Tax Benefits and Services for Network Marketers in Tampa by American Dream CPA
America has TWO Tax Systems – one for individuals and one for businesses.
Individual system - average tax rate of 28%
Business system - average tax rate of 10%
Want to know more about moving from the 28% rate to the 10% by operating more like a business?
We can show you that it can be much easier than you think! After all, Facebook, General Electric and all the big companies save billions every year by utilizing the business tax system – and you could save thousands every year.
I have been involved in the network marketing industry for my whole business life. As a participant, as a tax preparer for multi-level marketers, and as a CPA for network marketing companies. I have become an expert in the industry and have developed a love and respect for the work. I have always appreciated the opportunity network marketing offers people to start their own business with a tremendous support system and a low cost of entry.
I am also aware that because of the small financial commitment and the reputation of the industry along with the expectation that the multi-level marketer will get financial rewards quickly that there is a large fall out rate in participation.
Does the following story sound familiar? When asked for a profit & loss statement, a mileage log to document your auto expenses, how much time you can prove you spent on your business, and other records the IRS requires, you explain that you do not have a few hours a week to properly document your business and also maintain the business. The tax preparer reminds you of this same discussion last year and suggests you hire a bookkeeper. The tax preparer again suggests you only take a few of the expenses since the IRS would probably not consider this a real business and taking these expense may lead to an audit.
This is the annual insult when you go to get your taxes done by someone who is not proactive and familiar with the industry.
By this time, you might agree with those who say the American Dream is dead and give up. Do not give up! Even the U.S. government’s small business administration has come to the defense of home-based businesses. Their website states, “What do Apple Computer, Hershey's, Mary Kay Cosmetics, and the Ford Motor Company have in common? These well-known corporations all started out as home-based businesses. In fact, more than half of all U.S. businesses are based out of an owner's home.”
You need to find a CPA firm that has knowledge about your industry and is proactive about solving your tax problems. We have that knowledge and expertise. Review our website and you will see that we are the best choice whether you are just starting in the industry or are a seasoned professional. We know of techniques and resources that allow you to document your business activity in less than 2 minutes a day. We know how to prepare taxes so that your chance of being audited are less than one in one thousand.
The tax money saved is often more than the actual direct out of pocket costs of the opportunity. You get to keep these savings and reinvest them in building your business as long as you are in business. This is a powerful incentive to keep active, engaged and motivated in your business.
I am available for conference calls and want to support you in building your business.
It is true that we can show you how to save thousands of dollars in taxes year after year. We have been doing this since 1986. It does not matter if you live in the Tampa Bay area or anywhere else. We can serve your needs. Call now so we can evaluate your situation and explain how you can start saving taxes now!
Adrian Keith Skane, Senior Partner, CPA