• Join Chef Success Today! Get support for your Pampered Chef business today! Increase your sales right now! Download 1000s of files and images, view thousands of Pampered Chef support threads! Totally Free!

Taxes - Expenses Already Removed From 1099?

In summary, when an expense is already removed from a 1099, it means that the amount for that particular expense has already been deducted from the income reported on the form. This could be because the expense is not valid or has already been deducted by the payer. However, even if the expense is removed, you still need to report it on your tax return as part of your overall income. You cannot deduct expenses that have already been removed from a 1099, but if you have any questions about the removal, you should contact the payer for clarification.
kam
Staff member
3,659
Sorry, I don't have many shows - so I am not very organized this year...and I can't remember:

For taxes, let's say my 1099 says $500 income, have the insurance amounts we are charged and the shipping costs of the changeover kits already deducted from the amount?

Thanks!
 
I would also like to know!! I just took my taxes out to a tax guy to have them done, I am paying about $100-$115 or so to have them done. I am just afraid I would mess it up or something! ;)I have took him my information from my part time job, my Pampered Chef stuff, and my college stuff. I also handed him a list of expenses and receipts... but I DID NOT add my shipping costs that were deducted from my paychecks from PC along with insurance deductions.
 
No, expenses are NOT removed from the 1099. So, remember to take a deduction for the shipping for changeover kits and insurance.Also, "other income," which is all those "free" products we get throughout the year, is taxed at a different rate than actual income from commissions.
 
Nancy's correct - the insurance isn't already deducted.
 


Hi there! No need to apologize for not having many shows this year, it happens to all of us. As for your question about taxes, the 1099 should already have the insurance and shipping costs deducted from the income amount. However, it's always a good idea to double check with your accountant or tax professional to make sure everything is accurate. Happy cooking!
 

What does it mean when an expense is already removed from a 1099?

When an expense is already removed from a 1099, it means that the amount for that particular expense has already been deducted from the income reported on the 1099 form. This is usually done by the payer to lower their taxable income.

Why would an expense be removed from a 1099?

An expense may be removed from a 1099 for a few reasons. One reason could be that the expense is not considered a valid business expense and therefore cannot be deducted from the income. Another reason could be that the payer has already deducted the expense on their own tax return.

Do I need to report expenses that have already been removed from a 1099?

Yes, you still need to report the expenses that have already been removed from a 1099 on your tax return. This is because the income reported on the 1099 form is still part of your overall income and needs to be accounted for when filing your taxes.

Can I deduct expenses that have already been removed from a 1099?

No, you cannot deduct expenses that have already been removed from a 1099. This is because the payer has already deducted the expense from their taxable income, so it cannot be deducted again on your tax return.

What should I do if I have a question about an expense that has been removed from a 1099?

If you have a question about an expense that has been removed from a 1099, you should contact the payer for clarification. They will be able to provide more information about why the expense was removed and if it is still eligible for deduction on your tax return.

Similar Pampered Chef Threads

  • E R
  • Pampered Chef Finances
Replies
4
Views
5K
ShellBeach
  • NewtoMom
  • Pampered Chef Finances
Replies
2
Views
1K
Admin Greg
  • chefsteph07
  • Pampered Chef Finances
Replies
4
Views
1K
AnaCash
  • babywings76
  • Pampered Chef Finances
Replies
9
Views
4K
martyskitchen
Replies
6
Views
1K
chefann
  • rennea
  • Pampered Chef Finances
Replies
8
Views
2K
reba515
  • jesusluvsu2005
  • Pampered Chef Finances
Replies
6
Views
2K
lkprescott
  • ahammons
  • Pampered Chef Finances
Replies
9
Views
4K
RebelChef
  • esavvymom
  • Pampered Chef Finances
Replies
4
Views
7K
AnaCash
  • chefmoseley
  • Pampered Chef Finances
Replies
2
Views
16K
gailz2
Back
Top