Most MLM and Network Marketing small business owners are losing a 2012 IRS Home Business Deduction.
Are you showing any profit in your business?
One of my company’s business associates, Diane Kennedy, just announced a major shift coming from the IRS concerning your home business deduction and it is not pretty.
Matter of fact you may not even be entitled to claim your Home Business, MLM or Network Marketing Business as a deduction this year!
Diane is an internationally famous tax strategist and CPA. As a premier author of bestselling books, Loopholes of the Rich, Real Estate Loopholes, Smart Business – Stupid Business and many others, Diane is well recognized as an authority with Home Businesses and the IRS.
Here is what she is bringing to light: “Let me be clear, if you have a home-based business with a loss, you run the risk of losing your deductions. The exemption: Let’s let the IRS tell us…”
Of particular note is her statement that there is only one company that will get an automatic pass from the requirement of having to show profitability to the IRS and is in fact a reason why it is the only home-based business that does.
Here is a link to a Diane Kennedy’s blog about tax deductions and the IRS requirements about Home Based Businesses (go directly to question #4):
Wow! Only one home based business with automatic qualification!
Is it yours?
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About Dave Lovett
Dave Lovett is one of the top international leaders in his company. He helps people learn both online and offline marketing. As a master communicator, he knows the significance of building strong relationships.
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