Law of unintended consequences: We are FINALLY going full steam ahead with an MLM. The tax deductions are huge. When we fly to Chicago to visit our children and grandchildren, the whole trip is tax deductible since she is one of our downline. And driving trips into neighboring cities and states, and many meals at restaurants.
We can lose money for three years and then make just a little after that...
MLM should be a hugely growing business model as more and more people put two and two together. We’re not Amway but this may be a huge shot in the arm to such businesses.
What’s an MLM?
Another benefit is that I take half my year's earnings at the beginning of the next year as a distribution, which, being passive vs. active income, avoids FICA's devastating 15% hit.
The key is finding a good bookkeeper to handle all the paperwork regarding taxes, legal matters, etc. That made it happen for me.
