Are You Overpaying Thousands To The IRS?

Make $32K A Year?  If So, You’re Richer Than 50% of American’s and That’s According To The IRS! 

IF YOU’RE IN NETWORK MARKETING AND YOU HAVEN’T GONE INTO “HYPER PROSPECTING MODE”, YOU’RE MISSING THE BOAT TO FINANCIAL FREEDOM.  THERE HAS NEVER BEEN A BETTER TIME TO BUILD A NETWORK MARKETING BUSINESS!  USE THIS INFORMATION WITH YOUR PROSPECTS AND WATCH YOUR BUSINESS GROW!

• Top 1% of US earners, collectively, make nearly twice that of the bottom 50% OF American tax payers combined!

·        The top earning 1% ($388,000 or higher) of taxpayers in America make 22.06% of all income reported to the government. 

·        That's almost twice the 12.51% of total income earned collectively by the lowest-earning 50% of workers, which represents 68 million.  

·        Yes, 1.4 million taxpayers claim 22% of income earned while 68 million (earning less than 32K a year) share just 12.5%.  

56% of all wage earners (meaning the 9 to 5 slave train employees), pay more in Social Security and Medicare taxes than they do in income tax – which represents money they’ll probably never see again!    

A third of Americans have no emergency savings, according to the National Foundation for Credit Counseling, and 57% of those who have a fund don’t have enough in it. It takes an average 4.5 months to find a job. So a good rule of thumb is that you should have three to six months of living expenses in the bank.

How does your income stack up?

The 2006 IRS tax data also makes it easy for you to know how your income stacks up against that of your fellow citizens. The numbers show that an income of just $31,988 or more puts you in the top half of U.S. taxpayers. Earning a bit more than twice that much — $64,703 — places you among the top 25% of all wage earners.

·        You crack the elite top 10% if you earn $108,905 or more.  

·        $388,807 buys top bragging rights: Earn that much or more, and you're among the top 1% of all American earners.

Before we proceed any further, Do you know where you’d need to be on your companies leadership / pay levels to get into the top 10% income bracket of all Americans……. You should!    

Clearly "employees" (salaried workers), at higher income levels pay the greatest share of taxes, especially when one consider all of the "loop-holes" that are in place for business owners, which can reduce their tax burden immensely (sometimes by over 70%), through "pre-stated" income tax deductions. This means that business owners can write off costs before establishing their taxable income, thus significantly reducing their tax burden.  Next time you hear the tax relief hype being thrown out by political parties on giving tax breaks to people earning less than $32,000.... Consider the real math.  That tax group only pays 3% of the overall tax bill!   A strong recommendation to high salaried employees (those who earn over $80,000)..... Get ready to look for every possible way to secure a tax write off. UNCLE SAM DEFINATELY WANTS YOUR MONEY!!!

LET’S TALK TAXES AND ANOTHER GOOD WAY TO BUILD YOUR NETWORK MARKETING BUSINESS:

If you're a business builder, find a CPA and make sure you have an LLC or S-Corp setup.  Most of the time the LLC will be your best bet.  I strongly recommend that you shop around for your tax professional and tell each one that you interview, that you will offer him/her the opportunity to be promoted to your entire group.  But there's a catch, they must be part of your organization to get this reward..... Think I'm kidding, No Way!  If they want your business and access to an established group of home based business owners, they absolutely need to be in your business. 

Not sure where to start looking for a quality CPA?  Type "Angies List" into your internet search engine. This website offers a great source for all kinds of business owners (are you thinking potential prospects?), so make sure to check it out.

RESCUE PLAN APPROVED, YET STOCKS FALL!   September job losses are the worst in 5 years. Stocks finish their worst week since Sept. 11.  

Treasury Secretary Henry Paulson remarked the other day that this is a "humbling time" for Americans. The American way of life is under pressure. 

Forbes Magazine outlook on the future - Forget about an early retirement unless you "Start Your Own Business Now".  Business owners are likely the only Americans who can realistically retire early with true wealth.

OK, YOU HAVE ENOUGH AMMO IN THIS ARTICLE TO SIGN ANY “INTELLIGENT” (NOTICE I SAID INTELLIGENT), PERSON UP.  YOU HAVE THE RARE ABILITY TO OFFER A TRUE RAY OF SUNSHINE TO MOST OF YOUR FRIENDS WHO ARE ABSOLUTELY FINANCIALLY TERRIFIED RIGHT NOW.    AND RATHER THAN THE DOOM AND GLOOM THAT THEY’RE ALL HEARING RIGHT NOW, YOU CAN TALK ABOUT TAX SAVINGS AND BUILDING A RESIDUAL INCOME!

YOU CAN SHOW THEM THAT IN JUST 12 MONTHS TIME (AND IT COULD BE A LOT LESS THAN THAT IF THEY WORK HARD), WITH REASONABLE "PART-TIME" EFFORT, THEY COULD CREATE THE EQUIVALENT YEARLY RESIDUAL CASH FLOW OF WHAT THEY WOULD EARN PASSIVELY IF THEY COULD FIND A BANK TO PAY 5% INTEREST ON A $1,000,000......THINK THAT'S CRAZY? 

IF YOU CURRENTLY HAVE $1,000,000 IN AN INVESTMENT FUND THAT EARNED A SOLID 5% (BANKS ARE ONLY PAYING 2.5% ON AVERAGE), THIS WOULD PRODUCE A RESIDUAL, OR PASSIVE INCOME OF JUST OVER $4,000 A MONTH OR JUST UNDER $50,000 YEARLY.  SO IF YOU’RE NETWORK MARKETING BUSINESS EARNINGS ARE IN EXCESS OF $4,000 A MONTH, YOUR BUSINESS COULD BE SHOWN AS A MILLION DOLLAR ASSET ON YOUR PERSONAL FINANCE SHEET.  IF YOU’RE EARNING HALF THAT, LET’S SAY $2,000 A MONTH, THAN YOU’VE BUILT A $500,000 ASSET!!! 

IF YOU EVER WONDERED WHAT TYPE WEALTH COULD BE PRODUCED WITH YOUR NETWORK MARKETING BUSINESS FOR YOU AND YOUR FAMILY, THIS SHOULD HAVE EFFECTIVELY ANSWERED THAT QUESTION.   WHY DO YOU THINK WARREN BUFFET (THE RICHEST PERSON IN THE WORLD), OWNS 5 NETWORK MARKETING COMPANIES!  

THE ONLY REAL QUESTION THAT REMAINS IS THIS:  ARE YOU WILLING TO PAY THE PRICE (2 TO 5 YEARS OF HARD WORK), THAT’S REQUIRED TO BUY YOUR FAMILIES FINANCIAL FREEDOM?  

YOUR PARTNER IN SUCCESS,

KEN EGGLESTON

FOUNDER, 500K SUCCESS TEAM

WWW.500KSUCCESSTEAM.COM

Ken Eggleston, Founder 500K Success Team – “Talk Taxes & Watch Your Business Grow”!

More than one out of four workers (28%) age 55 and older said they had less than $10,000 saved, according to the most recent Retirement Confidence Survey by the Employee Benefit Research Institute.  If you’re in your 50s and haven’t saved for retirement, you know you’re in trouble.  There’s no sugarcoating the situation: Your late start is going to cost you.

Run the numbers

Finance expert Roger Ibbotson has done the math and says people who start saving for retirement after age 35 face increasingly strong headwinds.   To have enough to retire at 65, late starters must put aside huge chunks of their income. The older you are and the more you make, the more you’d have to save to catch up if you want to maintain something like your current standard of living and be reasonably assured you won’t run out of money.

At 55, for example:

• Someone who earns $40,000 a year would need to put aside 27% of her income to retire at 65.

• Someone who earns $60,000 should contribute nearly 33%.

• Someone who earns $80,000 would have to save nearly 37%.

• Someone who makes $100,000 would have to shovel in 40%.

Clearly, few people will be able to pull off savings rates anywhere close to those levels.  And what’s the latest slogan to help calm the American workers fears of no money for retirement?  70 is the new 65

 

Another book worth reading is “Your Money or Your Life“ by Joe Dominguez and Vicki Robin, this book deals with the harsh realities of what you’ll need to do if you want to retire by early.  The authors encourage people seeking financial independence — that is, enough money to retire — to examine every expense, from shelter costs to snacks, for ways to cut back.

 

Many “want to be” retirees are opting to move, but its not down the street, or even across the country….They’re looking at leaving the US….. Think I’m kidding?  You need to read “Why Retirees Are Fleeing The US“. 

 

NOW YOU KNOW WHAT THE AVERAGE AMERICAN IS FACING……. AND BELIEVE ME THEY’RE THINKING ABOUT IT!   YOU’RE IN THE RARE POSITION TO PROVIDE THE ANSWER TO NEARLY EVERY PERSONS RETIREMENT BLUES VIA WORLDVENTURES AND THE TAX BENEFITS OF A HOME BASED BUSINESS. 

 

DID YOU KNOW…..

A business owner can put more into tax-deferred accounts than an employee?  And it’s not a little, it’s way more than the employee can. Sole proprietors who are 50 or older can stuff up to $52,000 into a solo 401(k) in 2008 (the limit is $46,000 for people younger than 50).

 

For example…. your average co-worker can only contribute $15,500 to a 401(k). Those 50 and older can only contribute an additional $5,000 to their 401(k)s.  So there’s a huge benefit to owning your own home based business.   

 

IF YOU’LL FOLLOW UP THE BUSINESS PRESENTATION WITH A DISCUSSION ON TAX SAVINGS AND INVESTMENT BENEFITS (AS OUTLINED ABOVE), THAT COME WITH BUSINESS OWNERSHIP, YOUR ENROLLMENTS WILL INCREASE BY 80%!!!!!  IF YOU’RE DEAD SERIOUS ABOUT EARNING 50,000 TO $100,000 WITH YOUR BUSINESS IN THE NEXT 12 MONTHS, ALL YOU HAVE TO DO IS EXPOSE INDIVIDUALS TO THESE ABSOLUTE FACTS.

 

Simply copy and hand out this information to your guests, followed by a couple of simple questions:

• Would you like to pay less in taxes each year to the tune of at least $3,000 to $9,000? 
• Would you like deduct a percentage of your electric, mortgage/rent, cell phone, computer, internet, automobile mileage (the list just keeps going),?
• Turn your children into employees, which allows you even more amazing tax deductions?

Taxes are the largest expense for most people. It exceeds what they pay for food,

clothing, lodging and transportation combined.   According to the American Taxpayer Union, in 1958, the average American paid 18% of their gross income on federal, state, and Social Security taxes.

 

Today, the average American spends 41% of their gross income on taxes.

That means you are likely working 5 months of every year to support the government instead of your family!

What You May Not Know About the IRS…

As a small business owner you have more tax breaks available to you than anyone else. Unfortunately, these tax breaks go unused because most small business owners don’t know about them – and the IRS isn’t telling. Any home-based business, even part-time, that is not a hobby, and is in pursuit of a profit, can qualify for huge tax breaks – it’s US Government law.

“Of each dollar people earned in 2005 in the US, the top 10% got 48.5 cents which was the worst share of the income pie since right before the great depression. And the top one tenth of one percent (.1%) had nearly as much income as all 150 million Americans who make up the economic lower half of our population. The distribution of income in the US now resembles the incomes in Mexico, Brazil and Russia. In 1973, the average US income peaked at $33,000 annually and by 2005 it had dropped to $29,000.

 

So, with three decades of economic growth where did all the money go? Straight to the top. The rich and their lobbyists have taken full control of Washington and the state capitals and remade the rules in their own interests.”

The fastest way to get that raise you want is by just being able to keep more of what you make now. The only kind of income that counts is what you can keep. By owning a home-based business and taking advantage of the tax breaks available to you, you can keep more of your income, even if your business isn’t producing a profit! 

 CLOSING QUESTION AT THE END OF YOUR PRESENTATION…..

 

Do you see the amazing benefit you’ll gain by making a mere ????? investment in (your companies name) today?  After they say yes (and they can’t say no), simply say” ok, get your credit card and let’s get you started”!

Now don’t say another word, no matter how hard it is, make them say the next word or you’ll talk yourself right out of a future business partner!!!!  Remember, you have to take control and ask for them to join, if you don’t 95% of people won’t volunteer to sign-up, even if they want to…

Your Partner in Success, 

 

500K Success Team

www.500ksuccessteam.com

Author, Teacher, Entrepreneur Trisha Ventker 500kSuccessTeam member

Trisha Ventker, established author “Internet Dates From Hell”, has collaborated with hundreds of moms across the country and has become a member of the www.500KSuccessTeam.com , she is quite a woman, balancing so much in life and still helping others managing the tugs life presents to moms.

Trisha Ventker - Author and Success Coach

 

We are excited to be able to collaborate with Mrs. Ventker and work with her team of moms throughout the country.

 

Collaboratively Yours,

Scott Fuller  954-732-2112

SuccessCoaches@aol.com

Scott Fuller Speaks Up on teamwork

Have you ever started a project? 

Laid out a plan, visualized the end result perfectly, gathered the materials, assembled the steps, and prepared the site….we have all done this.

Inevitably, the project takes a little more time than envisioned, it required a few more tools than originally thought, and it required some skills or strength that I lacked just a bit.

A sense of pride flushes over you as you gaze at your accomplishment, and one of the most exciting results is that you “did it all yourself”.  Why is it that we feel intense levels of pride when we accomplish anything alone, by one’s self, without help or assistance?  Does this come from our early days of developmental learning?  When mom would say, “you did it! – all by yourself!”  – somehow it felt better than when I accomplished a task with assistance or collaboration.

The tasks we, as children, tend to celebrate, are the smaller ones; clapping hands, sitting up, standing, fumbling forward, or our very first steps.

Once we branch out to the more complex tasks in life, we learn soon that “going it alone” is not the best way to leverage the skills and talents of others, and begin integrating.  We soon learn that “playing nice in the sandbox”, “sharing our toys with others”, “allow others to go first”, seem to be the new direction we are coached to consider.  Our reward system starts getting aligned to team, sharing, yielding to others.  Very strange, our first steps are rewarded for individual success, our next phase of learning obsess over team success and supporting others’ successes.  No wonder we are completely confused as children growing up.  Being first or being last?  Which do you want me to do?

 

Later on in life we are taught “All for one, one for all!” – “Its a dog eat dog world out there”, “don’t get left behind”, “take what is rightly yours, before someone else does”, “God helps those who help themselves”, “get to the top of the class or front of the line”…wow, this journey is very confusing, somewhat like a roller coaster, vacillating in two somewhat opposing directions in life, being coached in two diabolically opposed directions.

Companies hire only the best qualified, then appraise and financially reward “individual performance” but judge you on teamwork and collaboration.  Boy, this is very strange, is my co-worker my competition or my collaborator?  How can he/she be both?  Why would I want to help my co-worker, or even my boss if ultimately he/she will be competiting for precious few salary increase dollars or commissions and bonuses, or the ever shrinking number of promotional opportunities? 

         Are you totally confused?   Individual or Team? 

I am not surprised at all, our obsession with individual performance is what keeps us on top of our game, continually honing our skills to compete in the market, getting the top compensation for the jobs I perform.  Productivity and constant improvement causing constant refinement of quality.

        Feel free to comment on this blog, as I will continue to post on this topic to help others

      create compeitive collaborative balance in their projects, while celebrating individual

      successes!

 

 

 

 

Your Success Coach – Team-UP!

Collaboratively yours,

 

Scott Fuller - Success Coach

Scott Fuller  954-732-2112

SuccessCoaches@aol.com

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