25 Home Business Tax Deductions For Network Marketers

1 - I can do better 2 - Jury's out 3 - Pretty darn good 4 - Splendiferous 5 - Awesometastic by 8 people | Log in to rate

Ranked #592 in Work At Home, #89,008 overall

Home Business Tax Information

My hope is that you can use this Home Business  tax information to help you get started understanding and taking advantage of the tax deductions you are alloted for your home business or blog. By all means, if you don't understand something, check with an accountant or tax expert to help you unravel the I.R.S. tax code.

I do use Quick Books for my book keeping and TurboTax
for my tax preparation.

Please check with your home state's tax code as some states may differ in their tax language.

Start taking advantage of your Home Business deductions today.  I can't emphasize enough to document everything. Use the list below to help you start deducting today.

I need to add this disclaimer, use this tax information as a guide.
Please contact a tax professional to discuss your particular tax
situation.



Happy Deducting,



Kelly Wissink
Internet Marketing Specialist

46 Tax Deductions That Bloggers Overlook 

46 Tax Deductions that Bloggers Often Overlook
But what constitutes a proper deduction is another story - and bloggers usually err on the side of not deducting enough (and not the other way around).

Meet the Author 

featured lens Meet the Author- The Lensography of Kelly Wissink

Squidoo started off as a way to generate traffic to my home business website, which it has done. Somewhere along the way it has turned into a giant. It is a joy connecting with other like minded squids and developing lenses around my passions. Squido...

Kelly Wissink on Dipity 

Organize Your Tax Deductions 

Document Everything

It is important to be organized from the start. I shop at my local Staples or Office Depot to get my office supplies.

Save all your receipts that are business related. Label each file in your accordion file folder with a month. Place all your paper clipped receipts by month.It's important to keep accurate records.File cabinets are great too if your have room in your home business office.

Keep a mileage log book in your vehicle.

Marketing Expenses 

  • business cards


  • brochures


  • flyers


  • stickers and labels


  • cd's


  • copying


  • printing


  • letterhead


  • stationary and envelopes


  • thank-you cards


  • product give aways


  • advertising- Newspaper, magazine, radio, TV, internet


  • business checking account

Office Supply Expenses 

  • envelopes


  • postage


  • shipping


  • printer paper


  • printer ink


  • pencils , pens, markers, highlighters


  • notebooks


  • post-it notes

Office Equipment 

  • Computers and repairs


  • printers


  • fax


  • copy machine


  • answering machine


  • furniture


  • office space


  • file cabinets

Multi-Media Expenses 

  • Cell phone, phone bills


  • PDA


  • digital camera


  • video recorder


  • iphone, ipod


  • voice recorder

Travel Expenses 

  • Mileage


  • tolls, parking fees


  • airfare


  • trains, subways, bus fees


  • lodging


  • meals


  • conferences


  • conventions


  • seminars


  • entertainment


  • rental car


  • Business gifts

Internet Expenses 

  • Website hosting


  • domain names


  • web design


  • blogging expenses


  • podcasting -ipod, sotware


  • accounting software


  • tax software


  • internet service


  • classes


  • webinars


  • marketing

Educational Expenses 

  • literature- books, journals


  • newsletters


  • ezines


  • internet training


  • educational cd's and dvd's

Trade Show Expenses 

  • booth fee


  • travel


  • meals


  • tables

Tax and Accounting Software 

TurboTax Home & Business Federal + State 2007 [OLD VERSION]

TurboTax Home & Business Federal + State 2007 [OLD VERSION]

Release Date: 11/16/2007

Avg. Customer Rating: Amazon Rating

Amazon Price: $74.95 (as of 12/07/2009) Buy Now
List Price: $89.95
Used Price: $18.99

Usually ships in 24 hours

TurboTax Premier Federal + State 2007 [OLD VERSION]

TurboTax Premier Federal + State 2007 [OLD VERSION]

Release Date: 11/16/2007

Avg. Customer Rating: Amazon Rating

Amazon Price: $19.97 (as of 12/07/2009) Buy Now
List Price: $74.95
Used Price: $6.92

Usually ships in 1-2 business days

QuickBooks Simple Start Plus Pack 2008 [OLD VERSION]

QuickBooks Simple Start Plus Pack 2008 [OLD VERSION]

Release Date: 10/11/2007

Avg. Customer Rating: Amazon Rating

Amazon Price: (as of 12/07/2009) Buy Now
List Price: $99.95
Used Price: $40.00

QuickBooks Pro 2008 [OLD VERSION]

QuickBooks Pro 2008 [OLD VERSION]

Release Date: 10/11/2007

Avg. Customer Rating: Amazon Rating

Amazon Price: $99.95 (as of 12/07/2009) Buy Now
List Price: $199.95
Used Price: $109.00

Usually ships in 24 hours

Learning Quickbooks 2008 [OLD VERSION]

Learning Quickbooks 2008 [OLD VERSION]

Release Date: 10/14/2007

Avg. Customer Rating: Amazon Rating

Amazon Price: (as of 12/07/2009) Buy Now
List Price: $39.95
Used Price: $59.99

Tax Links 

Office-in-Home Tax Deductions - Home Business Use of Your Home
If you qualify, taking deductions for business use of your home can save you money at tax time.
Make Tax Filing Easier With These Record Keeping Tips
Make Tax Filing Easier with These Record Keeping Tips. What records should you keep for tax purposes and how long should you keep them?
Utilizing Network Marketing Tax Deductions - Associated Content
How can you utilize network marketing tax deductions in your business?
mlmlegal
If your network marketing business is making money, there is no reason why you should not be able to write off legitimate business deductions. Fair and honest deductions will save you a lot of money, but remember pie-in-the-sky or fantasy deductions may trigger audits and cost you money.
Mlm Tax Deductions Article
Network marketers are often concerned about MLM tax deductions, because they are not really sure of what items or expenses can legally be deducted and what constitutes a real business.

Social Media For Small Business on Slideshare 

Social Media For Small Business_By Jenni Lloyd, NixonMcInnes by RuthBaker

Jenni Lloyd; Experience Designer and Consultant at NixonMcInnes' presentation on Social Media for Small Businesses at Fresh Business Thinking event. More information on Jenni can be found here - http://www.nixonmcinnes.co.uk/people/jenni/ More information on NixonMcInnes can be found here - http://www.nixonmcinnes.co.uk/
 

Network Marketing and Beyond Blog 

Loading Fetching RSS feed... please stand by

New Featured Lenses 

featured lens All Natural Mineral Make-up and Premium Gourmet Candles

Creating your perfect look begins with using the right make-up. Natural minerals, renewable natural moisturizers, Soy Protein, and Vitamin E are some of the natural ingredients that make the products superior. We never use animal derived ingredients...

featured lens 25 Tips For Building a Social Media Smart Internet Business

Welcome to my lens! I appreciate your dedication. Do you want more out of life in this down economy? I know I do. Grab a cup of your favorite beverage and pull up a chair. There's a lot to offer the person who wants to plan, build, and learn more abo...

featured lens Home-Based Business vs Corporate Employment

Home-Based Business vs Corporate Employment People are tired of the long hours and the long commute. Generation Y is changing the business world as more and more young people work from home. The surge in home-based business is staggering. Why? Low...

New Featured Group Lenses 

featured lens The Squidoo 50 Club Headquarters

Welcome to The Squidoo 50 Club! This group will spotlight any Squidoo member that has 50 or more lenses. We welcome anyone with 50 or more lenses. Being a Giant Squid is not required. Submit your Profile page, Lensography and your favorite lenses....

featured lens The Squidoo 100 Club Headquarters

Send your Profile Page or your top lenses to The Squidoo 100 Club. Wow, you've been busy! Creating 100 lenses takes a lot of time, dedication and persistence at Squidoo. To celebrate YOU, here's your "Walk of Fame Star". You deserve it! Check ou...

featured lens MarchMadness Headquarters

Your March Madness one stop! Everything related to NCAA Basketball's March Madness including the men and women. Brackets, history, stories, and of course your favorite teams. Send your lenses in and let's get this March Madness party started!...

featured lens Twitterville Headquarters

Twitterville Everything Twitter. If you are here, you know what a powerful and fun tool Twitter can be. Connect with other Tweeps by sharing your profile, Twitter resources, Twitter tips, Twttrstrms and more. Rated G. How's My Grade?

featured lens Success Team Headquarters

Success TeamHow do you define success? What does it take for a team to succeed? If you desire to be more successful in business and life, this is the place for you. This is a NO SPAMMING ZONE.

Tax Deduction Feedback 

submit
Show All

Love This Lens? 

If you would like to rate this lens, then you can do so here (Squidoo members only)

Add this to your lens »

SquidBlogger 

Loading Fetching RSS feed... please stand by

About Me 

Lensmaster kellywissink has been a member since July 12 2006, has rated 409 lenses, favorited 111, and has created 125 lenses from scratch. This member's top-ranked page is "Homeschool vs. Public School". See all my lenses

My Bio

Kelly and Curt both have a background in teaching and a passion for using their gifts to empower others to work from home.



TwitterCounter for @kellywissink





Give these groups a test drive and let me know what you think.

Join Twitterville

Follow March Madness

Join Facebook

My Network Marketing Today and Beyond Blog

Comment on SquidBlogger

Join Other Entrepreneurs

Success Team


Newgiant

Draft_lens2338082module13108674photo_1229702077DIY_Winner



Firefox 3

Check out these great lenses...

lens image
Homeschool vs. Public School
Homeschool vs. Public School The number of kids being schooled at home is surging forward. Why are millions of parents taking their kids out of school and back home? Why are we still educating our kids like our parents, grandparents, and our founding... view lens
lens image
25 Tips For Building a Social Media Smart Internet Business
Welcome to my lens! I appreciate your dedication. Do you want more out of life in this down economy? I know I do. Grab a cup of your favorite beverage and pull up a chair. There's a lot to offer the person who wants to plan, build, and learn more abo... view lens
lens image
March Madness Headquarters 2010
March Madness means NCAA basketball at its best. The best NCCA Division 1 men's college basketball teams will be battling for a national title. Who will be this year's Cinderella team? Who will shoot the next game winning buzzer beater? Our... view lens
lens image
How do you use Facebook to build your business?
How do you use Facebook to promote your business? What do you like best about business on Facebook? Building Relationships? Finding quality leads? Post your ideas and comments and add to the wisdom. Kelly Wissink view lens
lens image
How do you use Twitter to market your business?
Twitter has often been viewed as a way to connect with friends and family in a quick way, text messaging on the net. Instead, it has leveled the playing field connecting mentors with their followers and where like minded people can share resources, p... view lens

by kellywissink

Kelly and Curt both have a background in teaching and a passion for using their gifts to empower others to work from home.



TwitterCounter for @kellywissink





Give these groups a... (more)

Explore related pages

Self Employed Tax Deductions
Self employed people are subject to the self employment tax, which is 15.3% of y...
75 Tax Deductions For A Home Business
Don't forget these potential last minute tax deductions for your home busine...
Should we be paying Tax?
You have been conned. You have been decieved. You have been swindled. Did you k...
How To File Your Income Tax Returns
Income Tax Returns Your Accountant Should Not File File Your U.S. Tax Return Now...
Looking For Tax Tips For 2006? These Tax Advantages Could Make You Rich!
Are you looking for tax tips for 2006?  Do you realize that what you pay in...
eBay Tax Tips
Hey eBay sellers! Now that you're making a profit on eBay, you're probably wonde...

Related Topics

kellywissink Recommends...

Create a Lens!