DubLi’s U.S.A. roadshop begins in America October 4, 2008

DubLi CEO Michael Hansen will be visiting six American cities. He will be accompanied by top-earner Dean Mannheimer, and they will be joined by other top networkers.

Chairman of the Board Kent Lee Holmstoel will also be present to share his perspectives about further future expansion. The highlight of the roadshow is the presence of Michael Hansen, the founder of DubLi. His visit will mark the start of a new era in network marketing in the U.S.A. and around the world.

This roadshow will be a clear signal,  a signal of how quickly DubLi has grown, how much is possible with the new Fun Shopping concept and Partner Program – and above all – how DubLi is establishing a new industry standard with its training program. It will be a real event of highlights; the many new partners who discover and take advantage of the opportunities with DubLi will soon be the real TOP NETWORKERS in the whole industry. Michael Hansen will inform roadshow visitors personally what other surprises DubLi has in store, and believe me, there’ll be an earthquake in the whole industry when DubLi realizes its potential!

Laetitia Paris, Dubli Business Associate and fellow Dublicator outlines the importance of Dubli in todays market place with emphisis in working from home….more from Laetitia Paris

Thanks Laetitia,

Larrie Perkins
 

Dubli  in U.S.A.

Dubli’s launch in United States stirs excitement for anyone interested in building a business network and working from home.  
Working from home definitely has its advantages, especially in tax benefits for business owners and considering the compensation associated with Dubli’s Business Associates makes the opportunity very attractive and plausible. 
Bailouts are the topic of news organizations these days and talks about possible lost of jobs nationwide. With job security longevity in question,  the need to investigate opportunities of working a home business definately needs to be considered.
In the next few days my intentions are to outline  tax advantages of joining Dubli as an Business Associate. It should be interesting to explore tax advantages and understand exactly what you get as business owners in simply terms.

Larrie Perkins
TaxMart

Ninfa Carpenter Talks Financial Business Planning

Planning for business requires considerable planning as outlined by Ninfa Carpenter, Financial expert and Author from Atlanta , Georgia, USA.  During  Ycademy’s September seminar, the information and guidance in relation to starting a home business are valuable considerations that should be addressed by prospective  business owners.
Ms. Carpenter recently completed her soon published book "Fast Quick Cash Online" is an anticipated read. If her book is as informative as her presentation today I must secure my copy when published.
I plan to attend Dubli’s USA presentation in Atlanta this October 18.  Dubli’s  USA launch are much anticipated and offers a business plan definitely worth consideration.  Financial planning and taxes go hand in hand and I look forward to speaking with Ms. Carpenter in Atlanta next month. 

Larrie Perkins
TaxMart Inc.

Hello, I’m Larrie Perkins and I live in Alabama USA. I actually enjoying the best of both worlds by sharing life experiences and business ownership (Taxmart ) with my wife Sandra since 1994.

Home businesses are important in providing the means (platform) to develop new products, create jobs and most importantly putting individual ideas into action.

Bill gates stated a couple years ago if a person had a business in the 21st century it would be an online business and this is true today.

The Internal Revenue Service, (Uncle Sam) allows tax benefits for business Owners.
A business owner must meet certain requirements in order to take advantage of allowed tax deductions. A Profit Motive must be met. What this means;  business owner must seek profit and work the business.

The key word here is "work" the business,  you must seeking profit at all times,  not just in business for the tax benefits. Activate participation is a requirement.

Profit is the ultimate goal of any business and to qualify for tax benefits business owners must seek profit. (very important) but do not have to be in profit to qualify for business tax benefits.

Items such as personal computer, printers, software, Internet Service Provider (ISP) 
are no longer just items if used for business. They are now classified as tools used for business and qualify as a tax deduction.

Office in Home deductions  include utility bill, mortgage interest, rents, repairs, insurance, property taxes and depreciation of your home, all based on the percentage of space used for conducting business within your home or apartment. The square footage used for business in relation (percent)to total square footage of dwelling.

In order to qualify for Office in Home deductions, a business owner must have profit greater than Office in Home deductions during current tax year. If profit is not greater than expenses,  the deduction is carried forward to future years and allowable when profit exceeds expenses…

I’ want to give some examples to hopefully inform as to tax advantages of working a home business by  providing (3) three comparisons of owning a business verses not working a home business,  using  2007 individual IRS tax codes and rates.

Example: 1

Tax Payer:  Single parent with 2 dependant children under age of 17 years old.

Head of Household status for maintaining home for her children

Salary: $48000.00 yearly, no tax withheld 

Taxable income $29972.00

Tax Liability:    $3936.00 - 2000.00 CTC credit = 1936.00 tax due   Al. State due= 1723.00
This example has no business

Example: 2

Same income and dependents but with home business deductions totaling 6960.00

taxable income 22990.00 ……..lowered by 6960.00
tax liability 2886.00-2000 credit= 886.00  …….1050.00 difference   Al State=1298  difference $425.00   totaling 1475.00
Business income -6960.00….from depreciating computer and printer, business miles, Dubli business licence, Internet connection, continuing education(seminar) and price of Ninfa’s book ……………as well as my book Home Business Tax benefits including
consultation

Example 3: 

Same income and dependents with home business but with $9000.00 income

Taxable Income: 22990.00
Tax liability 3936.00-2000ctc credit= 1936.00    Al. State tax due=1723.00

business income = 22.00 after deductions

In this example, income of 9000.00 profit less deductions,  including office in home allowed,  now with carry forward from previous year. Remember when In profit,  office in home deductions allowed deduction,  Office in home is allowed. In this example 2 years Office in Home deductions are allowed.
3182.00

$9000.00 income you did not pay taxes on except for the 22 dollars profit . This translates to more money remaining in your pocket. 

Working an Online business has its advantages; Everyday items can be put to work as tools to conduct business , thus a tax deduction. As business owners get more informed (savvy), they capitalize on available Business Tax Benefits., which brings to mind my book, "Home Business Tax Benefits" soon available.

My focus is with  Dubli as my home online business and look forward to join Ninfa in Atlanta, Georgia on October 18 to be part of Dubli’s USA presentation.  

Thanks,  

Larrie Perkins
Dubli Business Associate

PS…do Retain receipts of all business related expenses.

Hard copy verses Computer Scanned:

Retaining copy of business receipts are required to comply with IRS code Sec: 6001.
All persons liable for tax must keep records according to the IRS including those who file informational returns,  but computer scanned records and receipts are now acceptable in the form of an electronic storage system.
Of course certain requirements are required for electronic storage. There are several software programs on the market that accomplish the requirements, all with similar results. I went paperless this year in my tax consultancy business and decided to use "Scan-an-Fill software from CCH Corporation. What I found with CCH is the recognition of W2’s and 1099s incorporated into their program and their software  integrates seamlessly with my tax preparation software. Certain requirements are needed to make sure compliance is achieved but a reliable software program will usually do what is needed. Compliance includes;

1) Test electronic storage system to establish that hardcopy and computerized books and records are being reproduced according to certain requirements, and

(2) Implement procedures to assure that its electronic storage system is compliant with IRS requirements into the future.

By reducing hard copy I plan to remove at least (17) seventeen file cabinets from my business this year. The expense of scan software and training staff are nimble considering the overall gain by using an electronic storage system. Of course software and employee training are deductible business expenses and the additional space gained in my office opens consideration of adding another workstation from space gained.
Electronic Storage is not a problem considering adding an additional hard drive or remote storage server are cost effective additions today. I suggest encryption of files on remote server if data is sensitive.
Scanning documents and receipts comply with Paperwork Reduction Act and using electronic storage an easy addition in going green.

Larrie Perkins
TaxMart

Stand Up Business Owners:

Standing up and doing whats right is the responsible of everyone. John McCain addressed this during his convention speech. In order for any enity to function properly guidelines, rules and laws needs to be followed.
Congress says more than (1) one million businesses cheat on payroll taxes to the tune of 58 billion dollars. The Congressional sub committee examined the magnitude of unpaid payroll taxes by businesses and the IRS’s collection enforcement methods for unpaid payroll taxes.
Almost 9 billion of the 58 billion dollars in unpaid payroll taxes is in queue for collection action with 80% not having a lien filed. The governments interest in the tax debtor is not protected when a lein is not filed reflecting a weakness in the IRS system.  The IRS looks at identifying action so that taxes can be assessed and liens filed. Liens may soon be filed automatically if certain conditions apply.
This is important to business owners as the IRS will target businesses to insure payroll taxes are paid or liens will be issued. I see the importance for business owners to stand up and do what is right and pay taxes that are due. No one likes to pay taxes but taxes are really a privilege for being able to own a business and support self and family by conducting  business. The IRS allows deductions and credits for business owners and it is simply easier to take advantage of what is allowed than to spend time on ways to cheat.
At the end of the day, I consider conducting business legally just feels good and standing up for whats right is the best policy . 
Reform of government requires everyone to stand up and take action on all levels. Individual contributions to do what is right, however small,  fosters unity towards a common goal.  One million business owners owing payroll taxes totaling 58 Billion. That’s a lot of money to stand up for.

Larrie Perkins
TaxMart

 Professional Fees as a Deduction:

Professional fees paid by business owners are a deduction as long as they relate to your business. Many business owners do not like to speak of fees, especially if they are due to settle various problems that often are present just for doing business. Paying a tax professional or an attorney providing consulating services for your business are allowable deductions in most cases.
Books purchased as a reference that help with legal and tax needs are also deductible, again, as long as they relate to your business. Important to remember, a deduction is allowed only if it relates directly to your business. Keep this in mind when you are purchasing items and be sure to document the transaction by sales receipts, canceled checks or credit card statements.
Stay informed to money matters that may effect you and your business,  often accomplished by reading the financial section of a newspaper, again if used in relation to your business a deductible expense.
As a business owner myself I understand the importance of staying informed. My employees depend on me to purchase books and publications relating to their work. Of course it’s not feasible to go overboard with purchases. Stay within your budget. Often employees have resources they bring to office that can be shared with everyone.
Retaining Invoices and or receipts are an absoulately must if deductions are claimed on your tax return.

Larrie Perkins
Tax Mart

Mississippi without fuel in the early morning hours. This is what I experienced about a month ago while traveling from Tunica Mississippi to my home in Florence Alabama. What actually happened are my estimated mileage per gallon on my pickup where not Nascar accurate computations.
Let me reiterate: I asked my wife Sandra to accompany me to Sam’s Town Tunica for a Saturday night outing. It had been a while since we did anything impulsive and seemed like a good idea. Everything went just fine, actually won a little money playing slots machines and enjoyed the southern hospitality at Sam’s Town Casino.  Sandra asked to drive and ok with me as I drifted off to sleep only to be awakened as we got to outskirts of Corinth, Mississippi. Yes, out of fuel and coasting to a stop about 1 mile from a gas station. I pushed the truck off the highway and turned on the emergency flashers in fear of someone crashing into our vehicle and made my decision to walk to the service station in hopes I would be able to get a container to transport fuel back to my truck. What happened next is funny now,  but at the time seemed unbelievable. 
I had only walked about 300 feet and my attention drawn to the houses and buildings close to the road, some 50 feet off the highway. It seems the chickens and roosters were awakening about this time, 5 am, and each and every one had a cock-a-doodle-do, all seen to be directed at me. I immediately forgot about the roosters cackle as a door opened and out came a big German Shepard dog. Thank goodness the dog had more pressing business as I quickly increased my gate to clear the dog’s view of me in hopes I would not be seem as a threat. 
I secured a fry grease container for my fuel purchase and began my walk back to my truck and wife,  still in full view with emergency flashers glowing on the near horizon. 
It was a long walk but this was not my concern as I remembered the size of the dog that I assumed would be waiting for me as I approached a church setting about a 1000 feet off the road. I looked along the roadside for anything that may be protection for me just in case I was attached by the canine. I did found a small rock and bent over and secured it in my hand and actually stopped in my tracks when several loud Oue-Hee  sounds seem to come from the church. Now I had a Jack-Ass (donkey) joining the roosters in what seemed all to be directed at me.  At the time I admittedly said a few choice words not repeatable now but decided what ever happen were meant to be, and headed fearless to what may be my final walk.
Without further incident, I made it back to my waiting wife, poured gas in the tank and preceded to start the engine,  relieved I had survived the walk…but it was not over yet,  the emergency flashers drained the battery and the engine made a clicking sound  and would not turn to start at all.  After a few hail Marys… I began my walk again,  reaching half way to service station when someone stopped and offered to help. The helpful man had cables for a jump start and this all came to a close as we topped off the fuel tank and continued to travel to Alabama relieved and thankful for the roadside help.
Today, the preceding  experience reminds me, in business and life,  all decisions requires accurate planning.  Resourses must be available (fuel) and making impulsive decisions may end in walking alone with some hey haws along the way. Sharing expertise and willingness to lend a helping hand builds relationships required for business success and development.  Business decisions are not always fearless but formed using sound judgement and accurate data.  

Larrie Perkins
TaxMart Inc.

Claiming Bad Debts? You May Not Be Allowed To:

Business owners often experience non payment for products or services when the buyer does not pay. Unfortunately, this is not always something that you can deduct off your taxes. Tax laws allow some bad debt expenses to be written off but is specific to the type of product provided by your business. If you sell a tangible product such as goods the bad debt may be an allowed deduction, but if your business sell services, you may not be able to claim bad debts as a deduction. The debt is no less regardless of product or services but understanding why is important. If services were allowed as a deduction it would be easy for business owners to inflate the costs of bad debts incurred. If a service related business experiences losses, the loss is not claimed as income but expenses such as utilities and daily operational expenses are still positive regardless of debt. For instance, if you pay an employee for services provided to a non paying client, the employees expenses are still deductible. It is best to talk with a tax professional about methods to deduct bad debts as situations concerning debt may influence deduction. Nearly all businesses will experience bad debts. It’s part of doing business but most business owners will become savvy to indications from customers that often lead to non payment.
Larrie Perkins
TaxMart

Paris Hilton for President:  Hot or Not
 

Paris Hilton talks about energy crisis and painting White House pink. Definately a fresh view from Ms Hilton. As a business owner herself her expertise is welcomed concerning tax benefits for home based business. Painting the White House Pink will require some thought.

Larrie Perkins