Turn Your Home Based Networking Opportunity Into A Business
Many of us in network marketing and MLM have some really profitable gigs. Having such, it just seems practical to turn the venture into a licensed business. Why? In the following announcement, I'm going to show you the true reasons why this is so important to keeping more of what you've earned. As I'm an independent affiliate with Karatbars Intl GmbH I'll use my personal experiences with relations to Karatbars.
In joining Karatbars the first thing that stood out to me was being able to designate a beneficiary to the account. That speaks to a vision of longevity and success. Next was, in order to register your business with with Karatbars, you can not register as an assumed name, dba, or sole proprietorship. You may only register an LLC, S Corp, or C Corp. This was an important factor because it helps shields you from personal liability and self employed individuals are taxed at a 60% rate as opposed to a 20% rate for corporations.
Being able to simply have an opportunity that allows you to network from a mobile device in the comforts of my own home, set my own hours, unsupervised, and since this is team building (optionally of course),there is always team members with much more tenure than you who understand that the more successful you become, that success trickles up to them and beyond. Remember: If you've never really made in money in network marketing, it's because you haven't helped anyone make any money in network marketing.
Knowing that your tax burden is 20% as a corporation is more of an incentive to get familiar with the tax code. From that I learned about section 179 of the United States Tax Code. They named it the Hummer Tax Law and it encompasses basically everything you'd just throw in the Hummer because you know it will fit!
Add to that amortized taxation over the life of an object, separate tax credits, charitable gifting, capital gains, and tax shelters for my Cryptocurrency and physical gold. So lower tax rate , limited liability status, more tax credits, and so much more that it simply just makes perfect every day living sense to turn that multi level marketing opportunity a corporation with Karatbars.
Maybe the current MLM you're involved with may not be as expansive as Karatbars Intl and that's ok. Do what your opportunity will allow you to do to help get you ahead in life. But remember taxes are the single most.
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