Thursday, October 16, 2008

Fall Is In the Air

October is such a wonderful time of the year. The fall colors have been just brilliant with all the water we are receiving. This is kind of a laid back season usually and I hope you’re relaxing from your busy summer activities. Along with the let off from summer and the space between the holidays comes some extra time on our hands. You could work on building a residual income that will finance you through the Christmas season. I know December is a tough time of the year because of the financial drain from what we buy for our loved ones. Wouldn’t it be great this year if you had a residual income of an extra $500 a month for the holidays? In fact the money could continue and just increase through the first of next year, until it runs into tax time.

This is something to think about before you get to April 15th.
Tax Preparation is what you do the night before you submit your paperwork and money to the IRS.
Tax Planning is what you do for the year preceding paying your taxes, the records you keep, the work you do and what your business intentions are.

It works for me. All the political hoopla about small to medium business the candidates are throwing around could be referring to you. I'm pretty sure with the economy the way it is, a little or even a bunch of added security wouldn't hurt your feelings.

I know that a lot of you make great incomes and many of you only use the products from Youngevity for the health benefits. I understand, because health benefits are what brought me into the company. But, I am one of those blabber mouths that when I find something that has really helped me, I have to tell people about it. It’s kind of like going to a great movie; you want to tell everyone about it. The only difference is that what we have in Youngevity relieves pain, gives energy, extends life and the list goes on and on. Another great benefit is that, unlike movies that pay us nothing, we can get a thank you note from Youngevity in the form of a check. I know you know all this and I'm not pushing, only reminding.

Some of you have a business outside Youngevity, and have access to all the tax deductions of a business owner. As a business owner you have one hundred fifty seven legal tax deductions. For those that are just employees or retired, there are basically only three legal tax deductions.

Some TAX MYTHS we've heard in the past are:
1. My accountant gets me all the deductions available
2. You increase the chances of an audit if you take advantage of legal deductions
3. You have to make a profit to be eligible for any home based business deductions
4. There’s no way I can deduct my car mileage to and from work @ .48 cents/mi.
5. It's impossible to deduct 100% of medical health care and expenses
6. I can’t deduct my children’s allowances or college education
7. I have to keep all of my receipts to be eligible for any deductions

Something about the United States, so far it's a free country. Nobody has to do anything they don't want, as long as there's no law. The cool thing about taxes is there is a law and Congress wants us to follow it. If that law says I can pay less taxes then I'm all for it.
Have a great day. Wes
These statements have not been evaluated by the FDA. This is not intended to diagnose, treat, cure or prevent any diseases. Income is solely up to each distributor to develop. Results vary with each business.

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