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.
Five Tips for Selling at Live Auctions
Ah, the old-fashioned country auction! The idea of a country auction conjures up certain images for people. The image of a fast-talking auctioneer offering up an antique table or chair is a popular example.
People who are buying household goods or collectibles are looking to get their items at the lowest price possible. However, the people who are selling their items at auction are hoping for the highest price!
Unless a person is in the business of buying and selling antiques or other items, not a lot of thought goes into how goods are prepared for sale via the auction process. However, if you are one of the growing number of people using auction venues to sell your collectibles or other inventory, there are a few things to learn first about how to sell at auction before you bring a truckload of stuff over to the next event.
Tip 1: Make sure the things you want to sell are a good “fit” for the auction house you’ll be using.
Never bring a load to an auction house without actually having been to one of the previous auctions. It’s important to get a feel for the type of goods that the house sells. For example, at one very rural country auction it was common for the owners to sell live chickens, pots and pans, car parts, and farm equipment.
After close investigation, this would not be the right venue for selling your daughter’s “Hello Kitty” collection. On the other hand, the spare John Deere parts that you bought at last week’s yard sale might be just the right thing for the buying crowd at this auction.
Tip 2: Be sure you clearly understand the terms and policies of the auction house.
Visit with the auctioneer ahead of time. Call to find out what the best days and times are to visit. One of the worst possible times to drop in for an informational visit with an auctioneer is the day of the auction. Call ahead and ask. While you’re at it, find out what are the best days and times to drop your stuff off.
Once you have a little time with the auctioneer, you’ll be able to find out what type of commission he or she takes from consigners (which is you), and what type of paperwork might be needed. Some auction houses send out Form 1099 tax forms at the end of the year. An auctioneer may need to see your identification and have you fill out a W-9. Be prepared.
Find out what happens to your items if they don’t sell. For example, some auctioneers may have a minimum starting bid. If, for some reason, one of your items does not sell, it may be grouped with another one of your pieces. Know the auctioneer’s strategy beforehand so that you aren’t surprised on pay day.
Tip 3: Make sure the auctioneer knows what you’re selling.
It might be perfectly obvious to you that the signed print you are consigning is a rare and valuable piece of art. However, the auctioneer may not know this particular artist. Make a note of anything particularly special about your items, and leave the note with the piece. Be sure to tell the auctioneer about it as well. He or she might determine that this is something to highlight on the company website or in the newspaper listing.
Tip 4: Present your items neatly.
No one likes to have to dig through a box full of grimy and greasy car parts to see what treasures might be in there. Separate the parts and lay them out on a flat, or use more than one box to de-clutter the lot.
There is no need to buy fancy display boxes. It’s easy enough to go to the local convenience store or supermarket and ask if you can have the emptied boxes or flats that they are discarding.
While it’s good to present clean items, take care not to ruin the value of anything by over cleaning. For example, if you find some old cast iron cookware, clean the obvious dirt and grime, but don’t scrub it to its original finish. For many people, this ruins the value of the item. So, clean and tidy and organized is the key here.
Tip 5: Don’t complain to the auctioneer if your stuff doesn’t sell for as much as you’d like.
The phrase to remember here is, “You win some; you lose some.” That’s just the way it is. There are some days where an auction house is loaded with people who all seem to want what you’re selling. There will be other days where the crowd is sparse, and the bidding is simply not competitive.
Remember that it’s in the auctioneer’s best interest to sell your things for the highest possible hammer price. But sometimes, it’s just not going to be a stellar sale. The auctioneer is only human, and is also disappointed if a sale doesn’t go as well as planned.
If you notice that every time you bring a bunch of goods to sell that you’re not realizing as much as you think you honestly should, try another auction venue and compare apples to apples. That is, bring the same types of items to the new auctioneer and compare the results.
Unless the auctioneer is particularly disagreeable or inconsiderate to you or buyers, there is no reason to confront him or her about a sale. If you find you just don’t care for an auctioneer’s style or methods, find another one. Believe me, there are plenty of them out there!
The primary thing to remember as you learn how to sell at auction is that the business is unpredictable at best. You will have good days, some not-so-good days, some great days. The more you sell, the more experience you will gain, and the more enjoyable the business will be.
Small Business IT Components and Choosing Small Business IT Support
Choosing your Small Business IT Support provider should begin with an understanding of the major components your IT system. Essentially, these components are what your small business will run on. There are components and software that can give you competitive advantages, make a good impression on new clients, and help you grow your business. Let’s look at the major components of your small business technology. 1. Workstations: Each workstation, or computer, is a productivity unit. Your team members need reliable machines to service your customers and contribute to profit margins. Each workstation is also an entry point to your network. Keep your data & client files safe with sound computer & network security.2. Networks: Networks are how your workstations are connected. They can be physical, with routers and cables, or virtual, like in cloud services. Network security is important to protect your data. For physical networks, network monitoring services can allow your IT technicians to be alerted when a problem is brewing, and have automated software, or your technician, correct the problem, before it interrupts your productivity.3. Servers: Like networks, servers can also be physical, or virtual servers (cloud computing). Servers empower you to do everything from housing and sharing data amongst your team, to serving email, syncing smartphones and more.4. Business Telephones: Clients call and you must answer. You must have enough business lines for clients to get through to you without frustration. Depending on the size of your business that may be 1, 4 or more lines. When a caller can’t reach you, voicemail is expected, and thus, it is a feature every small business should have. Additional features that can make your business look impressive, and ease caller frustrations could be auto-attendant, dial by extension, custom recorded greetings and messages. VoIP telephone systems offer all these features, and cost a fraction of traditional telephone lines. Every small business should at least consider and review VoIP as an option for their telephone needs.5. Mobile Phones, Laptops, Home Users & More: The way we work today is different from the way we worked twenty years ago. Your network is accessed by employees and team mates in locations outside your actual physical office. Small business owners should consider how they work before choosing what type of server or network to set up. More companies, even small businesses, are moving towards virtual servers and networks which allow team mates to work more easily from remote locations.6. Software & Critical Applications: From the ubiquitous to the highly specialized, every business uses a unique set of software to meet their needs and client demands. Often, the applications are purchased at various intervals of business growth, and don’t always integrate well.Many businesses suffer from data leaks and work flow cracks, making it difficult or impossible to use their data effectively. Before purchasing software or investing in Software As A Service (SaaS) for your present needs, try to visualize your future needs. Then consider if the software you are considering can serve you today and in future. How “scalable” is it? Can it grow with your business and integrate into your systems?If you are a small business owner who manually makes lists of clients now, and follows up via these manual lists (or post it notes on your desk, or scratch pads of to-do items), will that type of “business system” serve you if your client base was to grow by 10%? How about by 20%? Chances are that software exists to automate this “business system” and help you better manage client needs. This improves customer satisfaction, and eventually, client base growth.IT improvements can help your small business be more responsive, more agile, competitive, and successful. It doesn’t need to be difficult. Whether you are just starting out, or have been operating for a few years, why not pencil some time in to your calendar to review your IT needs, and consider where IT improvements can be made?Simply review your current systems and your needs. Consider your needs if you were to grow or get 10% more clients, and then 20% more clients. Make a “Need To Have” and “Nice To Have” list for your business, and call around to get some guidance and quotes. You can then begin planning for better IT and a more successful business.