Hey everyone, looking for some advice or just a place to vent.
My dad recently joined MWR Travel Advantage (MWR Financial). He’s been enamored with the "travel club" perks, but now he’s trying to recruit me with a very specific pitch: he says if I change my W4 to decrease my tax withholdings and declare a "home business," the tax savings will "pay for the membership."
I know he thinks he’s helping me, but I don’t want to mess with the IRS based on MLM logic, and I certainly don’t want to join another "exclusive opportunity." Is his tax strategy legit?
My dad is on his 4th MLM (MWR Travel Advantage) and is now giving me sketchy tax advice.
byu/makattack4000 intax
Posted by makattack4000
2 Comments
Depending on what “home business” means, it can be legit in the sense of not breaking the law. That probably means taking a home office deduction on the MLM activity, which requires having part of your home used *exclusively* for the MLM activity. That said, the only way to save taxes by having a business is to lose money.
Definitely a vent-worthy situation.
Sure, if you have an actual bonafide home office and run a business out of it.
Otherwise, no.