What Kind Of Accounting Records Does The Irs Require For Network Marketing Mlm And Other Stay At H

Two questions frequently asked by Network Marketers are What kind of business records do I have to keep for the IRS?, and Whats kind of record-keeping system should I use in my business?

Operating a business without paying attention to record-keeping is a recipe for disaster. You may be thinking who caresI hate bookkeeping and tax details, and if my business takes in enough money, it wont matter anyway Ill just pay someone else to clean up my record-keeping later!

Not so fast, my friend! A good record-keeping system is crucial for preparing your tax returns. And if you dont prepare your tax returns with care, youll not only pay too much in taxes, but also increase the risk of a dreaded IRS audit. If an auditor finds insufficient records or significant mistakes in your books, it can disallow deductions, plus impose hefty fines and penalties, possibly forcing you out of business and wiping out your life savings as well.

The good news is that the IRS doesnt prescribe one particular system of keeping records that must be used. No two businesses are alike, so theres not one uniform fashion when it comes to record-keeping. Any system is okay, just as long as it paints a true picture of your income and expenses.

You can keep your records either manually, or with a computer.

The manual system works fine for smaller home businesses and cost only $10 to $20 a year for a ledger book and some manila file folders. I recommend a Weekly Bookkeeping booklet, where you can record your income and expenses on a regular basis, and then update the year to date totals, by expense category, at the end of each week. This way you always have an up to date statement of Income and Expenses, or Profit and Loss report, at your fingertips. In addition to the weekly record book, keep a check register, an adding machine, a mileage log,and an accordion file close by for filing receipts. Organize your receipts by category; Advertising, Travel and Entertainment, Cell phone, and so on.

A computerized record-keeping system works on the same principles as the manual system, however, the computer automates the process. You can use spreadsheets to record your residual income and bonus checks, and use separate columns to categorize your expenses.

An even quicker way to categorize your expenses is to use a software program such as Quicken or QuickBooks. These programs work like a checkbook register, with each income and expense transaction typed in as you go. A Profit and Loss report can be printed in a snapassuming you do have some basic accounting knowledge. But beware. A software program is no substitute for a basic understanding of debits and credits. Often the year-end reports that I see produced from accounting software programs is best summarized by the statement Garbage inGarbage Out.

If youre comfortable at the computer and have basic bookkeeping expertise, good for you! But you dont need computer software to keep accurate records. At minimum, categorize your receipts (auto, office supplies, advertising, etc) in manila folders or an accordion file, and total them up by category at tax time. Staple the adding machine tape to each folder or stack of receipts. Either system is okay as long as it paints a true and accurate picture of your income and expenses.

Network Marketing business owners should get a copy of IRS Publication 583, Starting a Business and Keeping Records, for more details on IRS record-keeping requirements.

How To Sell Avon By Marketing Yourself Online

So everybody knows that Avon is one of the most popular, if not the most popular home based businesses out there.

It is no surprise that Avon moves over six billion dollars in annual revenues since Avon is the leading direct seller of beauty products.

But what does this mean to you? How can you turn these simple facts into wealth and learn how to sell Avon?

You could build up your Avon business the traditional way and just sell product to friends and family but would that be the best way? Is there a way that will explode your business and allow you to actually be an Avon distributor full time?

There is a better way. It has worked for thousands of others and it could work for you too if you applied your self to the strategies that I am about to teach you.

The key to learn how to sell Avon the right way is to learn how to market your business. Now I know that about 97% of Network Marketers fail and it is because they do not know how to market. Actually, a lot of individuals most likely could use some coaching in marketing their business (judging on statistics).

But let me ask you this. Where do you see tons of adds? Where do you spend a lot of time at? Where do you go to learn about something that you are not familiar with?

That is a simple question. You Google it! If you are researching something you get on the Internet and find out more information. Like right now for example, you had the desire to learn how to sell Avon so you researched online on how to do so.

You can see that the power advertising online is powerful so why not do it!? You can use the power of the Internet to promote yourself and your Avon busines.

I did say earlier that Avon is one of the most popular home based businesses. The local search volume for the month of September got 4,090,000 searches in a single month and that is just locally. World-wide, Avon got 7,480,000 searches. Let me ask you a question. How different would your Avon business be if you even had a fraction of these visitors interested in your business every single month?

Obviously with this many searches per month, there is a lot competition online.

That is the one downfall of marketing online. Yes there are a lot of people searching for what you have to offer, but at the same time (depending on what niche you are targeting) there are a lot of competing sites.

But that is where I come in 🙂

I am a Internet Marketing expert and I specialize in getting targeted keywords to the top of Google using virtually free techniques.

Now I can not promise you that I can teach you how to get to the number one spot on Google with the keyword “Avon” since there are already thousands of established websites, but I do know that I will teach you how you can target long tail keywords and get thousands of visitors from them if you apply all of my techniques.

A long tail keyword are specific phrases of words that drive highly targeted traffic. For example, “dogs” is a very general keyword, but when you say “four pound Maltese dogs” it is more targeted information. Long tail keywords do not get as many searches as “Avon” itself, but honestly long tail keywords usually bring more targeted traffic to your website. With long tail keywords there is also not as much competition.

Less competition mixed with my marketing strategies will still give you thousands of visitors (depending on the keyword), until your website builds up to a level that you can target those more valuable keywords.

Driving traffic to you website will not happen over night. It will take dedication, but all of your hard work will pay off.