Taxes. Don't you just hate doing them? Or do you take yours to someone else to do? My mama taught me to do my own taxes from the time I first started making money and I've been doing them for my family ever since. I'm certainly thankful for tax programs like the one I use from H&R Block, because they make everything so much easier and assure that I don't have mistakes - or at least that there are less chances of any! So far we have been audit free, so I'll keep trusting in my software to get the job done. Speaking of which, time is getting short to get mine completed, so if I have a few less blog posts over the next three weeks, you can attribute it to the fact that I am hard at work on my taxes.
You may be wondering how an Avon business works with your taxes. Avon is responsible for reporting to the IRS when a "Payer made direct sales of $5,000 or more of consumer products to a buyer (recipient) for resale." That statement means that the representative has purchased at least that much in product value from Avon during the year, so Avon reports to the IRS based on the assumption that those purchases were resales to customers. Avon does not know how much the representative has made from those purchases, because they do not know what was for personal use or if the representative did special offers to customers, etc. It is up to the representative to keep records of their income and expenses and use a Schedule C to report business income. Avon also sends a Form 1099-MISC to representatives in Leadership who have earnings from their downline team sales.
Yes, finding time to do our taxes with a busy schedule can be frustrating, but we should all be thankful to be having to do the work, because it means we are making money. After all, no taxes means no money!! If you are ready to have a reason to fill out a Schedule C next year, contact me for more details on starting your own Avon business or just go here and start yourself today.