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Best Practices, #9

Best Practices: Promoting the Benefits of Becoming an IBO

Hello –

We can think of many great reasons for becoming and IBO – and many wonderful benefits to talk about with prospects who are considering launching their own businesses powered by Amway. Our Best Practices specify that while we can share many benefits as motivation for becoming IBOs, we cannot encourage people to start their own businesses purely for tax benefits.

The Amway IBO Compensation Plan (“Plan”) offers a great opportunity to make money, own a business, meet new people, and use and sell premier products.

The Plan is not meant to be a source of tax benefits or relief, and it should not be confused with unscrupulous tax avoidance promotions. It is a violation of Amway Rules of Conduct to promote tax benefits to prospects as a principal reason for becoming an IBO.

While there are provisions in tax laws that assist small business owners, no one should encourage a prospect to start an AMWAY™ business in order to be able to deduct various personal living and travel expenses from his or her income. The tax laws are in place to help those who operate their businesses with the honest objective of earning a profit – not as tax shelters. In those cases, and with proper record-keeping, IBOs can deduct most ordinary and necessary expenses incurred in the operation of their businesses. The IBOAI website contains some resources that IBOs may find helpful in this connection. However, you should consult a qualified tax advisor (preferably a CPA/CGA) for specific guidance about your personal situation.

We hope this Best Practices message helps as you continue your commitment to running your business by the highest standards. We want more people like you in our group, so keep looking to share the AMWAY™ business opportunity with those you meet. Not only is it rewarding for you, but you can help others achieve their goals and dreams, too.

We’ll be sharing Best Practices messages each month, so keep an eye out for them. Please feel free to contact me, Lisa Pennington, if you have any questions. And in the meantime, keep leading the way – we’re very proud of you and the ways you are building your business.

All the best!

About Best Practices

Best Practices messages and training are part of the ACCREDITATION PLUS™ Program, a commitment between Amway and Approved Providers of Business Support Materials (BSM) to achieve the highest quality in business practices designed to help provide the best possible opportunity for IBO success. Educating IBO’s about Best Practices is a requirement for participation in accreditation. With dozens of multilevel marketing business opportunities available today, no other direct selling firm offers a longer history of stability and reward, and greater potential for growth and expansion than Amway. Adherence to Best Practices is key to preserving and enhancing the AMWAY™ business opportunity.

0 to 100 Club - Get Ready!

You've made the decision - now what? Where can you find accountability support and the other team members that are stepping up to the challenge? How do you go about tracking the numbers and what is the deal for the trip to Australia? When is the trip to Australia?

     

All this and more coming soon....

Check back often!