Real estate investing has become popularized today because of real estate investing TV infomercials and traveling seminar circuits. But real estate investing has not always been so popular.In the 1960s, William Nickerson wrote, “How I Turned $1000 into Three Million in Real Estate” and “How to Make a Fortune Today Starting from Scratch.” It was one of the first real estate investing books to get national attention. A little later, Al Lowry authored “How You Can Become Financially Independent by Investing in Real Estate.” Al Lowry might be called “the father of the modern-day real estate seminars,” because he was the first to hold seminars as a result of his book sales.But it was Mark Haroldsen who carried the real estate investing book/seminar thrust to the next level. Haroldsen wrote, “How to Wake Up the Financial Genius Inside You.” If you were tuned in to real estate investing at that time, you remember the newspaper and magazine advertising showing a picture of suave and bald-headed Mark leaning against the front hood of his Mercedes. The picture appeared everywhere in full page ads of major publications. And as Mark began selling his books, he began holding real estate investing seminars. I have had lunch with Mark and Al Lowry as they swapped stories of the advertising blitzes that vaulted them into national prominence for their real estate investing prowess. Mark later wrote “The Courage To Be Rich” and “Tax Free.”But it was Robert Allen who capitalized on the previous groundwork by Lowry and Haroldsen. Robert Allen was reportedly paid $1 million advance royalties for his best-selling book, “Nothing Down,” a compilation of 50 techniques for buying property with no money. Robert had learned these techniques from several years experience with a commercial real estate firm. He later wrote “Creating Wealth” and “Getting Started in Real Estate Investing.” The Robert Allen Real Estate Investing Seminars became a phenomenal marketing bonanza. Conventions were held in the major cities across the country, like Orlando, LA, Dallas, Chicago and Atlanta. The authors of various real estate investing techniques spoke at these seminars, but their spiel focused on selling packages of real estate investing materials that they offered for sale. Millions of dollars of real estate investing materials were sold at these 3 day conventions. The convention frenzy ushered in what has since become known as “The Nothing Down Real Estate Movement” of the early to mid-1980s.I keep all of these books in my personal library, and you can probably still find them in your public library and book stores. There’s a lot of great information in these books that can make you very knowledgeable, even though some of the ideas are out-dated.We are now presented a variety of ways for making money in real estate investing in TV infomercials, books and seminars. Which is best? Who can say? Real estate investing is learned through trial and error. Real estate investing skills and techniques are acquired by practice. I don’t think anyone can dogmatically recommend a technique best for another person. Every real estate investor has unique needs and is in a unique situation. Objectives of real estate investing differs.However, if you are limited with real estate investing educational dollars and need to generate quick return on investment, I think fixing up cheap houses is an ideal beginning point. Real estate investing in makeover properties generates quick, profitable dollars with low risk.
In the first part of this article series, I looked at the criteria the IRS uses to determine whether your MLM tax deductions are legitimate based on your “intent to produce a profit.” In this second article, I delve into a specific category of tax deductions: business travel expenses.The Major IRS Rule About Business Travel Expenses
There’s one major qualification when it comes to figuring out whether your travel expenses are tax-deductible for your MLM business. Here is the rule:If your business “requires you to sleep or rest away from your principle place of business,” then you may legally deduct your travel and related expenses.So what does this mean? Since you probably run your MLM business from your home office, the tax code allows you to deduct travel expenses for any trip that takes you away from home. That’s simple enough. These travel expenses can include transportation costs (airline tickets, train tickets, or car rentals) plus related expenses like lodging, meals, and tips.Three Additional IRS Rules About Business Travel Expenses
As always, the IRS can’t keep their rules simple. In addition to the major rule above, there are three other rules about business travel that you must follow. Your trip must:1. be usual and customary for your type of business
2. have the purpose of gaining a direct business benefit
3. assist you in and be appropriate for developing and maintaining your businessIn the MLM industry, examples of trips that would qualify according to these three rules include trips for trade shows, corporate trainings, prospecting meetings, and trainings you give.Business Travel Expense Myth-Buster
One more note before you dash off on your next business trip. MLMers are often tempted to justify any and all trips as “business trips” by saying that all people are prospects, thus all trips are business trips. The IRS isn’t going to be happy with you if you follow this rule. To stay on the IRS’s good side, be sure that you can prove that a trip qualifies according to the three rules above. The documentation can be as simple as emails between yourself and prospects who live in the city to which you are traveling, as well as documentation that you actually met with those prospects (such as meal receipts). This proves that you are taking the trip to “gain a direct business benefit.”The IRS has additional rules about mixing personal and business travel, as well as specific rules for documenting your business travel expenses, but this article should act as a good guide to get you started.
Traveling is section of our day-to-day life. Most of us travel because of a single reason or other allowing it to be national or overseas. Traveling always involves probability. So, whether you traveling for pleasure or enterprise, it always safe going with proper travel insurance coverage. If your are appropriately insured, there is a lot worry about the risks associated with traveling like loss regarding luggage or baggage, flight journey delay, accident, medical unexpected emergency or evacuation.Formerly, Travel Insurance was thought to be a luxury. But now travelers are sensitive to factors that are definitely not under their control for instance trip cancellation, medical unexpected emergency, evacuation, flight delay, losing baggage etc.There are numerous kinds of insurance insurance policies. Travel Insurances comes looking at you in different shapes like Travel Medical care insurance, Travel Medical Insurance, Holiday Insurance etc. Whether it an enterprise or leisure trip, proper insurance is essential because of many motives. It protects your go investment, belongings and health and fitness. You can hold take a trip insurance for personal and business purpose it is usually true that a right insurance makes ones trip memorable.Apart coming from personal insurance, Business Travel Insurance also covers computers and also other business equipment of marketers or travelers who travel for your business purpose. Business Tour Insurance makes perfect sense it is always a policy or contract under that the insurance company agrees to pay a amount of cash to the insured to get a damage or loss or injury by means of some uncertain event in the course of his trip. This range from flight delay, baggage damage, medical emergency, accident or perhaps disasters. Under a Internet business tour insurance contract, the insurer pays pertaining to business loss or damage faced by insured during his visit.Many things can make a mistake during your business journey. This can be a person’s baggage loss or a new flight cancellation, or your destination become unreachable because of bad weather, or even you are able to fall ill and ought to postpone the trip. You can not control such events, but through proper Business Travel Insurance cover, you can minimize the outcome. Whether it is usually a small enterprise or a sizable corporation, the success of your business is largely dependent on the dedication and effort of the members of their organization. But it doesn’t matter how industrious you might be, because one disaster or perhaps catastrophe can destroy your online business and wipe out each of the profits. The only way to assure that the effort and money that you just invested doesn’t fade away each time a disaster smacks is by protecting your organization with appropriate insurance.Learn more on Travel Insurance at Express Business Traveller