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.
Importance of Business Travel Insurance
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
The Construction Industry of the Future – What On Earth Is Holding That Building Up?
In the future we will have super strong materials for the construction industry which are transparent, or see-through. Consider if you will carbon nano tubes which are between 50 and 100 times stronger than steel for the same weight and thickness, and also quite transparent comparatively speaking. Also consider graphing coatings which are only one atom thick, but add quite a bit of structural support when they are shrink-wrapped onto a surface holding it all together. Let’s talk about transparency in the future of the construction industry from might.The graduate students at MIT have also come up with a way to bend light around objects. That means the support structures made out of these high-tech materials are not only transparent, but because they do conduct electricity it would be quite easy to repel light beams around them. Therefore a building might appear as if it is floating on air. Imagine that for a moment. That sounds pretty cool doesn’t it?In fact, they are already planning on putting offshore wind turbine towers which are 400 feet high off the coast of Cape Cod, and then bending the light around them so you wouldn’t even see them. Occasionally, you might see light from the sun flickering off the large rotating propellers, but you wouldn’t see the large giant steel structures holding it all up.This of course is just one example, indeed, small dams on small rivers might be made of the same material, and all you would see is a wall of water, but not the dam made at of carbon nanotube structure, which would give you a totally different perspective, not to mention being able to see the fish below for instance. Would this create greater ambience? I guarantee you that architects will be using these techniques, technology, and strategies in the near future, as all this becomes available. It will be up to the construction industry to figure out how to do it along with the engineers, and we will begin to see more and more of it as time progresses.Interestingly enough, once these structures are created in a flawless manner and processes and procedures in manufacturing keep them safe, they will replace concrete, rebar, steel, glass, paint, tile, and just about everything that we use in construction these days. Indeed I hope you will please consider all this and think on it, because the future of the construction industry is moving forward with or without you.