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Samples, Supplies or Inventory?

In summary, your DH & you are at odds about how to report PC product to the IRS. You list the product as samples, because you take them to shows for people to see. Supplies would be paperwork, stamps, envelopes, etc. Inventory is stuff that you buy specifically to resell, like at a booth or something, while supplies are for consumable items like catalogs and stamps. Samples are used to show what the product is like, not something that can be used.
akrebecca
Silver Member
225
My DH & I are at odds about PC product I purchase (ie stoneware) for show. He thinks it should go under Inventory. I disagree as I am not reselling the product. I think it should go under Samples as I am showing a sample of what the product is. I don't think they would go under Supplies as the stoneware is not consumable-like catalogs etc...

How do you all report your PC product to the IRS?
 
I list them as samples, because I take them to shows for people to see. Supplies would be paperwork, stamps, envelopes, etc (maybe the seasonings that you use for shows). Inventory is stuff that you buy specifically to resell like at a booth or something. At least, that's the way I think of the 3 categories. HTH! :)
 
In case you need another opinion to back you up when talking with your DH, I agree with you and Amanda.
 
As your accountant (who just finished tax season...woohoo) moonlighting with PC, you are all correct, poor DH is not...now you have to find a way to say that in a round about way to him so his feelings don't get hurt ;)
 
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  • #5
So I should not do the 'I'm right & you are wrong' dance? :D Thankfully, we are pretty comfy in being able to disagree w/each other. About the only time we have issues 'talking' is when the issue is junk food for the kids after 8 at night. :) I say no & he says yes. But that is beside the point.

Thanks for the input!
 
akrebecca said:
So I should not do the 'I'm right & you are wrong' dance? :D
you made me laugh, I can just picture this
 
babywings76 said:
I list them as samples, because I take them to shows for people to see. Supplies would be paperwork, stamps, envelopes, etc (maybe the seasonings that you use for shows). Inventory is stuff that you buy specifically to resell like at a booth or something. At least, that's the way I think of the 3 categories. HTH! :)

butterfly,
i am new and just reading this. do you have a list of labels we could put on files to keep track of expenses that are needed at the end of the year? thank you
laurie::confused
 
I think you are absolutely right on the three categories - I'm new to PC but I'm a full time accountant for a public accounting firm. Inventory is for resale, supplies are for consuption and samples are well samples. They are essentially the "assets" of your business as you use them to produce income.
 

1. What types of samples are available for purchase?

Pampered Chef offers a variety of samples for purchase, including kitchen tools, cookware, bakeware, and food products. We also have seasonal and limited edition samples available from time to time.

2. Can I request specific samples for my business needs?

Yes, you can make a request for specific samples by contacting our customer service team. However, please note that sample availability may vary and we cannot guarantee fulfillment of all requests.

3. How do I order supplies for my business?

You can easily order supplies for your business through our online ordering system or by contacting our customer service team. Simply log in to your account and browse our selection of supplies, including catalogs, order forms, and business cards.

4. Is there a minimum order requirement for inventory purchases?

Yes, there is a minimum order requirement of $200 for inventory purchases. However, this may vary for different products and promotions.

5. Can I return or exchange inventory items?

Yes, you can return or exchange inventory items within 30 days of purchase, as long as they are in new and unused condition. Please note that there may be a restocking fee for returned items.

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