I came across this blog and while I've seen similar posts by Amway business owners, this one was interesting because of the detail and the passion the blog author has for the business (Even though the author of the blog has since quit Amway). In a nutshell, he lost money in Amway but calls it success because after he received his tax refund, he's now claiming to have a net profit. It's amazing what these Amway/WWDB leaders can get people to believe. It's like who are you going to believe? Me or your own eyes?
https://transparencyofadreamer.wordp...sing-in-amway/
Below are excerpts. The blog owner claims to have made a net gain due to a tax refund. He doesn't explain how he arrived at that refund but apparently his losses in Amway lowered his tax liability for whatever income tax was already withheld from either his paycheck (job) or from paying estimated taxes in advance for a business or some other venture. It's quite scary and illustrates how some people can hang on in Amway for so long even when suffering losses. The IBO's are programmed to "think" they actually made money!
Excerpt:
Based on what they have taught me, even though I barely had any increase in my overall organization (ie: I was pathetically lazy, didn’t put any work in and barely increased the size of organization – #sadface) I STILL DID NOT LOSE MONEY!
2013 total Cost Run Down:
Communikate: $443.40
Digital Delivery: $300.00
Premier Membership: $599.40
Major Functions: $595.00
Major Function Hotels: $750.00
Business Support Materials: $240.00
Total Business Cost: $2927.80
Lets bring it all together here, folks.
Total Amway Payout in 2013: $2112.36
Total Cost To Run Business: -$2927.80
= $-815.44
Just like I said last year – “Oh No! I’ve been scammed! I’ve lost money! My upline lied to me! I didn’t put in any work to sponsor anyone this last year and its everyone’s fault but mine! The business doesn’t work! What a total scam!!!”
Hold on now Mr. Negative – Due to running my own business in a country that incentivises business owners to run their own business I received tax benefits that entitled me to a refund for the 2013 year in the amount of $2409.76. Lets do this again, shall we?
Total Amway Payout in 2013: $2112.36
Total Cost To Run Business: -$2927.80
Total Tax Refund For 2013: $2409.76
= $1594.32
So, as I wrap up I hope I made my point very clear – you will not lose money running your own Amway Business powered by World Wide Dreambuilders…. IF you are diligent with your finances, if you don’t blow your budget your coach sets with you. You WILL lose money running your own Amway Business powered by ANY training system IF you don’t have a budget, if you don’t ask for help to set a budget, if you ignore your budget etc.
If your potential sponsor is affiliated with WWDB and is doing what they are taught, you should be educated on some of the numbers I shared above in regards to cost for access to your training and mentorship system.
The net income is -815.44 and he gets refunded $2409.76?
ReplyDeleteIf he filed what amounts to a net loss, the refund would some fraction of that. It can’t be more than the loss he filed, let alone 3 times more.
There is something wrong over and above the normal Away group misinterpreting what a tax refund is. He is either getting things mixed up, or there has been massive fraud where he reports many household expenses as “business”.