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  #11 (permalink)  
Old 07-12-2011, 09:16 PM
cruisin_man's Avatar
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Several areas of advice above may be incorrect depending on where the rep lives, like:

Business Licensees, Certain Assumable Deductions, etc.

Rules and laws vary from State to State and also City to City.

Some people skate on an iced over ponds in North Dakota, that doesn't mean the ice won't bust in Tampa, Florida.

Just sayin' . . .



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Originally Posted by 81charduck View Post
Tom, I agree with you. I stand by all my suggestions, however, I should have added that "tax situations are different for each of us; so check with a tax professional." Thanks for bringing that up.

Of course, anyone can be audited, so I imagine networkers could be subject to auditing as well. It is vital that all records are maintained and that all expenses are backed up with receipts, bills, etc. If you cheat, you are much more likely to be audited.
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  #12 (permalink)  
Old 07-13-2011, 06:10 AM
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Tom did you ever notice the thread says For Xpress Healthcare Reps

That's not you and if we want you advise or opinion we will ask.

Don't call us we'll call you
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  #13 (permalink)  
Old 07-13-2011, 07:11 AM
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Just commenting on potential incorrect information given to new people coming into the biz Mike.

I'm glad to help.



Quote:
Originally Posted by Mike McClurg View Post
Tom did you ever notice the thread says For Xpress Healthcare Reps

That's not you and if we want you advise or opinion we will ask.

Don't call us we'll call you
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  #14 (permalink)  
Old 07-13-2011, 08:49 AM
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Tom, on my post on 7/11, I did recommend that rhino39 check with her county/state regarding licensing.

Since rhino39 posted all these intelligent questions, I imagine she/he is also smart enough to follow-through with her county/state and verify the tax information as well.

So, rhino39, when you read all these posts, please realize that we are all trying to help you. Mike & I are both Xpress Healthcare ABO's, and I've been in the industry (discount health benefits/networking) for several years. I know that everything I've told you is correct as far as the federal goes, including that everyone's tax situation is different, so you may want to verify with an accountant (or free advice from IRS).

But regarding state/county info, it may vary depending upon where you live, as I mentioned in an earlier post. I know many people in network marketing throughout the US, and I've never heard of anyone required to be licensed as long as you don't have clients come to your home. That does not mean that your state/county isn't the exception to the rule.

I hope we haven't scared you away from network marketing in general or Xpress in particular. The network marketing industry is one of the fastest growing in the country. It is a fabulous way to supplement your income or earn a full-time income. I've been with 3 different companies, and Xpress Healthcare, where I've now settled, is an amazing company.

If you have additional questions, you may want to privately message whoever you want to ask. If you decide to message me, I'll give you my phone # at that time, and we can discuss this further. I am part of the Leadership Team (a very small group that works closely with corporate) with Xpress, and we are obligated to help everyone, even if there is no monetary gain. So, you will not be "stuck" signing with me if you decide to join, although, of course, you are welcome to do so.
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  #15 (permalink)  
Old 07-13-2011, 12:19 PM
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Thank you guys for the help. I think I might have found my answer as far as business license or permits are concerned.

I found this website that specializes in them for the entire United States.
Business License, Get Every Business License Online 1-800-679-3611 California (CA) Business License, Florida (FL) Occupational License, Washington state Business License

Just click on Get Started tab and then Forms Library and you can enter your business address (ex: my home address for my home based business) and it will provide a complete list of business licenses and permits for the Federal, State, County and Local levels. You can pick and order which licenses apply to your business. It's free to look at this list too!

I went through the whole list and didn't see any licenses that would apply to being an ABO for Xpress Healthcare for my location. So it would appear that I don't need a business license. If you're curious about your location, just go and enter your address and look through their license library.

Maybe this resource will help others starting out.

Since I now have an answer for the business license question, and I think I know what forms to fill out for federal taxes. I just need to research a little further on the state taxes issue and whether I need to file quarterly taxes or not.

Thanks again for your help guys. Oh yeah, just to clarify, I'm a dude.
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  #16 (permalink)  
Old 07-13-2011, 01:02 PM
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Great information. Thanks for posting this. It will help a lot of people.

If you join Xpress, from your questions, I can tell that you'll be a great asset to the company. I wish you every success - whether or not you join Xpress Healthcare.
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  #17 (permalink)  
Old 07-13-2011, 01:26 PM
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I started a thread about The SCORE Association - Mentoring & Training for Entrepreneurs and Small Business Owners | SCORE

They have been a tremendous help to me. You may find alot of helpful resources with them.

Shana
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  #18 (permalink)  
Old 07-13-2011, 05:34 PM
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Quote:
Originally Posted by Mike McClurg View Post
Tom did you ever notice the thread says For Xpress Healthcare Reps

That's not you and if we want you advise or opinion we will ask.

Don't call us we'll call you

I have been considering Ameriplan and Xpress, so I have been monitoring both threads. I have to say Mike that your remark to Tom was very rude. It seemed like he was just trying to be helpful and I thought that's what WAHM.com was all about......helping each other.

I'm still not sure which company I will sign with, but I am certainly glad I didn't sign up through you.

This is just something to think about since you never know who might be watching.
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  #19 (permalink)  
Old 07-13-2011, 06:16 PM
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Beth,

I understand how you might think that, I'm sorry you got that impression.

But about Tom you don't know my reasons for responding that way.

The moderators I contacted do.

I apologize for what you consider my being rude and if you were insulted.

Maybe if you knew what's really going on you'd might be a little crass as well.

Xpress Healthcare is a great company and if you join,

Whom ever you sign under I wish you great success.
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  #20 (permalink)  
Old 07-14-2011, 10:46 AM
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I spent many years as a tax preparer in a tax prep office. I did loads of schedule Cs. Julie is right. Keep good records and you will have very few problems. If you have all your ducks in a row, an audit is nothing to be feared. Best advise given regarding an IRS audit came from my boss, a petite CPA from the islands:

Since audits usually begin with postal communique:

1) Always file a truthful and accurate tax return. Then any audit will just be a random and routine exercise for the agent.

2) Only answer the question they asked in their original query. (don't confuse the issue)

3) NEVER volunteer any information. Just answer questions. (again, don't confuse them)

4) Only provide COPIES of documents (the 1040 and related forms are the only originals they need - you keep copies of those) (You will never get back any document you send IRS and they frequently get 'lost' so send copies only.)

5) For 'in person' audits, send your tax attorney with only the information originally asked for. Any additional questions require additional research and information and your attorney will not have that with him. (This forces the Agent to stay on task and not wander off into fault-finding.)

6) Be confident in your numbers and you records. You will have nothing to fear.


Edited to add:
7) If you cannot afford a tax attorney, do not have a tax representative or choose not to use one, then when You go, only take the information originally asked for. If you don't have something with you, they will have to either reschedule the audit for the additional info wanted, or they may drop the new question entirely.

and
8) If you are not experienced filling out the 1040 Schedule C and associated forms, take your records to a paid tax service that will go with you if you get audited. It is worth every penny you pay them and tax prep fees are deductible the following year. Ask your tax preparer for a list of what you should bring - often they give free consults.

Just be honest. Your preparer can only get in trouble if (s)he knowingly commits fraud. YOU can get into trouble just for being ignorant.

Ultimately, you are the one responsible for your tax information.

Last edited by hon3y; 07-14-2011 at 11:54 AM.
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