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Pampered Chef: Samples, Supplies or Inventory?

  1. akrebecca

    akrebecca Rebecca M. Silver Member

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    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?
     
    Apr 15, 2009
    #1
  2. babywings76

    babywings76 Legend Member Gold Member

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    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! :)
     
    Apr 15, 2009
    #2
  3. raebates

    raebates Legend Member Staff Member

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    In case you need another opinion to back you up when talking with your DH, I agree with you and Amanda.
     
    Apr 15, 2009
    #3
  4. 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 ;)
     
  5. akrebecca

    akrebecca Rebecca M. Silver Member

    225
    1
    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!
     
    Apr 17, 2009
    #5
  6. gailz2

    gailz2 Senior Member Gold Member

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    Apr 17, 2009
    #6
  7. lauriedip

    lauriedip Member

    343
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    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
     
    Jul 12, 2009
    #7
  8. 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.
     
    Jul 29, 2009
    #8
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