by Maggie McKee
I’m certainly not an accountant but I am Scottish (and Irish)! I discovered the hard way that being an employee with no tax advantages sucks!! For the first 25 years of my teaching career I paid the full income tax bill! My wasbund (I’m sure you can figure that word out) was able to claim the kids on his tax return when they were younger because his income was higher than mine, but I had no write-offs. So, as my annual salary crept up, so did my taxes.
I knew that a home-based business was a legitimate way to keep more of my hard-earned money but I’m not the kind of person who can do something just to do it. I have to be passionate and committed to whatever I engage in. Most businesses, even home-based ones, used the traditional boss-employee model and that scared me silly – the huge investment of time and money with little hope of profit for at least the first 5 years (if at all); the enormous span of skills required from research and development – to manufacturing – to delivery – to invoicing – to GST and PST; plus, the overhead costs of brick and mortar, employee benefits, etc., just to name a few. The mere thought of hiring and firing sent me screaming out of the room. I had heard that one employee is a headache and more than one means you are running an adult day care centre! That’s not my bailiwick.
Plus, I didn’t have any great inventions that I wanted to share with the world, such as a revolutionary solution for removing gum from clothes and hair and movie theatre seats.
So, my desire to find an appropriate business was sat forlornly to the bottom of the list. Besides, I had so much on my plate at that time that I didn’t even have room to say ‘grace’. I was teaching full-time at the post-secondary level. I was the mother of two. I was a full-time post grad student in a different province and very involved in community affairs. In addition, the only entrepreneurial experience I had ever had was growing up on a farm and selling wool to pay for my music lessons. I guess you could say I was more of an entre-manure!!
What’s a girl to do?
Fortunately, the energy of my desire traveled out into the universe and the answer came to me years later through my best friend. She called me one day to tell me she had found the answer to my plea for a solution to a chronic health challenge I had been dealing with for over 30 years. So, I listened. I loved what I discovered for my health, and the fact that the solution came with the option of a home business was even better. Interestingly, I received exponentially more than I had asked for years earlier.
Imagine how overjoyed I was when Revenue Canada rewarded me with a huge tax return that covered the cost of launching and running my business! I was now in the 10% tax bracket, rather than the 30+% I had become resentful of. Even better, I was able to build my business in the tiny cracks of time that I had, and to make a difference in people’s lives. That is something I can get passionate about!!! And, within 3 years I was earning more than I had ever earned or ever could earn as a teacher!
That was over 16 years ago and I still am grateful to have discovered network marketing as a solution to my initial desire to save on my taxes – and the health benefits continue to amaze me.