If you’re running your own business out of your home which includes MLM companies, Network Marketing companies, Direct Sales companies or any type of employment where you are deemed self- employed, then it is your duty to be current on Internal Revenue Service, IRS, rules and codes that apply to the self employed.

The following is a brief summary of what you should know and what you really need to know regarding the IRS and how it views the MLM – Network Marketing – Direct Sales industry. Network Marketing has long been recognized as an extremely important industry by the IRS. In the year 1982, the IRS specifically recognized the independent contractor status of direct sellers. Subsequently, the IRS issued a number of materials addressing the issues of self-employment workers and home-based businesses. The IRS specifically addresses the issues of network marketers in IRS Publications 911. Please refer to the Tax Guide for MLM and Direct SellingMLM Reps, Network Marketing Associates and Direct Sales Distributors: Here are some very interesting facts that will give you a much more broad perspective on this industry.

Here are the top five reasons that people join MLM – network marketing companies:

In summary, be certain to hire a tax preparer or accountant that is well versed in the updated rules and codes of the IRS that are related to Direct Selling which includes most MLM and Network Marketing Companies.If you are serious about growing your home based business, and are serious about securing a future for both you and your family, check out some more great free information at http://www.FreeMLMsuccessReport.comThank You, Jane QuadeHome Business Specialist

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Members of multilevel marketing (MLM) currently are growing by leaps and bounds. But just as there are multiple members of MLM, there are as many myths and misconceptions that surround those who practice multi level marketing.

The following are myths commonly associated with MLM.

First MLM myth: Multi level marketing is a form of pyramid scheme.
The fact is that – it is not. Fist of all the obvious difference between MLM and a pyramid scheme is that the former is a legal means to perform business while the latter is definitely illegal.

The common process in a pyramid scheme is that you usually have to part with a significant amount of you hard earned money in exchange for literally nothing. You get no visible services or goods. What you are supposed to have is a lot of luck and a chance to double, triple or quadruple the money you put in – if that is ever possible. But chances are — and there is a lot of chance of this happening – the only person or persons that do get rich are the ones on top of the pyramid.

The idea is that pyramid schemes is a way to transfer funds from one person to another.
But in multilevel marketing, you are given the opportunity to involve yourself in a system of business that is legal. There are actual products distributed among MLM members and networks composed of various clients and buyers.

Second MLM myth: Multilevel marketing provides better money making prospects than
conventional businesses and business models.
The fact is that that is not the case for all MLM ventures. There have been instances where only a mere one percent of MLM investors and distributors actually gained profit. Meanwhile, those who earn a living via MLM are also smaller in number.
The conclusion that opportunities for success in a multilevel marketing business is slim is mathematically sound. This is because the structure of MLM can actually support a very small number of successful MLM winners.

Basically the system is unstable and the quantity of distributors in a specific area is unlimited, also there is no clear or specific market potential evaluation.

Third myth: Multilevel marketing is a Ponzi scheme in disguise

The fact is that – it is not. A Ponzi scheme derived its name from a man who existed during the 1920’s whose last name was Ponzi. Charles K Ponzi operated a scheme wherein older investors earned money literally by sitting down and doing nothing thanks to the influx of money invested by newer members.

The difference between a Ponzi scheme and a pyramid scheme is that the Ponzi scheme ollows no clear structure or hierarchy. Actually, there is only one — lucky – person who collects money acquired from new investors. This person then uses the collected funds to reward, award and give these cash to older investors who were earlier promised that they will be given the proceeds originally promised to be given to them.

So the bottomline is: if you are involved in a Ponzi scheme, you are then merely paying off profits originally promised to earlier investors. Ponzi schemers make you believe that they will help you make money when in actuality they are taking your money and giving it to those investors who earlier put their money in long before you did.
In a Ponzi scheme there is also no visible goods and services provided or distributed.

Fourth myth: Multilevel marketing is a way of life that gives you security and fulfillment.

The fact is that — it does not. In reality no such business exists that will give anyone a secure and fulfillin way of life. No business is perfect, there will always be financial ups as well as financial downs. And multilevel marketing is just as subject to that.
Unfortunately most MLM advertisements and come-ons involve truly tempting forms of materialism. The excesses presented by multilevel marketing companies would make even Fortune 100 companies blush. Most MLM ventures promise scandalous wealth, personal fulfillment and luxury.

Fifth myth: Multilevel marketing is as easy as one two three.

The fact is that MLM is not for the lazy at heart. There is a misconception that MLM equals to easy money. Some even think that all they have to do is establish a few contacts – preferably those they already know like family and friends – and from there wait for their checks to arrive in the mail.
Most people who actually get rich from MLM ventures are those that worked the hardest.

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Multi-Level Marketing (MLM) home based businesses have very little to do with the selling of products. The very reason they are called MLMs is that those levels are what makes all the difference. The difficulty with MLM schemes and home based businesses is the building of as big of a downline as possible. Downline members are basically people who you refer to become part of the MLM sales team below you. These members then have to do the same, with more members in their downline, and each member in the downline at that level have to keep doing this before profits really begin to look like profits.

One way to find prospective downline members (or recruits) is lead generation. This is not as simple as it sounds and needs some amount of planning. Naturally, it is not going to be as easy as people seeing the advertisements about your home based businesses, its products and getting excited enough to sign up instantly. There are millions of MLM home based businesses out there with the same products and payouts. Most people considering joining an MLM scheme will have questions. At the very least, you should be able to answer all of these questions without repeatedly emailing backlinks to a FAQ page. To that end, you must familiarize yourself as much as possible with the MLM distributor, the products, and the compensation plan.

You have to have a comfort level with the knowledge about your own home based business so that when you talk to people it shows through. You might generate a ton of leads but if your answer is not satisfactory, chances are you will not convert most of those leads. Some sort of appointment calendar or planner should also be kept diligently so that follow-ups are not missed. It can take several callbacks before people will be willing to invest in your MLM home based business. You are basically selling, and selling can take convincing many times over.

So once, you know everything about your MLM home based business and you have the few basic sales tools in place it is time to start generating leads. To begin with, make a list of everyone you know, friends, acquaintances, relatives, anyone with a computer and an internet connection that could be a prospect. Start with these people. If you make mistakes in your sales pitch, they will forgive you and since their answers will be more candid, this will make good practice for later on. One important thing to do upon discovering that someone is not interested in your MLM business is to ask him or her for a few names of people who might be. This way you can build a healthy network of contacts. Sometimes they may hesitate to give you the names, so just ask politely for only the names of the people they feel they can give you without any trouble.

Start collecting business cards, email addresses, and phone numbers. This is for the purpose of making cold calls because you never really know who might be interested. Cold calling is one of the most difficult things to do for any fresh salesperson. It might be uncomfortable in the beginning but keep at it. All it needs is confidence. There is no trick to it. Then there are the MLM trade journals, another good lead generation source for home based businesses. People considering MLMs are already reading these journals. Sometimes it is a nice touch to include a press release, along with your advertisement. Naturally, the first rule of advertising is that your ad should be unlike all the others in order to get attention.

Most affiliate programs will have a hidden cost for those who don’t know better. That is the purchasing of MLM leads. The trouble is there are probably dozens of people out there with the same leads and the competition gets tougher. A lot of companies will have a list of emails and phone numbers for people who in the past might have shown interest in MLM opportunities. Purchasing leads for MLM home based businesses is finally a matter of how good you are at converting those leads.

There are a lot of people out there and a lot of websites that are in the business of nothing but selling leads. Therefore, before buying leads for a MLM home based business make sure that the leads are relevant and that a genuine company of good repute is providing them. A list of emails and names can be sold many times over, make sure you are getting fresh leads only. Do some background research on the company selling leads. The Do Not Call registry has phone numbers that you should not buy. Checking for those numbers is up to you. The company selling you the numbers is not required to do this.

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MLM failure after MLM failure, that’s the way my MLM career began. Sadly, most people give up on MLM before they ever achieve any success whatsoever. What I didn’t know at the time, was that all my failures were actually preparing me for phenomenal MLM success!

You may have failed at MLM over and over again, but have you ever stopped to think what you have learned along the way? If you’ve paid any attention at all you’ve learned a lot more than you probably realize. If nothing else you’ve certainly learned what not to do!

MLM isn’t about convincing people to do anything. Most MLM rookies make this mistake so often you would think that they would begin to understand. The harder you work to convince your prospects that this business will change their lives, the more likely they are to never get involved in the industry.

I had to learn this lesson the hard way even after I had become incredibly successful. It’s entirely possible for you to still be learning valuable lessons even after reaching financial goals that you thought would elude you forever.

Many years ago we were enjoying the tremendous life that MLM success can give you. What I’m really trying to say, without actually saying it, is that I wasn’t really working my MLM business because I didn’t have to. Our company was offering some kind of incentive, it’s been so long that I really can’t remember what it was, but I had been goofing off for so long that I didn’t have any prospects in my prospecting pipeline.

It was the final day of the promotion and I was meeting with a successful businessman and sharing with him how great our business was. By this time I was no longer trying to convince people that my MLM opportunity was right for them, but I was selling really hard that day trying to qualify for that special promotion.

I finished what I knew was a great presentation and there was no doubt in my mind that this guy was going to sign on the dotted line. I was exceptionally proud of myself when my prospect said the words that I will never forget. “Scott, if your business is so awesome why do you have to have me sign up right now?”

My heart sank, and I struggled to answer his question. Then the right words just flew out of my mouth, “I don’t need you to do this right now” I said. Then I thanked him for being honest with me and realized that I had just learned a valuable lesson. Trying to convince people to join your MLM opportunity makes you look desperate!

Sure it’s easy to get frustrated and quit. Just imagine how much better you’ll be if you just stay in the game long enough to learn valuable lessons that will pay huge dividends over the next 5 to 10 years of your life. I’ve shared that story with thousands of people in my MLM business and some of them understood exactly why I was sharing that story with them. So they wouldn’t make the same mistake I did.

That day I blew it. Perhaps at some point in the future that prospect may have joined my team and perhaps he would have been an MLM superstar. That wasn’t going to happen now because I had given him the wrong impression of our industry.

How often do you think MLM rookies make that same mistake? One of the biggest reasons people fail in MLM is that they fail to learn valuable lessons along the way. It’s so much easier to start believing that MLM doesn’t work isn’t it? It can’t be my fault. What if you quit blaming everybody else and started to realize that we all have a lot to learn on the way to success?

Hopefully you’ve got an upline mentor to teach you how not to do this business, but even if you don’t, stay in the game and learn from your own mistakes. You’ll be amazed just how much you can learn and how much better you life will be when you do.

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Watching Britney Spears self destruct is eerily similar to how most MLM newbies ruin their shot at life changing success.

I’m not listening to anybody.

If it wasn’t so sad and totally unnecessary perhaps Britney Spears ruining her life in front of our very eyes would be comical. Comedian Dennis Miller refused to make light of the situation in a recent interview because it’s so obvious that Britney doesn’t have a clue.

I’m deeply saddened by MLM newbies all the time as they choose to fail because they won’t listen to anybody, not even the people that want nothing but the best for them. We’ve seen hundreds, perhaps thousands of people come and go in MLM because they wouldn’t even stop to consider the possibility that somebody could help them.

What is it that drives us to go our own way when we make such devastating mistakes in our lives?

Success in MLM is not life or death, however failing to reach our potential and living lives of quiet desperation is cruel and tragic in its own way. What we’ve seen in more than a decade of phenomenal success in MLM invigorates us and saddens at the same time.

Having lived through our own personal “downward spiral” we can come to terms with what Britney is going through and can only hope that our experience, as well as hers, might inspire somebody to turn their life around.

Mired in mediocrity for almost two years, we couldn’t do anything right. Having been a successful radio and TV personality before that awful time in our lives only made it harder to accept the pathetic free fall that we were facing.

And then we found MLM. Sure the money has made a huge difference in our lives but it’s all the other things that our MLM opportunity has given us that has made the biggest difference in our lives.

Why don’t we talk about the personal growth benefits of MLM more often? Perhaps every MLM training should include the personal testimonies of the many lives that have been forever altered for the better, thanks to this much maligned industry.

If only MLM newbies and Miss Spears would start listening, perhaps they too, would find a much better life. So many lives could be so much better if only we would open our ears more often.

Success in MLM , as in life, doesn’t have to be as difficult as we make it.

I can do whatever I want to.

One of the reasons we love MLM so very much is that we own our own business. We are not required to report to work at a certain time or perform a task that we cannot stand wearing a certain kind of clothing that we would rather not wear.

In MLM we are our own boss, something we cherish but something that frequently causes well intentioned MLM newbies to fail. Although we haven’t heard Britney say it, the way she blatantly ignores the words of all who care about her, implies that she relishes the opportunity to remind the world that she can do whatever she wants to.

Such is the battle cry of many an MLM failure! It’s my business and I can run it any way I want to.

Yes you can, but sadly with that attitude you will, most likely, fail to achieve any success whatsoever.

Like we said before, if it wasn’t so tragic, it would be comical.

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