To Incorporate or Not

Let me make something clear first. When I say incorporate, I also mean to include LLC's, LP's, Business Trusts, and every other business structure you can think of. Now we have that straight.
Some people really don't understand the benefits of incorporating themselves. Why incorporate if I am the only person running the bizness? Why should I go through all that paperwork and filing to do network marketing? Glad you asked. Before I tell you let me give you the reasons not to incorporate your venture. Hmmmmmmmm...still thinking. Oh, maybe you don't care about your assets or those of your love ones. I knew I would come up with something. I know many will attempt to defend their actions for not doing so but I stand by my convictions on this one. Now to answer your question as to why. First the obvious reason, extra tax savings. BTW, you can even write off the costs to file the paperwork as a business expense. Wow. You already have one advantage right there. On a semi serious note, did you know that even if you are a network marketer and driving a prospect to a meeting and something happens not only are personal assets in jeorpardy but so is your business downline. Did you know that your network marketing bizness is an asset. Your downline is part of that asset and you get the wonderful treat of losing them and time it took to build it. Let's say someone comes to your big house that you lie and say was paid for by your profits from your home based bizness. OMG, they tripped, they ate something they were allergic to, they got bit by the dog, etc and guess what, you've got it! They want to sue. All personal assets attached to you and your social (SSN) are brought to the table. I can go into details but I want.
Remedy. Just get in touch with a business consultant that can draw up a few pages of articles and file them for you. They will get you an FEIN to accompany and identify your newly formed company so you no longer have to use your social. Guess what now. At the very least if now someone is riding with you and that accident happen they will only get what your new company doesn't own. Now you may say where can I find someone that is prudent and nice enough to assist me in this matter? I can name someone for you. ME... And thank you for the compliments. Can you believe that not only am I a network marketer but I am also a business consultant that specialize in business development. Let me spell this out for you. I can get you set up with a biz with a wonderful company that has one of the best products on the market, Tahitian Noni Juice, or I can set you up with your very own.
Very quickly, a LLC would be in my opinion the best option for a SBO(small business owner). You get the benefits of a corporation but the taxation of a sole proprietor or partnership. You get to run your company without all the hassle of filing reports or keeping minutes. In most states you can even have a 1 person LLC. You get to be the President, Treasurer and Secretary. Best of all, you have limited liability protection. Go a step further when you are ready and purchase general business liabilty insurance. You can write that off too.
That concludes part 1 of this lesson on To Incorporate or Not.

Whatever Wednesday

Whatever Wednesday is just that, it's Wednesday so Whatever. On Wednesdays, various topics will be discussed. The topics will be all over the place. Truthfully, some may not even make sense. Welcome to Whatever Wednesday!!!
First thing, is everyone really cut out to be a bizness owner or entreprenuer? I say yes and no. Yes everyone should do something to take advantage of the great tax benefits associated with being the boss. Just the tax benefits alone are worth the investment of having a home-based business. If you have no idea of what to do or how to start one, maybe you should consider joining a Multi Level Marketing or Network Marketing company.
I also say no because everyone is not cut out or disciplined enough to be left alone to manage their time wisely or financial future. Starting is the easy part but maintaining a thriving enterprise is a different thing. Many entreprenuers get caught up being busy but not being productive. They say activity=income. I say focused and purposed activity=long-term, substantial income.
Second thing, I have a survey actively polling to see what many think is the largest industry in the United States. I have heard so many people swear by the good GOD above that they know what they are talking about only to be proven wrong. A simple search will reveal the truth. Just ranting on this subject.
I find it amazing that people say they hate selling and that they are not a good salesperson. What the ----? How can you say that? You sold(lied probably) yourself to get that job. Have you ever heard of the New York Times best written book? I'll answer that for you, NOPE. It is the New York Times best selling book list. Almost everything revolves around selling. It just boils down to who you will be selling for. I'll do it for me or I'll do it for the other guy. Hint, hint, clue, clue...You make more when you do it for yourself.
I'm sure I'll be back with more stuff that raises my eyebrows. Today is Whatever Wednesday so yeah whatever.