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MLM Tax Question

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Here is some timely advice about Network Marketing and Taxes…

SmartMoney.com:

QUESTION: If you run a small business from home, such
as Avon, Mary Kay or PartyLite, and make under $1,000 in income, do you
have to claim the income?

— Susan K. Suazo

ANSWER: Ahem, we won’t tell the IRS you asked the
question. There’s no magic number — the government expects you to
declare any income you’ve earned, no matter how small. But here’s
something to consider. Many people who run side businesses (we’re
assuming that’s what yours is) favor keeping that extra income under
the table, despite the tax rules. But you might actually be entitled to
a loss, so in this case (and hopefully others) it could pay to follow
the law.

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"Ty Tribble is an Internet entrepreneur, author and Work At Home Dad who lives in Seattle, Washington with his wife, Richelle and two children, Emma and Tyler. Ty has been featured in Entrepreneur and Success From Home magazine and is considered by many as the # 1 blogger in the world on the subject of Network Marketing. Author of the book, ‘Double Your Income with Network Marketing’, Ty teaches lead generation strategies through social media and blogging to tens of thousands of Network Marketers around the world."

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