April 15th has come and gone again, and I do hope you were able to take full advantage of the home based business deductions that are available to the growing number of citizens (tax-payers) who have found that from an economic standpoint, a home based business is the only way to go. Jim and I often tell our story of how twenty years ago when we were both highly paid employees of someone else (read no tax advantages), we were told by our tax accountant that we could benefit dramatically from having our own home based business. Long story short, we did just that and found out that we had been extremely naïve about what was possible. Well, we quickly “got smart” and saved thousands of dollars from then on. Of course, the other “ah hah” was that there was so much residual income available from our part-time network marketing effort, that we were able to retire completely in just two years and have been unemployed and loving it for the last twenty years!

How Many of you will unknowingly and quite unnecessarily pay $5,000 or more to the IRS this year?... because you (or your CPA or Accountant) don't know all of the many deductions that are available for you as the Owner of a Home Based Business. I am going to suggest a couple of fine references to bring you up to speed on this vital subject. All of the many benefits (old and new) have all been pulled together into one simple and easily read and understood book entitled, It's Not How Much You Make, But How Much You Keep That Counts. ($35) By Ron Mueller, M.B.A. There is an informative CD entitled More Money, Less Tax, ($2) by Ron Mueller, M.B.A. (which is not a substitute for the Book, it’s good but just not nearly as complete). I have SEVERAL of these books and CD's that I have ordered in order to to make them available to my downline. I look upon tools such as these as "inexpensive” compared to the huge savings the knowledge will enable. And, of course, they are tax deductible business expenses, so the IRS will PAY YOU for learning how to maximize your tax benefits. Is this a great country, or what!

These 2 above referenced Tax Information Tools may be ordered at www.X1Tools.com or by calling Sound Concepts at 800-794-6081. One friend of ours asked her CPA to read this book, and he discovered a deduction that he was totally unaware of. Home Based Business deductions are not taught in accounting classes in college, nor are they on the CPA Exam. Many of the HBB Deductions have very recently been enacted by Congress, and some are not generally or widely known. As the Owner of a HBB you are entitled to take advantage of all of them if you own and operate a HBB, with an "intent to make a profit."

What establishes an "Intent to make a profit?" Examples include: Making and keeping good records, attending Local, Regional, and National Events...and taking good notes, being on monthly Auto-Ship of your product, in order to qualify for the Bonuses, engaging in real prospecting efforts and signing up new distributors, by having home meeting presentations, or certainly hotel meetings. You need to have a consistently growing downline and growing Group Volume, by buying and using the tools in your prospecting efforts, having a Product & Opportunity Prospecting Website like www.jimandcandy.com and sending people to your website. Followup with interested contacts and many other things evidence a genuine and real "Intent to Make a Profit". Of course, many of these activities can include wonderful travel to fun places and enjoyable entertainment events.

It is not sufficient to merely get an ID and order product for yourself only, and to not tell anybody about your business. Intent requires that you in some way get the word out to the public about your business.

You cannot say that you have a real "Intent to Make a Profit" if you are not In The Game!!! Think about that. You don't have to show a profit for 5 years, but if you can document that you have a Genuine "Intent To Make a Profit," you can take full advantage of the MANY HBB Tax Benefits, as described in It's Not How Much You Make, But How Much You Keep That Counts. These HBB Tax Benefits, could save you a minimum of $5,000 per year, up to $15,000, or even more. Think About That.

This wonderful industry of network marketing has been our business of choice for twenty years, affording a fantastic lifestyle. Obviously, the financial rewards have been significant, but I always feel the need to comment on the freedom and control of your life that this business affords. In down times such as we are currently experiencing, our business is basically “recession-proof”. In fact, more and more people realize that the only true financial stability comes from owning your own business. So, if you are considering the industry, take into your decision the information above – tax advantages that are uniquely available to the home based business owner. It is a significant part of your overall financial health. As always, have fun in whatever company you choose, and if you would like some one on one time around the many choices within the industry, I would love to share twenty plus years of successful experience.

To Your Success,

Your Network Marketing Coach, Candy Webb
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916-408-3637

NOTE: The above is not tax advice. For tax advice, consult with your licensed or otherwise qualified professional tax advisor. The references cited can guide you in many aspects of preparing correct and accurate tax filings.