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Ken Nielson uses Legitimate Tax Deduction examples for MLM Business on Count on the Truth Radio with Peter Mingils
Manage episode 492243524 series 3648685
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MLM is a great industry for people who understand it and misunderstood and manipulated by people that look at anti-mlm content creators.
Ken Nielson is a network marketing distributor, a leader and a pro at building a home based industry.
See why it's easier today than at any time on starting a running a business. On this episode, It's about legitimate tax deductions like gas mileage and business use of the home in MLM. Peter Mingils shares some examples of how this may work in your MLM or any other type of home based business.
Ken Nielson runs a home based business successfully and hosts this Building Fortunes Radio series to show people the benefits of building an MLM. Network Marketing still may be the best opportunity for personal health and financial stability in today's economy.
http://freedomteam1.com is a place to opt-in to form more information about Ken Nielson's system.
Ken Nielson displays this and a lot of other information on his website https://countonthetruth.com
Here is one example of the mileage deduction:
For independent contractors in 2025, the standard mileage deduction set by the IRS is 70 cents per mile for business use.
It's important to remember that:
- This rate covers costs like fuel, insurance, lease payments, registration, vehicle maintenance, and depreciation.
- You must track your business mileage carefully, including the date, purpose, and miles driven for each trip.
- You can also deduct business-related parking fees and tolls in addition to the standard mileage rate.
- While Texas doesn't have a separate state mileage deduction rate, it generally follows the IRS guidelines for tax purposes.
- You have the option to use either the standard mileage rate or deduct your actual vehicle expenses. For independent contractors, the standard mileage rate is often simpler, but in some cases, deducting actual expenses could result in a larger deduction if your costs are very high
The post Ken Nielson uses Legitimate Tax Deduction examples for MLM Business on Count on the Truth Radio with Peter Mingils appeared first on Building Fortunes Radio Network.
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