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  #163  
Old 03-06-2012, 11:32 AM
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ChrisDoyle ChrisDoyle is offline
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Re: Are MLMer's "Business" Owners?

Quote:
Originally Posted by ChrisN View Post
No you can not. Your distributorship and relationship with the MLM is owned by you as the individual.

Lets say I enter into a contract as an individual with company A. Then I incorporate myself. My new company has no rights to the contract with Company A. Company A has no obligation to newly incorproated company.

I don't see how your can not understand this.

In an MLM - the checks do not go to your company, they go to you personally. your company is not responsible for taxes - you are personally. The MLM has no obligation whatsoever to your company. Your company has no right to sell the MLMs products - only you do as an individual . Any sales made go through you personally.

How do you not understand this?

Lets say you hire someone, and they call the MLM- the MLM will have no knowledge of the person. They can not help the person.

It is not a company.

What beats me is that I've posted this link 2 or 3 times and you still haven't bothered to read it.
Its a discussion between MLM distributors, at least 2 who are also accountants, who state quite clearly that you can incorporate your MLM distributorship into a limited company. I also know a handful of people who have actually done this, and are still doing it. They also have people in their downlines who have incorporated their distributorship.
What part of the discussion dont you understand?
The link again.
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The musings of joecool44:
Quote:
Originally Posted by Joecool44
Thise links basically had comments that looks like it waas written by Amway IBO's.
About 10 minutes later:
Quote:
Originally Posted by Joecool44
Learn to read you fvcking moron. I never claimed those pages were from IBO's.
And he admits to changing people's posts!
Quote:
By the way, I only change links when people make personal (unsubstantiated) attacks on me. I find it works quite effectively when I employ that tactic.


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  #164  
Old 03-06-2012, 11:48 AM
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ChrisN ChrisN is offline
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Re: Are MLMer's "Business" Owners?

Quote:
Originally Posted by ohein56 View Post
Sorry, you make NO SENSE...

Much ado about NOTHING.
More clucking from mother hen... anyone else notice that there is never anything directly related to the topic at hand?


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  #165  
Old 03-06-2012, 11:50 AM
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ChrisN ChrisN is offline
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Re: Are MLMer's "Business" Owners?

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Originally Posted by ChrisDoyle View Post
What beats me is that I've posted this link 2 or 3 times and you still haven't bothered to read it.
Its a discussion between MLM distributors, at least 2 who are also accountants, who state quite clearly that you can incorporate your MLM distributorship into a limited company. I also know a handful of people who have actually done this, and are still doing it. They also have people in their downlines who have incorporated their distributorship.
What part of the discussion dont you understand?
The link again.
And does the newly incorproated company have any legal relationship with the MLM?

NO!

Does any comissions, bonuses, or other earnings from the MLM go to the company?

NO!

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  #166  
Old 03-06-2012, 11:58 AM
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ChrisDoyle ChrisDoyle is offline
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Re: Are MLMer's "Business" Owners?

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Originally Posted by ChrisN View Post
And does the newly incorproated company have any legal relationship with the MLM?

NO!

Does any comissions, bonuses, or other earnings from the MLM go to the company?

NO!
Of course the bonuses go to the company, they go into the company bank account. Anyone who has a limited company is known as the company director, an employee of that limited company. The limited company pays that director a salary, usually just below the top rate of tax, so that the director is only paying at the lower rate. Any money left above this, is paid out as dividends, which are taxed at the lower Corporation Tax rate, currently 21% I believe. More than one person can hold shares in this limited company, often the partner/spouse is a co director or company secretary and will likewise be paid a salary and dividends.
This is a potted description of how a limited company works here in the UK. Further info can be had from Her Majesty's Revenue Service.
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The musings of joecool44:
Quote:
Originally Posted by Joecool44
Thise links basically had comments that looks like it waas written by Amway IBO's.
About 10 minutes later:
Quote:
Originally Posted by Joecool44
Learn to read you fvcking moron. I never claimed those pages were from IBO's.
And he admits to changing people's posts!
Quote:
By the way, I only change links when people make personal (unsubstantiated) attacks on me. I find it works quite effectively when I employ that tactic.



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  #167  
Old 03-06-2012, 12:04 PM
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ChrisDoyle ChrisDoyle is offline
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Re: Are MLMer's "Business" Owners?

This link and

this link, will explain how a limited company works.
__________________
The musings of joecool44:
Quote:
Originally Posted by Joecool44
Thise links basically had comments that looks like it waas written by Amway IBO's.
About 10 minutes later:
Quote:
Originally Posted by Joecool44
Learn to read you fvcking moron. I never claimed those pages were from IBO's.
And he admits to changing people's posts!
Quote:
By the way, I only change links when people make personal (unsubstantiated) attacks on me. I find it works quite effectively when I employ that tactic.

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  #168  
Old 03-06-2012, 01:38 PM
Once Upon a Time Once Upon a Time is offline
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Re: Are MLMer's "Business" Owners?

Quote:
Originally Posted by ChrisDoyle View Post
Yes distributors are allowed to incorporate (called a private limited company) and yes, private limited companies are allowed to sell shares to others, but only privately because they're not on the stock exchange like public limited companies are.
I've answered that question more than once, but no doubt O.U.T. is somehow trying to catch me out.
You have been asked a direct and specific question. But you have refused to answer the question and tried to misdirect it multiple times

Is it because a direct answer in either direction would be harmful to you?

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  #169  
Old 03-06-2012, 01:49 PM
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ChrisDoyle ChrisDoyle is offline
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Re: Are MLMer's "Business" Owners?

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Originally Posted by Once Upon a Time View Post
You have been asked a direct and specific question. But you have refused to answer the question and tried to misdirect it multiple times

Is it because a direct answer in either direction would be harmful to you?
LOL, even your fellow anti MLMrs on here dont know what the hell you're on about. Until you plainly state what you want to know, I'm finished with you.
__________________
The musings of joecool44:
Quote:
Originally Posted by Joecool44
Thise links basically had comments that looks like it waas written by Amway IBO's.
About 10 minutes later:
Quote:
Originally Posted by Joecool44
Learn to read you fvcking moron. I never claimed those pages were from IBO's.
And he admits to changing people's posts!
Quote:
By the way, I only change links when people make personal (unsubstantiated) attacks on me. I find it works quite effectively when I employ that tactic.

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  #170  
Old 03-06-2012, 01:53 PM
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ChrisN ChrisN is offline
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Re: Are MLMer's "Business" Owners?

Quote:
Originally Posted by ChrisDoyle View Post
Of course the bonuses go to the company, they go into the company bank account. Anyone who has a limited company is known as the company director, an employee of that limited company. The limited company pays that director a salary, usually just below the top rate of tax, so that the director is only paying at the lower rate. Any money left above this, is paid out as dividends, which are taxed at the lower Corporation Tax rate, currently 21% I believe. More than one person can hold shares in this limited company, often the partner/spouse is a co director or company secretary and will likewise be paid a salary and dividends.
This is a potted description of how a limited company works here in the UK. Further info can be had from Her Majesty's Revenue Service.
Chris,

I can't comment on the UK - but for here in the US,

1) You can't take a check made out to you persoanlly from the MLM and make it company assets. You personally are liable for the taxes on that money. Look at it this way - do you think the fry cook from mcdonalds can take his pay, and put it intor a corporation? The MLM is required by law to report your income and you as an mlmer are required to pay taxes on that income regardless of where you deposity the check.

2) In the US - dividends are paid post corporate income tax - so its double taxation - you actually pay MORE when its a dividend. (the company pays income tax on it - THEN you pay income tax on it).

I will say this for the umpteenth time. If a company pays YOU as an indpendant contractor - you can't just deposit the money in a company an pretend like YOU never got it. This would all work - if you signed a contract with the MLM as a business - then they would pay your business - but MLMs don't let you do that, because....

YOU ARE NOT A BUISNESS.

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  #171  
Old 03-06-2012, 02:07 PM
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ChrisDoyle ChrisDoyle is offline
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Re: Are MLMer's "Business" Owners?

Quote:
Originally Posted by ChrisN View Post
Chris,

I can't comment on the UK - but for here in the US,
Its the same in the US, I believe you call it LLC and I've seen MLM distributors with the name of their company followed by LLC.

Quote:
1) You can't take a check made out to you persoanlly from the MLM and make it company assets.
You would inform the MLM that you are now a limited company with the company name of XYZ Ltd. The MLM company would then pay your bonuses into your limited company bank account.


Quote:
You personally are liable for the taxes on that money.
I explained this above. You are now a director/employee of your limited company, you will pay tax at source on your salary and also tax on your dividends.

Quote:
Look at it this way - do you think the fry cook from mcdonalds can take his pay, and put it intor a corporation?
Don't be silly, the fry cook is an employee of mcdonalds, limited companies are for self employed people. MLM distributors are self employed. Anyone who is self employed can start a limited company.


Quote:
The MLM is required by law to report your income and you as an mlmer are required to pay taxes on that income regardless of where you deposity the check.
Agreed. I've never said otherwise.

Quote:
2) In the US - dividends are paid post corporate income tax - so its double taxation - you actually pay MORE when its a dividend. (the company pays income tax on it - THEN you pay income tax on it).
In the UK, a limited company is a great way of paying less tax, as shown in one of my links above. Do you bother reading my links? Doesn't seem like it.

Quote:
I will say this for the umpteenth time. If a company pays YOU as an indpendant contractor - you can't just deposit the money in a company an pretend like YOU never got it. This would all work - if you signed a contract with the MLM as a business - then they would pay your business - but MLMs don't let you do that, because....

YOU ARE NOT A BUISNESS.
I will say it again, as a director of a limited company you would not be ''depositing the money and pretending you never got it''. The MLM company would pay your bonus cheque in the name of your limited company; it would be deposited in to your limited company bank account, then your salary and dividends would be paid from it (after tax has been taken off and sent to the tax man.)

I should have been an accountant, I could have charged you 50 quid an hour for all this advice!
__________________
The musings of joecool44:
Quote:
Originally Posted by Joecool44
Thise links basically had comments that looks like it waas written by Amway IBO's.
About 10 minutes later:
Quote:
Originally Posted by Joecool44
Learn to read you fvcking moron. I never claimed those pages were from IBO's.
And he admits to changing people's posts!
Quote:
By the way, I only change links when people make personal (unsubstantiated) attacks on me. I find it works quite effectively when I employ that tactic.

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  #172  
Old 03-06-2012, 02:24 PM
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ChrisN ChrisN is offline
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Re: Are MLMer's "Business" Owners?

Quote:
Originally Posted by ChrisDoyle View Post
You would inform the MLM that you are now a limited company with the company name of XYZ Ltd. The MLM company would then pay your bonuses into your limited company bank account.
Umm you can't do that. The MLM has a contract with you as an individual. They can not pay someone else for your work. The only way to do this is to sign a contract between the MLM and your business, but as we all know - Distributors are indpendant contractors not businesses.

Its like saying you want your check made out to your childs name so you can avoid income taxes. YOU CAN'T JUST GIVE THEM A NAME TO PAY.

Quote:
Originally Posted by ChrisDoyle View Post
Anyone who is self employed can start a limited company.
No one is saying they can't but an independant contractor can't just tell the MLM to pay someone else to avoid taxes. The company MUST legally pay the person they have a contract with.

If the money is being paid to another business, then it is NOT an independant contract....It is a business to business relationship which is totally different and has different rules.

How is this so hard?

When you sign your name on the contract as an independant contract- it is NOT a business to business relationship - you can't just tell them to send your check to someone (or a company) else.

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  #173  
Old 03-06-2012, 02:31 PM
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ChrisDoyle ChrisDoyle is offline
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Re: Are MLMer's "Business" Owners?

Quote:
Originally Posted by ChrisN View Post
Umm you can't do that. The MLM has a contract with you as an individual. They can not pay someone else for your work. The only way to do this is to sign a contract between the MLM and your business, but as we all know - Distributors are indpendant contractors not businesses.

Its like saying you want your check made out to your childs name so you can avoid income taxes. YOU CAN'T JUST GIVE THEM A NAME TO PAY.
I'm sorry but they are doing it already to limited companies, as we speak. Did you bother reading this link?
I'll keep posting it over and over again; if you cant be bothered to read it, others will.



Quote:
No one is saying they can't but an independant contractor can't just tell the company to pay someone else to avoid taxes. The company MUST legally pay the person they have a contract with.
The MLM company will have the contract with the limited company, with you as a director of it.

Quote:
If the money is being paid to another business, then it is NOT an independant contract....It is a business to business relationship which is totally different and has different rules.
Do yourself a favour and go read the link above, you're beginning to sound a bit sad and pathetic now.

Quote:
How is this so hard?
Its not for me....go read the link.

Quote:
When you sign your name on the contract as an independant contract- it is NOT a business to business relationship - you can't just tell them to send your check to someone (or a company) else.
Did I mention.....READ THE LINK
__________________
The musings of joecool44:
Quote:
Originally Posted by Joecool44
Thise links basically had comments that looks like it waas written by Amway IBO's.
About 10 minutes later:
Quote:
Originally Posted by Joecool44
Learn to read you fvcking moron. I never claimed those pages were from IBO's.
And he admits to changing people's posts!
Quote:
By the way, I only change links when people make personal (unsubstantiated) attacks on me. I find it works quite effectively when I employ that tactic.

Reply With Quote

  #174  
Old 03-06-2012, 02:38 PM
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ChrisN ChrisN is offline
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Re: Are MLMer's "Business" Owners?

Quote:
Originally Posted by ChrisDoyle View Post
I'm sorry but they are doing it already to limited companies, as we speak. Did you bother reading this link?
I'll keep posting it over and over again; if you cant be bothered to read it, others will.
Your quoting a random post on a board like this one as proof?

Could you find a less reliable source?



Quote:
Originally Posted by ChrisDoyle View Post
The MLM company will have the contract with the limited company, with you as a director of it.
And yet most MLMs require you to be an independant contractor. I am sure their are exceptions - but go look for any member agreement for an MLM - bet it says independant contractor.

For example here is ACN's IBO agreement... please feel free to show me where to sign up as a company:
https://myacn2.acninc.com/OnLineRepA...al.jsp?lang=EN

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  #175  
Old 03-06-2012, 02:49 PM
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ChrisDoyle ChrisDoyle is offline
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Re: Are MLMer's "Business" Owners?

Quote:
Originally Posted by ChrisN View Post
Your quoting a random post on a board like this one as proof?

Could you find a less reliable source?

Accountants and a distributor who actually is using a limited company is not a reliable source????

What makes you, an anonymous forum poster, a reliable source?
__________________
The musings of joecool44:
Quote:
Originally Posted by Joecool44
Thise links basically had comments that looks like it waas written by Amway IBO's.
About 10 minutes later:
Quote:
Originally Posted by Joecool44
Learn to read you fvcking moron. I never claimed those pages were from IBO's.
And he admits to changing people's posts!
Quote:
By the way, I only change links when people make personal (unsubstantiated) attacks on me. I find it works quite effectively when I employ that tactic.

Reply With Quote

  #176  
Old 03-06-2012, 03:26 PM
Once Upon a Time Once Upon a Time is offline
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Re: Are MLMer's "Business" Owners?

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Originally Posted by ChrisDoyle View Post
LOL, even your fellow anti MLMrs on here dont know what the hell you're on about. Until you plainly state what you want to know, I'm finished with you.
I guess that if you cannot answer a direct and specific question, that has been clearly delineated at least three times, about Wikaniko, your experience with them, and potential corporate structure. That you had previously pretended was a possibility, then both you and the MLM(s) you represent and have represented(such as Vitamark, Send Out Cards, etc.) are plainly scammers whose sole interest is to sucker new victims into your MLM scams.

The question has been plainly stated multiple times. You have plainly stated multiple times that you don't understand it. Either you don't understand the language, you don't understand the business you are trying to sell, or you are blatantly lying in a continued attempt to pull the wool over the eyes of the uneducated.

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  #177  
Old 03-06-2012, 03:34 PM
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ChrisDoyle ChrisDoyle is offline
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Re: Are MLMer's "Business" Owners?

Quote:
Originally Posted by Once Upon a Time View Post
I guess that if you cannot answer a direct and specific question, that has been clearly delineated at least three times, about Wikaniko, your experience with them, and potential corporate structure. That you had previously pretended was a possibility, then both you and the MLM(s) you represent and have represented(such as Vitamark, Send Out Cards, etc.) are plainly scammers whose sole interest is to sucker new victims into your MLM scams.

The question has been plainly stated multiple times. You have plainly stated multiple times that you don't understand it. Either you don't understand the language, you don't understand the business you are trying to sell, or you are blatantly lying in a continued attempt to pull the wool over the eyes of the uneducated.

Read back...your fellow anti MLM'rs dont understand what you're asking either.
Suggestion....ask again, in plain English.
__________________
The musings of joecool44:
Quote:
Originally Posted by Joecool44
Thise links basically had comments that looks like it waas written by Amway IBO's.
About 10 minutes later:
Quote:
Originally Posted by Joecool44
Learn to read you fvcking moron. I never claimed those pages were from IBO's.
And he admits to changing people's posts!
Quote:
By the way, I only change links when people make personal (unsubstantiated) attacks on me. I find it works quite effectively when I employ that tactic.

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  #178  
Old 03-06-2012, 04:16 PM
Once Upon a Time Once Upon a Time is offline
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Re: Are MLMer's "Business" Owners?

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Originally Posted by ChrisDoyle View Post
Read back...your fellow anti MLM'rs dont understand what you're asking either.
Suggestion....ask again, in plain English.
Others here understand it perfectly. They also understand that your dodges and misdirections in not answering the question show that you have no problem lying to defend your MLM scamming operations when they involve Wikaniko, Vitamark, Send Out Cards, or any of the other MLM scams that you participate in.

The question is available, most recently from me, at this post in this thread at the scam.com MLM forum.

http://scam.com/showpost.php?p=1146390&postcount=142

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  #179  
Old 03-06-2012, 04:20 PM
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ChrisDoyle ChrisDoyle is offline
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Re: Are MLMer's "Business" Owners?

Quote:
Originally Posted by Once Upon a Time View Post
Others here understand it perfectly. They also understand that your dodges and misdirections in not answering the question show that you have no problem lying to defend your MLM scamming operations when they involve Wikaniko, Vitamark, Send Out Cards, or any of the other MLM scams that you participate in.

The question is available, most recently from me, at this post in this thread at the scam.com MLM forum.

http://scam.com/showpost.php?p=1146390&postcount=142
And I've answered that already, so here goes again.
Yes you can incorporate with that company as a private limited company. Can you sell shares in that private limited company? Yes you can, but only privately, not publicly on the stock exchange.
__________________
The musings of joecool44:
Quote:
Originally Posted by Joecool44
Thise links basically had comments that looks like it waas written by Amway IBO's.
About 10 minutes later:
Quote:
Originally Posted by Joecool44
Learn to read you fvcking moron. I never claimed those pages were from IBO's.
And he admits to changing people's posts!
Quote:
By the way, I only change links when people make personal (unsubstantiated) attacks on me. I find it works quite effectively when I employ that tactic.

Reply With Quote

  #180  
Old 03-06-2012, 04:34 PM
Once Upon a Time Once Upon a Time is offline
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Re: Are MLMer's "Business" Owners?

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Originally Posted by ChrisDoyle View Post
And I've answered that already, so here goes again.
Yes you can incorporate with that company as a private limited company. Can you sell shares in that private limited company? Yes you can, but only privately, not publicly on the stock exchange.
That is not a direct and specific answer. Answer the direct question as it applies to Wikaniko.

As asked.


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