UPDATES: January 12, 2021: Weekly Updates

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UPDATES: January 12, 2021: Weekly Updates

Blythe Klipple

WEEKLY UPDATES

12 January 2021

2021 DEMONSTRATOR COUNCIL OPPORTUNITY

Each of the Demonstrator Development Managers have a small group of demonstrators they collaborate with each year who provide feedback and help test out new ideas. The focus of this year’s Demonstrator Councils is to partner with Stampin’ Up! in helping demonstrators find new customers and team members.

We invite you to apply if you are:

  • A title of silver or above
  • Actively running your business
  • Comfortable using technology
  • Experienced in a few of the following areas:
    • Finding new customers who are beginner or casual crafters 
    • Finding new customers in a variety of age groups
    • Signing up new team members who are beginner or casual crafters
    • Working with customers who value the experience of crafting and gathering more than collecting new products
    • Using Stampin’ Up! kits (as designed) in your business
  • Flexible, positive, and think creatively
  • Willing to fulfill the council responsibilities which may include:
    • Attending monthly scheduled Demonstrator Council calls 
    • Completing assigned tasks outside of calls up to two hours a month
    • Helping to plan, shape, and execute test projects, communication, and training efforts
    • Serving on the council until the end of 2021

If you are interested in applying to be part of the council, click here to complete the survey! Please complete the survey by 19 January.


US FORM 1099 INFORMATION


Stampin’ Up! does not provide tax advice and recommends that demonstrators contact a knowledgeable advisor with any questions they may have in this regard. However, the company is providing the following information as a help to understand what is being reported on Form 1099.

Form 1099 is required to be issued to each demonstrator whose business is run as a sole proprietorship (taxed as an individual) or organized as a partnership or limited liability company that has not elected to be treated as a corporation for income tax purposes. Form 1099 is not issued to demonstrator businesses that are organized as corporations or limited liability companies that have elected to be treated as corporations for income tax purposes. More information about income taxes and demonstrator businesses can be found in the Income Tax section of the Demonstrator Handbook.

The IRS has made several changes to 2020 1099 forms, requiring that some demonstrators receive two separate forms, a 1099-NEC and a 1099-Misc. Prior to 2020 all tax information was provided only on form 1099-Misc. 

FORM 1099-NEC

This form replaces the previous form used, 1099-Misc. The amount shown in Box 1, Nonemployee compensation, reports the combination of cash paid and non-cash values awarded to demonstrators during the 2020 calendar year, but only if the combined total of these is $600.00 or more. Amounts earned during 2019, but paid or awarded in 2020, are included. Amounts earned during 2020, but paid or awarded in 2021 or a later year, are not included. The total includes amounts for team commissions, various types of bonuses, event related compensation, Flex Points redemptions, product credits earned, and incentive travel awards. Amounts of Instant Income and volume rebates are not included, as these are considered purchase price discounts, which reduce the cost of acquired products, rather than income. 

FORM 1099-MISC 

This form will be issued to demonstrators who have paid for customer and workshop orders during 2020 totaling $5,000 or more, net of Instant Income discounts and volume rebates. The small box inside Box 7 will be checked and all other boxes on the form will be blank. The $5,000 reporting requirement is the only information that will be provided on this form.


FULL WIDE STAMP CASES NO LONGER AVAILABLE

We have sold out of our remaining inventory of the Full Wide Stamp Cases (item 127551) from the 2020–2021 Annual Catalog and this item is no longer available for purchase.

OFFER COMFORT, CARE, AND CONDOLENCES

Sadly, there is heartache, hardship, and hopelessness in the world all around us. Sometimes, we feel it ourselves; other times, it’s felt by the people we love. In their trying times, send them sympathy and strength with the Bouquet of Hope Paper Pumpkin Kit.

This month’s kind-hearted kit includes patterned card bases, die-cut floral elements, eye-catching embellishments, and a versatile stamp set with supportive sentiments; with this set of supplies and more, subscribers can create nine comforting cards and coordinating envelopes! Plus, February’s kit aligns beautifully with our Flower & Field Designer Series Paper, which can be used to extend the heartfelt and handmade crafting experience offered by the components of the kit—and, it can be earned for free during Sale-A-Bration.

To learn more about the Bouquet of Hope Paper Pumpkin Kit, visit the promotion page. And, be sure to stop by our upgraded Marketing Toolkit packed with a variety of shareable images for your social media accounts, blogs, emails, and more!

CANADA FORM T4A INFORMATION

Stampin’ Up! does not provide tax advice and recommends that demonstrators contact a knowledgeable advisor with any questions they may have in this regard.  However, the company is providing the following information as a help to understand what is being reported on Form T4A.

Form T4A is required to be issued to each demonstrator whose business is run as a sole proprietorship (taxed as an individual) or organized as a partnership or corporation.  The form is only prepared when the combined total of all amounts reported is $500.00 or more.

More information about income taxes and demonstrator businesses can be found in the Income Tax section of the Demonstrator Handbook.

FORM T4A BOX 020 – SELF-EMPLOYED COMMISSIONS

The amount shown in Box 020 reports a combination of cash paid and some non-cash values given to demonstrators during the 2020 calendar year.  Amounts earned during 2019, but paid or given in 2020, are included.   Amounts earned during 2020, but paid or given in 2021 or a later year, are not included.  The total includes amounts for team commissions, various types of bonuses, event related compensation, and travel vouchers.  Amounts of Instant Income and volume rebates are not included in Box 020 as these are considered purchase price discounts, which reduce the cost of acquired products, rather than income.

FORM T4A BOX 154 – CASH AWARDS OR PRIZES

The amount shown in Box 154 reports a combination of cash and non-cash awards or prizes given to demonstrators during the 2020 calendar year.  Amounts earned during 2019, but paid or given in 2020, are included.   Amounts earned during 2020, but paid or given in 2021 or a later year, are not included.  The total includes the value of any incentive travel, Flex Point or Product Credit redemptions.

PREVIOUSLY ANNOUNCED

To review last week’s updates, click here.



THIS WEEK’S SUCCEED WEEKLY

If you missed it in your inbox, take a look at this week’s Succeed Weekly email here!

Blythe Klipple
Updates Coordinator
blythek@mac.com



Blythe Klipple, UPDATES/FAQ COORDINATOR