Archive for the ‘27’ Category
September 1st, 2010 | 
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Do I have to pay taxes on my MLM profits from recruiting?
I know that I have to pay income tax on my profits from product sold, but what about my profit from recruiting? Also, will I be paying both income, and self-employment tax?
You will be required to pay tax on the net from all income from this activity. You are subject to both income tax and Self Employment tax. The good news is that very few people ever make any money in an MLM so your tax won’t be so bad.
