This advice goes for all direct sales folks, be it Rodan & Fields, Scentsy, Mary Kay, Amway, Tupperware, anything really.
Many direct sales small business owners dive into their online support network for tax advice and rarely get anything useful. Rumors and “I think you can…” is never good advice when dealing with money so don’t use it on your taxes.
A search turned up the site Thriving Candle Business where they have a recent post about tax advice for Scentsy consultants. It can be summarized in one sentence:
“…seek professional advice.”
That is the best advice anyone could give when seeking help with their taxes. The article reproduces the Scentsy Income Tax Guide, provided to consultants by the company but it is in no way tax advice.
Mileage, giveaways, booth fees, maybe even internet and cell phone expenses may all be deductible. But you need to understand what’s allowed and how to do it right. Doing it wrong can cost you money now and even more down the road if the IRS comes calling.
You don’t need a CPA or accountant to prepare your taxes, you want a Tax Professional, registered and able to file in all 50 states. It helps when that tax preparer is not only a small business owner, but a customer of direct sales!
KMS Tax Prep knows what you need to do to meet your tax liabilities and can help you prepare for the successful year ahead, just reach out and our Pro will answer all your questions.