I don't know about you, but I spend the last days of March and the first days of April EVERY year finding anything and everything to do that will distract from doing them. Let's face it, who really likes sitting still while sorting out bookwork, digging out the expense receipts, gathering together the mileage, etc... and so on ad infinitum. I know I sure don't.
Invariably, I find plenty of things to do that are not remotely related to my homebased business taxes (big surprise) and THE DEADLINE sneaks right up on me. And there is generally a last minute call to my tax preparer ... 'You're gonna have to file another extention for me Julie, thanks'.
Things kind of changed for me last year though. Oh, I'll probably have to file an April extention again, but I am really only missing the mark by a couple of weeks (as opposed to months) this year ... huge improvement!
You may be wondering what it is that's changed. What is it that has me so much better organized and feeling confident in the many business deductions that I will be claiming this year?
Would 'ya believe it's a book? That's right ... a book.
This has got to be the most sensible and easy to 'get' tax book that I've ever read. And I've read (and not 'gotten') plenty. It's a book geared towards homebased business taxes. Since MLM's are considered homebased businesses, it's a perfect fit for doing our MLM taxes too.
There are so many juicy ways to deduct stuff you would never have imagined... things like:
- turning your kids allowance into payroll by hiring them 'part-time' in your homebased business
- a way that you can deduct 100% of medical related expenses including things like glasses, dental exams, chiropracitc, etc...
- claiming a large portion of your home's (aka. home office building) general maintenance
Until next time :)
Andrea
Mentoring for Free
www.mentorfirst.com
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