December 23, 2008
Tax Writeoff’s from Mulit Level Marketing / Independent Contractor?
MO asked:
I signed up with a multi level marketing company last year. The biggest bonus for me was the advice from others in the company that you can use this business as a tax write off for your meals, office supplies, cell phone, car expenses, etc.
I signed up with a multi level marketing company last year. The biggest bonus for me was the advice from others in the company that you can use this business as a tax write off for your meals, office supplies, cell phone, car expenses, etc.
1) Is this true that you can write off all of these things if you are not actually making any money from this business?
2) I did not renew with the company this year, so I’ve only really been with them for half of 2008, can I still use all of the year for write off’s?
3) Are there any other companies out there or ways that I can do something for the remainder of this year and next year for write off’s?
Thanks!
Filed under Other - Taxes by John