The Federal Tax Code was written by our friends in Government. Most of whom are business owners or Married to one. It is no surprise that owning a business and more specifically a home-based business entitles one to certain tax advantages. Being able to deduct a portion of your mortgage, rent and other monthly expenses comes with the territory.
This luxury does come with some headaches. Possibly the most frustrating time for independent distributors in a Network Marketing company is the dreaded tax season. All of a sudden an entire year of little or no planning and spotty record keeping by these work at home professionals can catch up to them. The result is a mountain of stress, paperwork and accountant bills.
A possible solution is personal finance software such as Quicken or Microsoft Money. Experience will prove these do little to lesson the blow. Although useful for small to medium sized business, these programs were not designed for a home-based-businesses. Many home business owners find they are too complex, difficult to learn and filled with many features that are not needed. Continue reading ‘Software For Network Marketers Simplifies Tax Time and Record Keeping’ »