Save on YOUR Tax Return
and help others.
If your prospect has a W-2 job, or a small business,
they should know that by starting a home business
with you they can likely save enough on their taxes to
pay for their initial and monthly investment
for a life enhancing product.
Small Business has always been the backbone of our economies,
so, in my opinion, and I assume the bulk of the 100 million plus
Network Marketers who operate Small Home Based Businesses
Understand that the respectable MLM’s companies
will contribute to growth and prosperity.
The more money in circulation and the faster it circulates, the
stronger the economy becomes. Small businesses spend money to make money,
and then they spend more money to make more money.
So, the key to economic recovery is getting lots of businesses started quickly.
That's where we come in.
At the moment it seems like half the world is broke, and the
other half are afraid to spend the money they do have, so how do
we get a bunch of new small businesses going?
Share the benefits
You should always give YOUR PROSPECTIVE RECRUIT the
information about tax refunds that are available to them.
When they agree to start, and to run, a part time home-based business,
to run it with profit intent, and to keep adequate business records
they can find a world of difference in their taxes.
Most Governments world wide say, "If you do that, I'll cut your taxes by a
$ thousands or more every year, starting RIGHT NOW,
and furthermore, I'll let you collect part of your additional Tax Refund
every payday, (pay roll deductions) all year long – that could be
$ thousands per year, for the rest of your "job" working life!)
You must work your business every week, be able to show you're
trying to make a profit, and you must keep adequate business records.
Out of the many tax breaks for home-based businesses, here are some:
1/. Home Office Deduction. $/week
(this may even lets you write-off part of your RENT or mortgage!).
2/. Business-Use of Personal Vehicles (this may be your BIGGEST deduction, particularly if there is more than one person involved in the business)
3/. Hiring your own Children- Now that’s an incentive to make money.
4/. The proportion of your out-of-pocket computer, phone,
internet and stationary expenses that relate to your home business.
5/. Meals and Entertainment (this deduction, with receipts, is totally safe!,
check daily limits)
6/. Combining Business trips with Pleasure trips (vacations can become tax deductions)
7/. Any furniture that you use for your office.
Ask your tax accountant
Exactly what tax breaks are available to home-business owners?
Keep receipts, car log book, record keeping will help bullet-proof your Tax Returns.
Sharing this information with associates will help them see the larger picture
That proactive people see when they begin to develop a business plan.
Sharing information should improve your Recruiting,
Closing and Retention and should help motivated people to
join your business even if they're broke!
Honestly, can you really afford to wait?
The cost of not having a home-based business, and of not
understanding the tax benefits that come with it, is quite large.
P.S.: I use an Accountant, I am not an Accountant. I recommend that
you check this out with your accountant for current deduction and rules.
Let me know some of the benefits I forgot... Appreciate it....
Showing posts with label opportunity. Show all posts
Showing posts with label opportunity. Show all posts
Thursday, August 5, 2010
Sunday, July 25, 2010
Network Marketing
Work from Home
Over the years in network marketing, I've worked with and
mentored lots of people. I've seen something consistently
through these years, perhaps you have noticed it to.
Let me digress for a moment.
Some years ago some friends of mine bought a restaurant.
They had to do all the paper work to get approvals and spent tens
of thousands to buy the equipment and set it up. Then buy
supplies, and hire employees. They worked long hours to build
their business. They didn’t have a holiday for two years.
Understand they had to pay a lot for rent, then all the other bills,
like electricity, gas, food and wages before they seen a dollar
come back to themselves. The interesting part is that during those
first two years, they never once considered quitting.
Yes they had some very difficult times and headaches with staff
but quitting was not an option.
Okay, now back to what I've noticed consistently among
network marketers – many have the expectation that their business
should be profitable within a few weeks or months and
if it's not they quit and are on to something else.
Here is the lesson I learned many years ago, that made the
difference between being a network marketing failure
and a huge success - once you have found a solid business, don't quit.
Quitting should not be an option. If it takes you a year to become
successful, so what. If it's 2 or 3 or 5, so what? Think about it for a
minute. What else are you going to do over the next 5 years
that has half the potential to give you the financial return and
time freedom for the rest of your life? Quitting should
not be in your vocabulary or your thoughts!
I know that so often network marketing is portrayed
as a get rich quick scheme. It’s not, think about a newly
planted bamboo or a tree, you look at it every day and
nothing much is happening. The bamboo is laying down its
roots first before doing much above ground.
Here's the key and your part in this picture. You've got to
find the first 2 people who are ready, willing, and able to
get out there and find their 2 people. Continue to work with
them until they are confidently building their business
on their own. If they give up, then enroll another person
in that leg and start again with them - helping them find their 2.
Your job is to get the multiplication down 4 levels.
Now, this is going to take some time, so have a long-term mindset.
Robert Kiyosaki (in his insightful new book,
The Business for the 21st Century)
says that we should have at least a 5 year mindset for
our network marketing businesses. Don’t give up your job or
other source of income, so you can continually re-invest the
profits back into your business. This will result in that
slow growth at first, but later the tremendous exponential
growth bamboo has that will result in you living the
life that most people only dream about!
So, never, never, never, never quit!
Keep talking to new people and helping those who join to
multiply and in time you will have bamboo forest.
Back to the restaurant for a minute. Of the staff my friends
spent years training, 3 opened restaurants in competition.
Now that’s tough.
Another mate with a landscaping business
had the same experience with a trainee starting their
own business in competition.
It happens all the time in real estate to.
In networking if you build a solid relationship,
both of you can benefit.
Have a great day!
Over the years in network marketing, I've worked with and
mentored lots of people. I've seen something consistently
through these years, perhaps you have noticed it to.
Let me digress for a moment.
Some years ago some friends of mine bought a restaurant.
They had to do all the paper work to get approvals and spent tens
of thousands to buy the equipment and set it up. Then buy
supplies, and hire employees. They worked long hours to build
their business. They didn’t have a holiday for two years.
Understand they had to pay a lot for rent, then all the other bills,
like electricity, gas, food and wages before they seen a dollar
come back to themselves. The interesting part is that during those
first two years, they never once considered quitting.
Yes they had some very difficult times and headaches with staff
but quitting was not an option.
Okay, now back to what I've noticed consistently among
network marketers – many have the expectation that their business
should be profitable within a few weeks or months and
if it's not they quit and are on to something else.
Here is the lesson I learned many years ago, that made the
difference between being a network marketing failure
and a huge success - once you have found a solid business, don't quit.
Quitting should not be an option. If it takes you a year to become
successful, so what. If it's 2 or 3 or 5, so what? Think about it for a
minute. What else are you going to do over the next 5 years
that has half the potential to give you the financial return and
time freedom for the rest of your life? Quitting should
not be in your vocabulary or your thoughts!
I know that so often network marketing is portrayed
as a get rich quick scheme. It’s not, think about a newly
planted bamboo or a tree, you look at it every day and
nothing much is happening. The bamboo is laying down its
roots first before doing much above ground.
Here's the key and your part in this picture. You've got to
find the first 2 people who are ready, willing, and able to
get out there and find their 2 people. Continue to work with
them until they are confidently building their business
on their own. If they give up, then enroll another person
in that leg and start again with them - helping them find their 2.
Your job is to get the multiplication down 4 levels.
Now, this is going to take some time, so have a long-term mindset.
Robert Kiyosaki (in his insightful new book,
The Business for the 21st Century)
says that we should have at least a 5 year mindset for
our network marketing businesses. Don’t give up your job or
other source of income, so you can continually re-invest the
profits back into your business. This will result in that
slow growth at first, but later the tremendous exponential
growth bamboo has that will result in you living the
life that most people only dream about!
So, never, never, never, never quit!
Keep talking to new people and helping those who join to
multiply and in time you will have bamboo forest.
Back to the restaurant for a minute. Of the staff my friends
spent years training, 3 opened restaurants in competition.
Now that’s tough.
Another mate with a landscaping business
had the same experience with a trainee starting their
own business in competition.
It happens all the time in real estate to.
In networking if you build a solid relationship,
both of you can benefit.
Have a great day!
Tuesday, April 21, 2009
Principles on Wealth
Warren Buffets principles on Wealth.
Our happiness is diluted and our peace is threatened by the financial
illness that has infected our families, organisations and nations.
Everyone is desperate to find a remedy that will cure their financial
illness and help them recover their financial health. They expect the
financial experts to provide them with remedies, forgetting the fact that
it is these experts who created this financial mess. Every new year,
I adopt a couple of old maxims as my beacons to guide my future.
This self-prescribed therapy has ensured that with each passing year,
I grow wiser and not older. I invite you to tap into the financial
wisdom of our elders along with me, and become financially wiser.
• Hard work: All hard work brings profit; but mere talk leads only to poverty.
• Laziness: A sleeping lobster is carried away by the water current.
• Earnings: Never depend on a single source of income.
• Spending: If you buy things you don't need, you'll soon sell things you need.
• Savings: Don't save what is left after spending; Spend what is left after saving
• Accounting: It's no use carrying an umbrella, if your shoes are leaking.
• Auditing: Beware of little expenses; a small leak can sink a large ship.
• Risk-taking: Never test the depth of the river with both feet.
• Investment: Don't put all your eggs in one basket.
I'm certain that those who have already been practising these principles remain
financially healthy. I'm equally confident that those who resolve to start practising
these principles will quickly regain their financial health. Let us become wiser and
lead a happy, healthy,prosperous and peaceful life.
Warren Buffet
Our happiness is diluted and our peace is threatened by the financial
illness that has infected our families, organisations and nations.
Everyone is desperate to find a remedy that will cure their financial
illness and help them recover their financial health. They expect the
financial experts to provide them with remedies, forgetting the fact that
it is these experts who created this financial mess. Every new year,
I adopt a couple of old maxims as my beacons to guide my future.
This self-prescribed therapy has ensured that with each passing year,
I grow wiser and not older. I invite you to tap into the financial
wisdom of our elders along with me, and become financially wiser.
• Hard work: All hard work brings profit; but mere talk leads only to poverty.
• Laziness: A sleeping lobster is carried away by the water current.
• Earnings: Never depend on a single source of income.
• Spending: If you buy things you don't need, you'll soon sell things you need.
• Savings: Don't save what is left after spending; Spend what is left after saving
• Accounting: It's no use carrying an umbrella, if your shoes are leaking.
• Auditing: Beware of little expenses; a small leak can sink a large ship.
• Risk-taking: Never test the depth of the river with both feet.
• Investment: Don't put all your eggs in one basket.
I'm certain that those who have already been practising these principles remain
financially healthy. I'm equally confident that those who resolve to start practising
these principles will quickly regain their financial health. Let us become wiser and
lead a happy, healthy,prosperous and peaceful life.
Warren Buffet
Wednesday, March 25, 2009
Millionaire Traits
Do you share these “Millionaire” traits?
(My favourite is number 7)
In Thomas Stanley and William Danko's book "The Millionaire Next
Door" – they revealed that most millionaires really could be the
folks next door. They don't drive a new car every year or jet
around the world. In fact, sometimes they're the least likely
person you would suspect.
Here are 7 commonalities that most millionaires share. How do you
shape up with these characteristics?
1. They live below their means. Half of the millionaires
interviewed did not live in high-status neighborhoods. Instead,
they lived in average neighborhoods in average houses. That's how
they were able to sa~ve money. The other half that did live in
high-status neighborhoods only moved there after they had become
wealthy.
2. They lead frugal lifestyles. Most do not b~uy $5,000 suits,
expensive boats or even new cars. You might say they're tightwads.
They sh~op for bargains and always negotiate for a better deal.
3. They're self-employed or own their own businesses. They
also love their work -- they connect with their jobs and feel very
passionate about them.
4. They plan and study investments. The majority of
millionaires invest heavily and sp~end a large amount of their
time studying their investments or seeking advice from financial
advisors.
5. They weren't always at the top of their class. Another
surprising commonality among the millionaires interviewed was that
they didn't all have advanced degrees or graduate at the top of
their classes. Some didn't even go to university and a few didn't
even finish high school.
6. They're self-made. The majority of millionaires received
no family money and do not plan to give their own children a lot
of money. They want their children to succeed the same way they
did -- on their own.
7. They’ve failed more than most. They above all others are
not afraid to have a go and keep trying against all odds.
Don’t think you have to fail before you succeed. It’s not a
pre-requisite. I understand the importance of turning failures
into valuable lessons, the “never-give-up” attitude is honourable
but with the right advice and guidance – you can stack the odds
heavily in your favour and be successful WITHOUT
leaving a trail of disaster behind you.
"People who never try, never fail,
or perhaps their whole life is a failure."
A close friend of mine asked about the million dollars,
and I answered that people like you and me are more into
helping our families and communities than accumulating
paper.
(My favourite is number 7)
In Thomas Stanley and William Danko's book "The Millionaire Next
Door" – they revealed that most millionaires really could be the
folks next door. They don't drive a new car every year or jet
around the world. In fact, sometimes they're the least likely
person you would suspect.
Here are 7 commonalities that most millionaires share. How do you
shape up with these characteristics?
1. They live below their means. Half of the millionaires
interviewed did not live in high-status neighborhoods. Instead,
they lived in average neighborhoods in average houses. That's how
they were able to sa~ve money. The other half that did live in
high-status neighborhoods only moved there after they had become
wealthy.
2. They lead frugal lifestyles. Most do not b~uy $5,000 suits,
expensive boats or even new cars. You might say they're tightwads.
They sh~op for bargains and always negotiate for a better deal.
3. They're self-employed or own their own businesses. They
also love their work -- they connect with their jobs and feel very
passionate about them.
4. They plan and study investments. The majority of
millionaires invest heavily and sp~end a large amount of their
time studying their investments or seeking advice from financial
advisors.
5. They weren't always at the top of their class. Another
surprising commonality among the millionaires interviewed was that
they didn't all have advanced degrees or graduate at the top of
their classes. Some didn't even go to university and a few didn't
even finish high school.
6. They're self-made. The majority of millionaires received
no family money and do not plan to give their own children a lot
of money. They want their children to succeed the same way they
did -- on their own.
7. They’ve failed more than most. They above all others are
not afraid to have a go and keep trying against all odds.
Don’t think you have to fail before you succeed. It’s not a
pre-requisite. I understand the importance of turning failures
into valuable lessons, the “never-give-up” attitude is honourable
but with the right advice and guidance – you can stack the odds
heavily in your favour and be successful WITHOUT
leaving a trail of disaster behind you.
"People who never try, never fail,
or perhaps their whole life is a failure."
A close friend of mine asked about the million dollars,
and I answered that people like you and me are more into
helping our families and communities than accumulating
paper.
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