Mlm And Network Marketing People – You Need To Know
If you’re running your own business out of your home which includes MLM companies, Network Marketing companies, Direct Sales companies or any type of employment where you are deemed self- employed, then it is your duty to be current on Internal Revenue Service, IRS, rules and codes that apply to the self employed.
The following is a brief summary of what you should know and what you really need to know regarding the IRS and how it views the MLM – Network Marketing – Direct Sales industry. Network Marketing has long been recognized as an extremely important industry by the IRS. In the year 1982, the IRS specifically recognized the independent contractor status of direct sellers. Subsequently, the IRS issued a number of materials addressing the issues of self-employment workers and home-based businesses. The IRS specifically addresses the issues of network marketers in IRS Publications 911. Please refer to the Tax Guide for MLM and Direct Selling
MLM Reps, Network Marketing Associates and Direct Sales Distributors: Here are some very interesting facts that will give you a much more broad perspective on this industry.
One in ten thousand households in the United States has a direct seller. There are approximately ten million network marketers in the United States alone. Sales of the Network Marketing industry in the United States are in the billion range. About sixty-five percent of direct sellers area female and thirty-five percent are male. For most people, Network Marketing is only a part-time activity. Approximately 80 percent of networkers work part-time, less than 30 hours a week earning less than 0 per month. Network Marketing opens doors for everyone, regardless of his or her socio-economic background. About five percent of Network Marketers are senior citizens. Approximately 8 percent of Network Marketers have physical disabilities. Thirteen percent of Network Marketers are African-American. Five percent of Network Marketers are Hispanic, and lastly, One percent of Network Marketers are Asian.
Here are the top five reasons that people join MLM – network marketing companies:
I like and believe in the product and or services offered by the company (90 percent) I enjoy being my own boss and not relying on corporate America for my future (73 percent) I like working at home and having complete control of my schedule and my life (64 percent) The harder I work, the more time I put into my business, the more money I make (54 percent) I enjoy selling the product or services offered by my company (49 percent).
In summary, be certain to hire a tax preparer or accountant that is well versed in the updated rules and codes of the IRS that are related to Direct Selling which includes most MLM and Network Marketing Companies.
If you are serious about growing your home based business, and are serious about securing a future for both you and your family, check out some more great free information at http://www.FreeMLMsuccessReport.com Thank You,
Jane Quade Home Business Specialist
Jane has an extensive background in the home-based business industry as well as public marketing. She is most well known for her no-nonsense approach to marketing and teaching style.
MLM Advisers
440.942.8166
9am – 7pm EST
http://www.FreeMLMsuccessReport.com
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