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We are on the topic of typical income of MK consultans. I recall listening to a recruitment tape many years ago, somewhere between 12-15 years ago, that specifically discussed average income for MK consultants. The discussion was on side 2 of the recruitment tape, and it was a male voice. At the end of the tape the speaker said that the average MK consultant makes less than $5,000/ year. Maybe this tape was made when MK was a public company on the stock exchange and was required to make a public statment about average consultant income. Although this amount seems low for all the time and effort that goes into a MK career there are tax advantages. I do not have a large inventory, but I was told by my director that having a large inventory at the end of the year helps in lowering overall tax, but I don't have a clue about how that works. Most MK consultants work with a tax consultant who is familiar with the MK business, for example section 1 product vs. section 2 product etc.


MaryWard web search for MaryWard - 13 Feb 2004

_________________________________________________________________________________________________________________________________ Wendy: Oh, since the tax subject was brought up I have a great, great tax attorney to recommend! He does over 600 MK taxes/year and KNOWS this business! I just got a letter that I am being audited and he has done my taxes for the last 5 years and I HIGHLY recommend him. I have no worries (well a few I guess but that's normal) that he will take care of me and this situation. I won't even have to talk to the auditor. His knowing the business as well as he does means he didn't make any mistakes. I already found one small error that I made but it's small. My dad was audited once and they owed him almost $600. I'm sure mine will be opposite but in any case, he's got my back covered. I will share his name and phone number and forward his tax worksheet to anyone who wants it. I fill out the worksheet once/month. I will cover this on a teleconference too if it's requested so I can give you my teleconference number if you like too. Just email me. And it's pretty typical for a consultant without any recruits doing average work to only make $5,000/year. Bunny hit it right on when she wondered if one of the best perks is the tax break, but just track yourself and go to a tax guy who won't do your business taxes wrong. I pay plenty for my guy but the money I pay him is also a tax write off and it's worth it. Thanks, Wendy

_________________________________________________________________________________________________________________________________________ Thanks for the information Wendy. Sorry to hear about your audit. You bring up an excellent point about having a good tax accountant who undertsands the MK business. Mary

Home based businesses are frequently audited with the IRS since so many tax deductions are allowed when you do business out of the home......SO, if you plan on taking deductions allowed for home based businesses......MAKE SURE you keep EXCELLENT records and pick up all the publications regarding allowances.

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