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April 16, 2007
Take Notice
By Drew in Miscellaneous
With the tax deadline coming due very soon there are all kinds of articles to read about taxes and all the subjects that go along with that.
One article I found in the New York Times was interesting to me, and I thought many IBOs should also take notice. David Cay Johnston wrote an article today about the increased audits of the middle class and found some very interesting information about middle class Americans who run a business:
"Middle-class Americans most likely to have their tax returns examined under the new strategy are those who own a business, even a side business, or are landlords or have investment income."
"Middle-class taxpayers who file a Schedule C — freelancers, consultants and very small businesses — are three times as likely to be audited as those in the same income group with no such business income."
So make sure you got those records in order and all of your ducks in a row just in case the IRS comes a calling.
Comments
The article on audits was written by David Cay Johnston and not, as the post states, by David Johnston, who covers the Justice Department.
David Cay Johnston
Yep, During the 10 years we were in, 3 audits covering all 10 years. None in the 5 years since.
"The article on audits was written by David Cay Johnston and not, as the post states, by David Johnston, who covers the Justice Department."
My apologies, record corrected. I really need to stop posting articles in the morning after being up all night
Speaking from the perspective of an Accountant, I can tell you that the reason for frequent audits on "IBO's" is simply that the Government does not believe that they can have such large losses year after year. They go into severe debt just to continue paying into Quixtar one way or another. If they want refunds, they should be asking Quixtar for compensation, not the Government.
As for my personal opinion, I have never seen so much depression and financial ruin as that of Quixtar IBO's. To the public and each other they act as though they are living like rock stars. (The "rich" ones rent nice homes and pretend they live there, to manipulate newcomers !!)
I have tried to knock financial sense into completely devastated, even suicidal Quixtar IBO's, but there is no use.
I refuse them help now. It is sad to see a human put a Company/Product before their own self. If they had a dime to spare, it would somehow go to Quixtar. It's a terrible addiction to false hope.
Christopher Drew wrote:
It's a terrible addiction to false hope.
Addicted:
Not to change the subject, because I think taxes are a huge source of conflict within Quixtar and the MO's, but Christopher's last remark struck me. My husband and I were involved in Quixtar a number of years ago, and I remember being in a meeting and having a leader ask those of us who had a former addiction stand up. Almost 75% of the room stood, professing Quixtar had helped them overcome some sort of addition, including myself and my husband. After leaving Quixtar and undergoing extensive therapy for depression, I realize that I was addicted to Quixtar. Many addicts, whether their vice is drugs, food, pornography, whatever, are drawn to organizations that demand extensive amounts of time and energy, but also give the high that is needed to quench the addictive appetite. I traded the drug induced high for the high of signing another IBO up, or speaking in front of an open, or the recognition from an upline. I'm not saying this is the case for everyone, so please don't attack me if you feel otherwise. I'm just pointing out a correlation between addictive personalities and an addiction to Quixtar. Once I understood that I had traded one addiction for another, it was much easier to sever ties with Quixtar and regain my financial and emotional health. Thank you Chris for your careful choice of words that so eloquently exposes the addiction of Quixtar.
Hey Mister Christopher Drew, I apologize to tell this but you state just bullshit and yet you call yourself and accountant! Are you a real accountant or just what the university receipt says?
Personally, I know a friend named Mahendra Bungaroo who was an an accountant and he retired at age 49 after building his business consistently for a little above 4 years. He used to work 50 or 60 hours per week and he is now happy to spend quality time, day in and day out with his wife and kids. Do you think it was worth it? It sure was! Why did he succeed? Because he chose to! Why didn't you? Simple; because you chose not to.
Gee, what a brilliant and well-thought diabtribe, Christian Anton.
Could you specifically point out which part of C. Drew's statement you take issue with, and your rationale?
Also, you slander C. Drew's claim to be an accounatant, so I'm wondering what part of the post you find to be in opposition to his veracity with regard to that claim?
Also, from his post, what lead you to the conclusion that C. Drew is not successful?
Now, for me personally -
I'd much rather take the word of a 'guy who knows a guy who knows an accountant' than to get any advice from an actual accountant. It just makes sense!
WOW!
You know what's funny? When IBOs come on here bragging of how much they are amking from A/Q and then brag about their huge tax returns. :)
"Why did he succeed? Because he chose to! Why didn't you? Simple; because you chose not to."
You make it sound like just because someone wants to succeed at something and tries their very best that that guarantees they will succeed at it.
Ain't necessarily so.
Cristian Anton: Hmmm...It's funny, because Mr. Drew is actually speaking the verifiable truth. Take Larry Winters for example...$1.5 Mil in tax liens. Think for yourself Cristian. Stop letting these phonies tell you what to think and believe. You are reading these posts...aren't you? Don't take his or my or anyone's words for face value. Just think and verify the facts for yourself.
I'm sorry to upset you Cristian. Many businesses have losses to start up and losses here and there. But they do not get to claim vacations, motivational aides, personal products, renting houses and cars by the day or weekend, (claiming to own them) and neither will you.
It's not legitimate business, not to the Government, not to business owners, not to us, not to anyone but IBO's of Amway/Quixtar.
I am honest and go forward in life a little better each day. I will never go bankrupt, nor MORE importantly, would I let anyone else go bankrupt for me to succeed. I own my homes and my vehicles and everything in and on them. I have no debt.
Your anger is being sent in the wrong direction Cristian.
Levi Levi Levi!!!! (this comment to, or anyone who know, Levi)
Hey I'm starting the TEAM...but now I have MAJOR MAJOR MAJOR doubts about it. I was reading in this site comments from Levi and if any of you know who I'm talking about...or, Levi, if your reading this right now, I would really really LOVE to get info from you about your business, PLEASE
-Angelica
I wonder how an IRS agent would react if an IBO said "the facts don't matter"?
Posted by: Joecool18 | April 16, 2007 8:05 PM