Tax question

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Tax question

Teri Bean
Does the discount we receive on our demo orders from Stampin Up count as income?  New accountant this year and my old accountant was a demonstrator so I need to know if I include that discount total in my income.
Thanks so much!
Teri Bean
Stampin' Under the Big Sky
Augusta MT
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RE: Tax question

Coleen Astalos
Administrator

No, the discount doesn't count as income (like the instant income from a regular customer order does). But if you're using those products in your business, then the amount that you would deduct as a business expense is the amount you pay SU! after the discount (not the full retail value).

Coleen

 

Coleen Astalos
Alamosa, CO, coleen@sudsol.com

See my jewelry for sale at www.flexibleaccessories.com

 

From: ml+s1100894n41233h68@.nabble [mailto:ml+s1100894n41233h68@.nabble]
Sent: Monday, March 12, 2018 7:27 PM
To: SUDSOL Group
Subject: SU!: Tax question

 

beaniebaby3616@yahoo.com?subject=Tax%20question

If you just reply to this email, your message will go to all SUDSOL members, unless you change the To: email address to the author: beaniebaby3616@yahoo.com


Does the discount we receive on our demo orders from Stampin Up count as income?  New accountant this year and my old accountant was a demonstrator so I need to know if I include that discount total in my income.
Thanks so much!

Teri Bean
Stampin' Under the Big Sky
Augusta MT

 


If you want the reply to go ONLY to Teri Bean, please change the email address to: beaniebaby3616@yahoo.com
This message can be found in the SUDSOL Discussion Forum here: http://forum.sudsol.org/Tax-question-tp41233.html

To start a new topic under Business Talk, email ml+s1100894n3h38@n7.nabble.com
To unsubscribe from Business Talk, click here.

Coleen Astalos
SLB Member


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Re: SU!: Tax question

Becky Godfrey

 Hello, 
What is the difference between instant income and deferred income as far as taxes are concerned? Thanks for your help.
Becky


On Mon, Mar 12, 2018 at 10:21 PM SUDSOL [Coleen Astalos] via Business Talk <ml%2Bs1100894n41238h26@n7.nabble.com> wrote:
coleen@sudsol.com?subject=RE:+Tax+question
If you just reply to this email, your message will go to all SUDSOL members, unless you change the To: email address to the author: coleen@sudsol.com


No, the discount doesn't count as income (like the instant income from a regular customer order does). But if you're using those products in your business, then the amount that you would deduct as a business expense is the amount you pay SU! after the discount (not the full retail value).

Coleen

 

Coleen Astalos
Alamosa, CO, coleen@sudsol.com

See my jewelry for sale at www.flexibleaccessories.com

 

From: ml+s1100894n41233h68@.nabble [mailto:ml+s1100894n41233h68@.nabble]
Sent: Monday, March 12, 2018 7:27 PM
To: SUDSOL Group
Subject: SU!: Tax question

 

If you just reply to this email, your message will go to all SUDSOL members, unless you change the To: email address to the author: beaniebaby3616@yahoo.com


Does the discount we receive on our demo orders from Stampin Up count as income?  New accountant this year and my old accountant was a demonstrator so I need to know if I include that discount total in my income.
Thanks so much!

Teri Bean
Stampin' Under the Big Sky
Augusta MT

 


If you want the reply to go ONLY to Teri Bean, please change the email address to: beaniebaby3616@yahoo.com
This message can be found in the SUDSOL Discussion Forum here: http://forum.sudsol.org/Tax-question-tp41233.html

To start a new topic under Business Talk, email ml%2Bs1100894n3h38@n7.nabble.com

To unsubscribe from Business Talk, click here.

Coleen Astalos
SLB Member




If you want the reply to go ONLY to Coleen Astalos, please change the email address to: coleen@sudsol.com
This message can be found in the SUDSOL Discussion Forum here: http://forum.sudsol.org/Tax-question-tp41233p41238.html
To start a new topic under Business Talk, email ml%2Bs1100894n3h41@n7.nabble.com
To unsubscribe from Business Talk, click here.
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RE: SU!: Tax question

Coleen Astalos
Administrator

Nothing.  They're both income and should be reported.

Coleen

 

Coleen Astalos
Alamosa, CO, coleen@sudsol.com

See my jewelry for sale at www.flexibleaccessories.com

 

From: ml+s1100894n41286h11@.nabble [mailto:ml+s1100894n41286h11@.nabble]
Sent: Thursday, March 15, 2018 9:08 PM
To: SUDSOL Group
Subject: Re: SU!: Tax question

 

rademacherb0@gmail.com?subject=Re:%20SU!:%20Tax%20question

If you just reply to this email, your message will go to all SUDSOL members, unless you change the To: email address to the author: rademacherb0@gmail.com


 

Hello,

What is the difference between instant income and deferred income as far as taxes are concerned? Thanks for your help.

Becky

 

 

On Mon, Mar 12, 2018 at 10:21 PM SUDSOL [Coleen Astalos] via Business Talk <ml%2Bs1100894n41238h26@n7.nabble.com> wrote:

coleen@sudsol.com?subject=RE:+Tax+question

If you just reply to this email, your message will go to all SUDSOL members, unless you change the To: email address to the author: coleen@sudsol.com


 

No, the discount doesn't count as income (like the instant income from a regular customer order does). But if you're using those products in your business, then the amount that you would deduct as a business expense is the amount you pay SU! after the discount (not the full retail value).

Coleen

Coleen Astalos
Alamosa, CO, coleen@sudsol.com

See my jewelry for sale at www.flexibleaccessories.com

From: ml+s1100894n41233h68@.nabble [ml+s1100894n41233h68@.nabble]
Sent: Monday, March 12, 2018 7:27 PM
To: SUDSOL Group
Subject: SU!: Tax question

If you just reply to this email, your message will go to all SUDSOL members, unless you change the To: email address to the author: beaniebaby3616@yahoo.com


Does the discount we receive on our demo orders from Stampin Up count as income? New accountant this year and my old accountant was a demonstrator so I need to know if I include that discount total in my income.
Thanks so much!

Teri Bean
Stampin' Under the Big Sky
Augusta MT


If you want the reply to go ONLY to Teri Bean, please change the email address to: beaniebaby3616@yahoo.com
This message can be found in the SUDSOL Discussion Forum here: http://forum.sudsol.org/Tax-question-tp41233.html

To start a new topic under Business Talk, email ml%2Bs1100894n3h38@n7.nabble.com

To unsubscribe from Business Talk, click here.

Coleen Astalos
SLB Member

 


If you want the reply to go ONLY to Coleen Astalos, please change the email address to: coleen@sudsol.com
This message can be found in the SUDSOL Discussion Forum here: http://forum.sudsol.org/Tax-question-tp41233p41238.html

To start a new topic under Business Talk, email ml%2Bs1100894n3h41@n7.nabble.com
To unsubscribe from Business Talk, click here.

 


If you want the reply to go ONLY to Becky Godfrey, please change the email address to: rademacherb0@gmail.com
This message can be found in the SUDSOL Discussion Forum here: http://forum.sudsol.org/Tax-question-tp41233p41286.html

To start a new topic under Business Talk, email ml+s1100894n3h38@n7.nabble.com
To unsubscribe from Business Talk, click here.

Coleen Astalos
SLB Member