We are all feeling the pinch of oil at the pump. It stinks and it looks like we need to live with it for a while anyhow.
Just yesterday, I ran across several blogs touting gas at $1.00 per gallon! What a great deal, but then when you get to the nuts and bolts of it it is nothing more than a slimely recruiting tactic by YTB. Buy into YTB and then deduct your mileage to your kid's soccer game and only pay out $1.00 per gallon. As with all of the tax deductions they are touting, this one too is a huge stretch!
What is more offensive is that more and more people are feeling the pinch of the economy, yet this guy is trying to sell a program that fails the majority and he is preying on what likely is one of their biggest concerns right now. And this is the guy that YTB reveres and calls Mike The Travel Guy. Does not seem like he is selling too much travel in this blog! But a similar message showed up in Regina Osei's Blog where she alludes that by joining YTB you can make the money needed to offset the price of gas. Well, I guess if you drive less than 100 miles a year it might--remember, the people that make money in YTB are very few and far between. But don't let that get in the way of recruiting and scamming someone out of their money.
Right now more than ever the price is gas is at the forefront of everyone’s mind. Right now this is what everyone is talking about and what is coming up in more conversations than anything else.
BUT, did you know that as a YTB Home Based Business Owner your gas ‘should’ be only costing you $1 per gallon?
Now before you start thinking that coach is amazing, what oil company did he cut a deal with? - let me say that no matter what home-based business you’re in you can make these gas prices work for you and EXPLODE your business like never before because all gimmicks aside, this is real, your gas only has to cost you $1 per gallon!
Here’s how it works:
1) The IRS provides a .52 cent tax (Just increased to 58.5¢ starting July 1st) write off for every mile you drive that is legitimately related to business.
2) People who do not own a business CANNOT qualify for this tax write off.
3) Everywhere you go, whether its work, church, the kid’s soccer game, or just going to the store can be a legitimate mileage tax write off if you insert business into the equation.
This is EASY to do! It can be done by leaving YTB business cards on peoples windshields, handing people YTB business cards (or Success From Home Magazines), or of course doing a presentation.
Note: You must record your business mileage in case you ever get audited and this is where it typically becomes a sticking point with most people as they do not want to take the time, can’t take the time or forget. If that’s you here’s what you need to do immediately:
Go to www.Xpenser.com (this is a FREE service) and sign up. Now you can simply call a phone number before, during or even after you’ve driven somewhere (that was business related) and leave a voice message such as ... “Soccer game handed out 3 business cards & 14 miles” and hang up.
This FREE service will convert your message to text and log our it in an online mileage log for you.
4) So here’s the $1 per gallon formula (working with round numbers)
- $4.00 Per Gallon
- 20 Miles Per Gallon
- .50 Cents Per Mile IRS Deduction
- 30% Tax Bracket
Those of you with math brains can do the calculation but the basics are a 20 miles per gallon vehicle at $4 per gallon cost .20 cents per mile to drive. .50 cents per mile IRS deduction x 30% tax bracket is .15 cents in real money you pocket at the end of the year and when you deduct .15 cents from .20 cents your at .05 cents per mile or $1 per gallon!
These are real dollars/savings and real cash in your pocket at the end of the year.
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You might be saying “Wow, this sounds great - I see it and I’m excited that my YTB business is going to help me save $3 per gallon on my fuel cost & I’m going to business wherever I go and log my miles”.
PLEASE whatever you do - don’t miss the bigger picture!
