Insurance Is $2.00 per Month We Pay

[jrstephens]

Insurance is $2.00 per month we pay? Is that right. I am trying to finish my taxes. I have never been this late filing them! I usually have the refund spent by now!

And do you enter the reinvested items under "other expenses." I need to pull my forms from last year!

 

[chefann]

It's $2 a month, but if you use the total commissions paid number from the 1099, HO has already taken it out of the total. Same with conference club.

 

[jrstephens]

It's $2 a month, but if you use the total commissions paid number from the 1099, HO has already taken it out of the total. Same with conference club.

So, it's deducted before my commission is taken out like a Cafateria plan and I cannot use it as a deduction?

What about where when I am computer the self-employed taxes and it ask me how much I paid for health insurance for my direct sales?

 

[chefann]

Unless you actually have the Pro insurance, you don't pay for health insurance as part of your PC business. The insurance we pay for is demonstrator insurance, which covers damage to hosts' possessions and some injuries that are show-related.

 

[wadesgirl]

It's $2 a month, but if you use the total commissions paid number from the 1099, HO has already taken it out of the total. Same with conference club.

So if I did conference club to pay my way last year, I have to add that back into my total income? Guess I'm confused now!

By the way, if I did conference club, I don't remember having anything that told me I paid for conference last year. At least I cannot find anything now. Can I call HO to request something saying I paid it so I can write it off?

 

[chefann]

Itemizing it from the grand total of all commissions paid is essentially the same as using the post-conference club commission number HO has on the 1099. So it's six of one, half dozen of the other. If you want to list conference club separately, you'll need to use the pre-deductions numbers from your monthly commission statements as income, and then use each month's conference club deduction as an expense entry, categorized as training.

 

[Intrepid_Chef]

Yup, $2. Comes in handy sometimes. We worked a bridal fair once and they wanted an insurance policy. My recruiter was all ready to go buy one for two days, and I said, "What about that $2 a month we pay?" She called HQ and had a certificate in her hands.

 

[jrstephens]

I use my 1099 numbers, so, I will go back and take it off as a deduction. I will be glad when I remember this stuff and do not have to figure it out each year. I this this, my 2nd year, I have more questions that I did my first year, LOL!