Insurance Deductions for Taxes: Understanding the Amounts

[pamperedape]

For tax purposes, how much is deducted for insurance? I have so many numbers in my head that I'm not sure....

 

[BethCooks4U]

$2 per month. You can find it on your month end commission statements on CC.

 

[pamperedape]

Thanks so much Beth!!!!

 

[Grandmarita]

See the thread about our 1099's. I just discovered that the figure PC gives us on our 1099, for each individual month, already has subtracted the Insurance and the Shipping fees they took from our Gross. In other words, the 1099's that I have received are NET figures rather than the GROSS figures you would expect them to be. Maybe they have some Accounting Rule that allows them to do that but it surprised me. I have placed a call to clarify, and correct my 1099, if this should not be happening. I looked back to my 2007 figures, and low and behold, they did the same last year.

Can anyone check their 1099, and see if it has happened to you too. Just compare your monthly commission statement with a few of the monthly totals shown on the 1099.
They could be off by $10 in January when they took two insurance payments and $6.00 for shipping of the changeover kits.

 

[Jennie4PC]

See the thread about our 1099's. I just discovered that the figure PC gives us on our 1099, for each individual month, already has subtracted the Insurance and the Shipping fees they took from our Gross. In other words, the 1099's that I have received are NET figures rather than the GROSS figures you would expect them to be. Maybe they have some Accounting Rule that allows them to do that but it surprised me. I have placed a call to clarify, and correct my 1099, if this should not be happening. I looked back to my 2007 figures, and low and behold, they did the same last year.

Can anyone check their 1099, and see if it has happened to you too. Just compare your monthly commission statement with a few of the monthly totals shown on the 1099.
They could be off by $10 in January when they took two insurance payments and $6.00 for shipping of the changeover kits.

Mine just shows what I brought home after insurance and shipping charges were taken out.

 

[DebbieJ]

See the thread about our 1099's. I just discovered that the figure PC gives us on our 1099, for each individual month, already has subtracted the Insurance and the Shipping fees they took from our Gross. In other words, the 1099's that I have received are NET figures rather than the GROSS figures you would expect them to be. Maybe they have some Accounting Rule that allows them to do that but it surprised me. I have placed a call to clarify, and correct my 1099, if this should not be happening. I looked back to my 2007 figures, and low and behold, they did the same last year.

Can anyone check their 1099, and see if it has happened to you too. Just compare your monthly commission statement with a few of the monthly totals shown on the 1099.
They could be off by $10 in January when they took two insurance payments and $6.00 for shipping of the changeover kits.

yes, Rita, they do this every year.