The MLM Tax Helper software is a great tax tool for the Nu Skin distributor.
The software is easy to use.
Info Tab: Provides links to assist you.
Get Started Tab: Customize the software for you (name, tax year, mileage rate, etc…)
Transactions Tab: This is similar to a checkbook in which you date the transaction, identify its payment type, category, description and amount. The Automated mileage to dollar amount is a good feature.
Search Tab: Search for a transaction by date, payment type or category.
I really like the tabs that allows you to see how your business is operating each month, each quarter or each year.
So…what was your net income in the 3rd quarter of last year? Just call it up.
The quarterly statements allows you to know the net income of your small business so that you can pay your self-employment tax based on an accurate dollar amount.
The home office feature is excellent. Just enter the square feet of your house or rental and the size of your office space. Then enter your normal mortgage/rent payment, utilities and any other misc. expenses. The software calculates your quarterly and yearly tax deduction for your home office.
The yearly summary is key aspect for your small business. This allows you to transfer the consolidated year information into your federal and state income tax forms.
Overall, I give the MLM Tax Helper a thumbs up as a tool that can greatly benefit you in operating your Nu Skin distributorship. I urge you to get this software package to avoid “the tax nightmare”.
Note: – I am not a certified tax or financial advisor. I am only providing ideas. You should consult your own personal tax/financial advisor.