The IRS has been searching for "Amway and federal tax" on my site and reading the pertinent postings regarding Amway tax cheats, so I thought I'd revisit the entire "Get a Tax Refund if You're in Amway" thing that the Amway cult leaders have been promoting for a number of years now.
Everything in Amway is a tax deductible, according to our Amway upline, and Amway tax returns are considered part of an IBO's revenue, according to our Amway upline. To put it another way, an IBO's only way to make money in Amway is to deduct the costs of running his or her business from the income they get from their regular job, with the only Amway income coming in the form of a tax refund. Our upline assured us that we would receive a substantial tax refund if we deducted all of our Amway expenses, whether they were genuine or not.
When I went to Amway meetings, I sat in on the Platinum level meetings, and it seemed like everyone else in the room was gushing about how things couldn't be better and how their Amway business was booming. Following that, these same IBOs claim they will receive a substantial return after submitting their income taxes.
My Ambot was completely captivated. He had no notion that, according to our upline, the key to earning a tax return was to become an Amway Independent Business Owner (IBO). The government is giving you money for nothing!
Refund? When your company is performing well, it's easy to have a good chuckle.
Ambots are unable to comprehend this concept.
If your firm generates an excessive amount of revenue (income) and you do not have an enough amount of deductions (expenses), you will owe money at tax time. Yay! Everything is going swimmingly!
Generally, if you do not earn much money and your costs exceed your income, the government will pay you a refund. Boo! Business is a load of shite!
In other words, it is nearly impossible for an IBO to declare that business is booming and that they are making a lot of money in Scamway while simultaneously claiming that they are receiving a substantial tax return on the other side of their mouth. Alternatively, tax return money from running an Amway firm, as ambots refer to it.
Most Amway IBOs, in addition to being fictitious business owners, hold down a day job with a legitimate corporation and earn regular paychecks. When tax time comes along, those sly Amway bastards deduct all of their Amway expenses (XS, Perfect Water, vitamins, food bars, motels, function tickets, meals, travel, and so on) from their job's revenue, so increasing their take-home pay.
That is the only way most Amway independent business owners (IBOs) make money. By classifying everything they spend on Amway as a business expense and deducting it from their salary, they can reduce their taxable income.
They are little ambot bastards who lie about everything! Tax evaders, take note!
Now here's a major hint, ambots! Food goods (groceries!) and items used for cleaning around the house can't be deducted as business costs in order to earn a tax return unless you run a grocery shop, according to the IRS. If you're an Amway Independent Business Owner (IBO), and you're claiming travel and restaurant expenditures on your taxes, you better be able to demonstrate some sort of Amway income profit from the sale of Amway items. If Uncle Sam manages to track you down, you'll be up the creek without a paddle!
People who run a respectable business that has nothing to do with Amway, how do they feel about it? Legitimate business owners have tax identification numbers, business licences, insurance, and accounting software into which they enter all of the money received from clients and all of the money spent in the process of running our businesses, among other things. Expenses incurred in the course of conducting business that can be deducted. During tax season, we back it all up on a CD and hand it over to our accountants. This is due to the fact that we are wise enough to hire the services of a professional who checks that we have entered everything correctly and that we have not left any information out, and who also does everything in their power to ensure that they write off as many legitimate expenses as they possibly can so that we have less money to pay back to the government in what we owe in taxes.
Everything in Amway (XS, Perfect Water, vitamins, laundry soap, and cleaning goods, among other things) is a valid business deduction, which is a far cry from "counselling with upline."
As a matter of fact, our accountant did not agree with the jerks in our Amway upline! Refused to deal with anything that had to do with Amway. Instead of dealing with pyramid scams, accountants prefer to deal with respectable enterprises.
So much for the adage "never challenge your superiors"!
Preparing for an audit is essential if you are running a fictitious Amway business and following your upline's guidance on how to file your taxes so that you can earn your money in Amway by receiving a government tax refund check; otherwise, you could find yourself in serious trouble.
If nothing else, we were told when we visited Amway, that the company is a good tax haven. The taxman, on the other hand, might disagree. Another source of interest is provided below:
The Internal Revenue Service to Amway: The Party's Over!
http://www.hiddenmysteries.org/conspiracy/conspiracy/amwaybush5.shtml
In addition, if you're an Amway loser who doesn't have a REAL business plan and your a$$ gets hauled into tax court because the IRS determined that you're a tax fraud, you're pretty much screwed.
https://www.parkertaxpublishing.com/public/tax-deduction-amway-distributorship.html
Amway is one of the most successful companies in the direct selling sector and is recognized all over the world for the quality of the health and wellness goods, personal care items, and home care solutions that it offers. The corporation is well-known for its use of the multi-level marketing strategy, often known as the Amway distributor business model, which enables independent business owners to generate money by promoting and selling Amway products.
Some Amway distributors, commonly known as "ambots," utilize boasting about the size of their tax refunds as a technique to persuade others to join their organization. This is a common strategy used by these individuals. This strategy is frequently utilized to make the Amway opportunity appear more alluring by assuring prospective recruits that they, too, may obtain sizeable tax refunds if they join Amway as a distributor.
Although it is true that Amway distributors are allowed to deduct certain business expenses on their tax returns, such as the cost of products they purchase for resale and other expenses related to their businesses, the idea that becoming an Amway distributor will result in a large tax refund is misleading.
When weighing the pros and cons of becoming an Amway distributor from a financial perspective, the following are some important considerations to keep in mind:
However, there are limitations placed on the deductibility of business expenses. In order for Amway distributors to be allowed to deduct some business expenses on their tax returns, such as the cost of products they acquire for the purpose of reselling, the distributors must be able to demonstrate that these expenses are commonplace and required for the operation of their business. In addition, there is a cap on the total amount of expenses that can be deducted each year, and the Internal Revenue Service examines the deductions claimed by businesses very carefully to ensure that they are not fraudulent.
Even though some Amway distributors may be eligible for a tax refund because of the business expenses they incurred, they will still be required to pay taxes on any income they earn from their Amway business. This include not only the commissions they receive from Amway but also any earnings they make from the sale of Amway products.
Because the tax circumstances of each individual are different, some Amway distributors may be eligible to receive a sizeable tax refund due to the business expenses they incurred, but this is not necessarily the case for everyone. The amount of taxes owing or refunded to an individual is determined by a variety of criteria, including income, deductions, and credits, and the circumstances of each person's tax return are one of a kind.
Although Amway distributors are allowed to deduct certain business expenses from their personal tax returns, the idea that becoming an Amway distributor will result in a significant increase in the amount of money that is refunded to them is misleading. The promise of a tax return should not be the deciding factor for anyone who is thinking about being involved in the Amway opportunity. Instead, that person should give serious consideration to both the possible expenses and rewards of the business. In addition, it is essential to seek the advice of an experienced tax specialist in order to make certain that all of one's tax commitments are met and correctly accounted for.
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