, independent contractor, or home-based business owner the tax code and its associated IRS regulations can be a daunting and expensive obstacle. Starting a home-based business is one way to increase tax deductions. You can shift many personal expenses to business expenses and thereby lower your taxable income. The result is a net increase in what you can legally and ethically “take home” when it comes to income. Taking advantage of the tax laws in this way isn’t simple, but using Deductr can make it simple.
What is Deductr?