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View Full Version : tax questions?
cynderalla
12-29-2005, 12:00 PM
Hi there,
I am new to WAHM. As a BeautiControl consultant, is the reporting
for income taxes complicated? I assume you'd keep all receipts
for purchases from clients, receipts for purchases through
Beauticontrol, and perhaps milage in travel? I was also told that
if you host from home, the snacks/drinks count too. Am I missing
anything else?
Cynthia
I am new to WAHM. As a BeautiControl consultant, is the reporting
for income taxes complicated? I assume you'd keep all receipts
for purchases from clients, receipts for purchases through
Beauticontrol, and perhaps milage in travel? I was also told that
if you host from home, the snacks/drinks count too. Am I missing
anything else?
Cynthia
beautigurl2
12-29-2005, 01:43 PM
This is something that I would also like info. on. BeautiControl doesnot send out anything for us to use in tax praparations- right? I keep my client receipts, product ordering receipts from BeautiControl, and also anything that I buy for my business, I save that receipt also-such as gift bags, wrapping paper, printer,...
Any suggestions are greatly appreciated.
Thanks!
beautigurl2
Any suggestions are greatly appreciated.
Thanks!
beautigurl2
tessh24
12-29-2005, 02:08 PM
Hi,
I have been told that we can write off any products that we open to use for demo at our spas, as well as anymoney paid outrelating to booths or business supplies. YOu need to keep track of your business miles. So, coming and going to spas, Beauty U, Celebration or Leadership conference.
I also heard you can write off your starter kit cost.
Keep good documentation and receipts to make it easier.
Here is a website that tells you what you can claim. It has helped me out a lot.
Good luck and Happy Taxing!
www.lascpa.com/record_keeping.html (http://www.lascpa.com/record_keeping.html)
I have been told that we can write off any products that we open to use for demo at our spas, as well as anymoney paid outrelating to booths or business supplies. YOu need to keep track of your business miles. So, coming and going to spas, Beauty U, Celebration or Leadership conference.
I also heard you can write off your starter kit cost.
Keep good documentation and receipts to make it easier.
Here is a website that tells you what you can claim. It has helped me out a lot.
Good luck and Happy Taxing!
www.lascpa.com/record_keeping.html (http://www.lascpa.com/record_keeping.html)
tessh24
12-29-2005, 02:11 PM
Sorry it is actually
www.lascpa.com/record_keeping_bc.htm (http://www.lascpa.com/record_keeping_bc.htm)
www.lascpa.com/record_keeping_bc.htm (http://www.lascpa.com/record_keeping_bc.htm)
dgritter
12-29-2005, 02:18 PM
Does this only count if you are idemizing when you claim? My husband and I aren't itemizing yet plus I am still in the red since starting and buying inventory so do I have to claim any income?
cynderalla
12-29-2005, 02:45 PM
Thanks for the website link. I plan to join as a BC consultant
starting 2006 so I need to be prepared to know what to expense should I
make profit. For now, it's going to be for personal use. I
can see the potential in making money as I host spas. With kids
in the picture, it's easier for me to host from my own home while
hubbie watches the kids in another room. smileys/smiley2.gif Saving receipts for snacks and drinks would help. I never thought about printer cost or the gift wrapping.
starting 2006 so I need to be prepared to know what to expense should I
make profit. For now, it's going to be for personal use. I
can see the potential in making money as I host spas. With kids
in the picture, it's easier for me to host from my own home while
hubbie watches the kids in another room. smileys/smiley2.gif Saving receipts for snacks and drinks would help. I never thought about printer cost or the gift wrapping.
tessh24
12-29-2005, 03:28 PM
Cynderella,
I have 4 daughters (2,4,9,10) and I LOVE this job. BeautiCOntrol is such a great oppurtunity for women and if you do things right and work hard you get rewarded in so many different ways. One of the best being that we touch the lives of women and what we have is great.
With 4 kids, I couldn't of asked for a better place to be in my career. If you need any help or advice you have found a great message board filled with kind consultants.
Good luck to you!
I have 4 daughters (2,4,9,10) and I LOVE this job. BeautiCOntrol is such a great oppurtunity for women and if you do things right and work hard you get rewarded in so many different ways. One of the best being that we touch the lives of women and what we have is great.
With 4 kids, I couldn't of asked for a better place to be in my career. If you need any help or advice you have found a great message board filled with kind consultants.
Good luck to you!
