Thursday, January 18, 2007
Shhhhhh, do not tell the bureaucrats in Washington DC: Your business network of professional contacts is a valuable asset. Successful people who earn the big bucks all have contacts with people who can and do refer them business opportunities. If you tell the Congress they will look for ways and means to slap a tax on networking.
Think of it: The LinkedIn Tax. They find a way to bill you for knowing people who deliver opportunities that lead to more success. Meeting someone at a cocktail party could cost you on April 15th. Sending a handwritten follow up note? Watch out, Uncle Sam will want his piece of the possible long term value in building business friendships. And the over decades, a strong network and reputation could be worth millions of dollars.
For now you are safe, Nancy Pelosi has not added this new tax to the "First One Hundred Hours" agenda in the House of Representatives. So get out there and take advantage of building your network now, before they catch on.
Also, depending on the state where you reside, your legislature could discover the windfall from taxing this asset. Fortunately, Texas has no state income tax, so your relationships here are free.
Have A Great Day.