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This MLM purports to help you make and save money by saving you big bucks on your own personal tax return. They claim that, by joining their business, you become a self-employed person entitled to all sorts of tax benefits. Their website contains glowing testimonials about how much money people are making and saving through the "business," and includes endorsements from some surprising people.
Here is what a knowledgeable CPA had to say about their claims:
"As a CPA I am not particularly impressed and would not recommend getting involved.
"What this organization is selling is basically some education in the tax laws. They suggest that the information they provide is not common knowledge. I would have a tendency to disagree. There are a lot of us "CPAs" that specialize in tax as do I. I have yet to read or hear of any special tax saving methods that frequently come across my desk in the form of advertisements for newsletters or seminars. Each year I attend numerous tax seminars and do a fair amount of reading to stay up with the tax laws. I am sufficiently familiar with home office deductions/retirement arrangements/other tax saving opsportunities, to properly advise clients.
"The primary thing that taxpayers need to do is seek advice and take time to become somewhat educated in the tax laws that apply to their personal circumstances. For instance, you should personally have a reasonable understanding of the home office deduction and how it effects you if you have a home office. Your neighbor who does not have a home office probably does not need that information. If you make $200,000 a year you probably should be spending an hour or two talking to your CPA each year to discuss tax strategies. If you make $40,000 a year, there are limited potential tax strategies and tax savings. It is good to be educated in the tax laws and you can accomplish that by spending time talking to your CPA or by subscribing to various tax advisory letters. I get the Kiplinger Tax letter each week. Frequently free seminars are offered by investment brokers."
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