So you just started your MLM home based business and you’re wondering how you are going to finance it. You need to pay for advertisement either through traditional advertising or on the internet. From promotional materials, product samples, internet access fees, website fees, business cards, etc. it can add up to a reasonable sum in a hurry. But don’t stress it. All these expenses normally can be 100% tax deductible. In fact any expense you can incur in the pursuit of your home based business is probably tax deductible. The biggest deduction to your business may be the keys to your car. Many who have a MLM home based business can honestly and legally deduct $4,000-$5,000 or more a year. All you need to do is keep a 90 day log once a year showing destination, date, purpose, and miles traveled for each trip. These are the only records you need to keep. Even family trips may be tax deductible for your business. Yes, you can combine business with pleasure if you know the rules. Travel costs, hotels, ground transportation, tips, all can be 100% tax deductible. Even 50% of all meals can be deductible. For your vacation to qualify for a deduction more than half of the days you spent on vacation need to qualify as business days. Travel days be counted as business days. Any meetings no matter no matter how long they last count as business days.The health care costs for your entire family can be tax deductible from your home based business. Regular taxpayers can only deduct health care costs that only exceeds 7 1/2 % of their taxable income. Owning your own business gives you the option for writing off non-reimbursed health care costs for you and all of your family members.Your probably thinking, “yeah this is great but I don’t want to wait until April 15 to get my refund”. Fact is, you don’t have to wait until April 15 to benefit from the tax savings. You will be able to collect your additional refunds throughout the year. This is how it works. If you have $1,000 per month withheld from your regular job you will be increasing your refund by about $4,800 a year. That would mean you now need to have $400 less per month withheld from payroll taxes.So how do you qualify for these MLM home based business tax deductions. There are only three basic requirements needed to qualify for home based business deductions. 1. Be trying to produce a profit. 2. Work your business on a regular basis. 3. Keep good records. Note: you don’t need to make a profit to qualify for these deductions. You just need to be working toward making a profit.A final disclaimer- I am only a MLM home based business person like you so be sure to consult a licensed professional accountant before implementing these deductions when doing your taxes. I am only giving you tips and ideas on how to get started on creating a very profitable home based business. Wouldn’t an extra $400-$500 a month get you started on a profitable business venture. I’m sure it would!Get my 7 free training tutorials that are packed with some of the best MLM strategies all in simple step by step instructions.

The internet home based business is a growing industry and one that is here to stay. Believe it or not, many people today are building an internet home based business to help grow their traditional MLM. If you are struggling with your MLM, you can do it too. Let’s show you how.First let’s look at the failings of building a traditional MLM. I think MLM’s are a wonderful business. Having been involved with an icon in the MLM industry I know how hard it is to succeed in the MLM industry. There is a stigma involved with the MLM industry and for whatever reason, many people are just negative to the idea. But the fact remains, many people today want to be involved in some form of home business. The other fact is many millions of people are on the internet every single day looking for an online or home based business opportunity.What is the main draw back to the traditional MLM? We can sum this up in one short sentence. The answer is, finding people who are truly looking for an opportunity. Even despite the stigma of the traditional MLM icon, if you find someone who is truly looking and can set them down to honestly look at the opportunity; they will almost always see it. But the drawback is, you can only approach so many people in a given amount of time. You have to weed through the non lookers to find the legitimate lookers. And usually the case is before you find enough people to build your business, most people will burn out. So how do you efficiently find legitimate people who are really looking to build their own business from home? The answer, build an internet home based business and advertise for them.The key is to get them to come to you, and you can do that with an internet home based business. Remember, there are many millions of people on the internet every day looking for a home based business opportunity. Wouldn’t it be wonderful if just a small percentage of them would seek you out for your opportunity? If only a small percentage of those got in with you, that is a lot! And remember, there will be many more millions online looking again tomorrow! So, how do we find these people?You can find them by building your own online business. Let’s say you had a hundred or so small sites on the internet that were seen by hundreds if not thousands of people every day, and you had a small add for your opportunity, don’t you think some of those people would get a hold of you to see what it was all about? And remember, those sites would be working for you twenty four hours a day, seven days a week three hundred and sixty five days a year. There’s no way you by yourself could do that. And just what if you could be making a high six figure a year income with those sites apart from your traditional MLM? Wouldn’t that be incredible too?Well it can be. We can teach you how to build a successful internet home based business that will do all that and more. It all depends if you are teachable and willing to work from home in your spare time to create this business. The internet is a growing industry, and there are billions of people a day on the internet searching for something. Why not learn how to capitalize on it too?

Estimating your assets value:

Typically, one of the first questions a business owner will ask me is, “how much will the assets bring at an auction”. After taking the time to review the assets, the auctioneer should give the client a conservative estimate of the sale based upon his experience and the current market trends. It is important that the company give realistic expectations so the seller can make informed decisions based on their best interest.

Compensation and Expenses:

Is the company you are considering working for you or against you? The agreement you decide may determine this.

A business owner should carefully consider how the auction company is compensated. The most common commission structures include: straight commission, outright purchase of assets, guaranteed base with a split above to both auctioneer and seller, guaranteed base with anything above going to auctioneer or a flat fee structure.

In a straight commission structure, the company is paid an agreed upon percentage of the total sale.

In an outright purchase agreement, the auctioneer simply becomes your end buyer. The company purchases your assets and relocates them. While this can be an option in some unique situations, keep in mind that they will want to purchase your assets at a very reduced price to make a profit at a later date.

In a minimum base guarantee, the auction company guarantees the seller that the auction will generate a minimum amount of sales. Anything above that amount either goes to the auction company or split with the seller. While a seller might feel more comfortable doing an auction knowing that he is guaranteed a minimum amount for his sale, keep in mind that it is the best interest of the auction company to secure a minimum base price as low as possible in order reduce their financial liability to the seller and secure higher compensation for the sale.

In a flat fee structure, the auctioneer agrees to show up for the sale and call the auction. There is no incentive for the auctioneer to get the best prices for your assets. The auction company is compensated regardless of the outcome of your sale.

What is the best option for business owners? In my experience, an agreed upon straight commission structure. This puts the responsibility on the auction company to offer the best outcome for everyone involved. There is an incentive for the auction company to work hard for both parties, set up and run a professional sale, get the highest bid and sell every item on the inventory. Successful auctions translate to a higher bottom line for both the seller and the auction company.

Auction Expenses:

In most auction agreements the expenses to conduct an auction are passed to the seller. If the auction company pays for the expenses, it is simply absorbed in higher commission rates.

All expenses should be agreed upon in advance in a written contract. Typical expenses will include the costs of advertising, labor, legal fees, travel, equipment rentals, security, postage and printing. A reputable auction company will be able to estimate all expenses based upon their experience in previous auctions. An agreement should be actual costs charged as expenses, not an estimated amount.

Advertising is typically the highest cost in conducting an auction. The auction company needs to set up an advertising campaign that will promote the sale to its best advantage and not overspend to simply advertise the auction company.

Once the auction is complete, the auction company should provide a complete breakdown of all expenses to the seller, including copies of receipts within the auction summary report.

Buyer’s Premium:

What is a buyer’s premium? If you attend auctions regularly, you are very familiar with this term. The auction company charges a fee to the buyer when they buy an item at auction.

The buyer’s premium has been around since the 1980′s and is standard auction practice. It was first used by auction houses to help offset costs of running brick and mortar permanent auction facilities. Since then, it has spread to all aspects of the auction industry. It is prominent in online auctions and allows auction companies to cover added expenses incurred from online sales.

It is the responsibility of the auction company to provide clear disclosure of the buyer’s premium to both the buyers and the sellers. Those not familiar with auctions are often taken back by the buyer’s premium. They looked upon it as an under handed way for the auction company to make more money. Reputable auction companies will provide full disclosure within the auction contract, advertisement and bidder registration.

Typically, an auction company will charge online buyers a higher buyer’s premium percentage than those attending an auction in person. Extra fees are incurred with online bidding and are charged accordingly to online buyers. This provides the seller a level playing field for both online buyers and those attending the auction in person. Without the buyer’s premium, there is no way to do this.

Pre-Sales:

We’ve all been there. We’re looking forward to attending an auction only to find that some items were sold prior to the auction date.

As an auctioneer with over thirty-six years of experience, I can honestly state that pre-sales will hurt an auction. When a company decides to liquidate their assets, it is easy to sell off high-end pieces of equipment through online sources, equipment vendors or to other businesses. The seller receives instant cash and avoids paying a commission to an auction company.

Auctioneer’s find themselves appearing to acting in a self-serving capacity when potential clients say they are planning to sell off parts of their inventory prior to an auction. It’s hard not to consider the auctioneer’s commission when they warn you not to pre-sell anything. Yes, the auctioneer wants to earn a commission on those sales but it is more important that the auctioneer protect the sale from potential negative backlash that comes from pre-selling. The buying public knows when an auction has been “cherry picked” prior to the sale and it reflects in their bidding. It becomes a sale of “leftovers” and that impacts prices.

A buyer who purchases prior to the auction usually does not attend the sale. They already bought equipment at a good price with no competition. If they do attend the auction, they tend to let others know of their great pre-sale purchases which again, impacts prices and the overall excitement of the sale.

It is important to understand that auctions work best with a complete inventory. You want competition on your higher end equipment. The easy to sell items make it possible to gain respectable prices for hard to sell items.

When a business owner decides to liquidate their equipment assets, there is only one opportunity to do it right. Hiring a reputable auction company will assist you with a professional, orderly and timely liquidation.