• 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!

Tax Cut or Tax Pro? Deciding How to Do Your Taxes - Expert Tips

In summary, a tax question is any question related to taxes, such as filing taxes, deductions, or tax laws. In most cases, income taxes must be paid on earned money, but there are exemptions and deductions that can lower the amount owed. The tax filing deadline is usually April 15th, but can vary. A tax credit directly reduces taxes owed, while a tax deduction reduces taxable income. It is important to keep accurate records for tax purposes and in case of an IRS audit.
S
schel
798
Ok...
My DH has done all our taxes in past on Tax Cut. Are we going to be able to do our taxes on TC this year or should we look into getting a tax person?
Schel
 
If it allows you to add Schedule C. That is what you need for your business.
 
This is my third "tax year" with PC, and I use Tax Cut. It leads you through it just like everything else. Honestly, for what we as direct sellers need, the Tax Cut Basic is sufficient. HTH!
 
Is this the same as Turbo Tax? I am thinking of purchasing Turbo Tax since I am tired of paying our accountant $250. Advice? Opinions??
 
Questions - my own tax questionWhich Business Activity Code do you use for PC? I described my business type as direct sales but do not know which code category to put it under. I hate to call and ask my accountant friend for more free advice he may get tired of it being free! HA!
 
  • Thread starter
  • #6
chefjenibel said:
This is my third "tax year" with PC, and I use Tax Cut. It leads you through it just like everything else. Honestly, for what we as direct sellers need, the Tax Cut Basic is sufficient. HTH!
Click to expand...

So, do you get the Tax Cut for businesses?
Schel
 

Related to Tax Cut or Tax Pro? Deciding How to Do Your Taxes - Expert Tips

What is a tax question?

A tax question is a question related to any aspect of taxes, such as how to file taxes, what deductions to take, or how to understand tax laws.

Do I have to pay taxes on my income?

In most cases, yes. Income taxes are typically paid on any money earned through employment, investments, or other sources of income. However, there are certain exemptions and deductions that may lower the amount of taxes owed.

When is the tax filing deadline?

The tax filing deadline is usually April 15th, but it can vary depending on the year and your specific tax situation. It's important to check with the IRS or a tax professional to make sure you file your taxes on time.

What is the difference between a tax credit and a tax deduction?

A tax credit is a dollar-for-dollar reduction of the amount of taxes owed, while a tax deduction reduces the amount of income that is subject to taxes. In general, tax credits are more valuable because they directly reduce the amount of taxes owed.

Do I need to keep records for my taxes?

Yes, it is important to keep accurate and organized records of your income and expenses for tax purposes. This can help you properly report your income and claim any deductions or credits you may be eligible for. It's also important to keep records in case of an audit by the IRS.

Similar Pampered Chef Threads

Questions About Doing Business Taxes for the First Time
  • cookingwithdot
    • Pampered Chef Finances
Replies
11
Views
2K
mrshamel3808
What Tax Site to You Use to Do Your Taxes Online?
  • DMB75
    • Pampered Chef Finances
Replies
6
Views
1K
pamperedharriet
How Do I File Taxes for My PC Sales?
  • elizabethfox
    • Pampered Chef Finances
Replies
4
Views
2K
elizabethfox
Food Tax Confusion for Tastefully Simple Parties
  • smilesarepriceless
    • Pampered Chef Finances
Replies
13
Views
5K
jrstephens
Using Software to Do Your Taxes?
  • jcsmilez
    • Pampered Chef Finances
Replies
10
Views
2K
minirottie
Maximizing Tax Benefits: Tips for Small Income Earners in the PC Industry
  • jesusluvsu2005
    • Pampered Chef Finances
Replies
6
Views
2K
lkprescott
Do You Have to Pay Taxes on Your Side Gig? Insights from a PC Consultant
  • Cookin Kristen
    • Pampered Chef Finances
Replies
6
Views
1K
Cookin Kristen
Understanding Self-Employment Tax and How to File Taxes as a Freelancer
  • jrstephens
    • Pampered Chef Finances
Replies
4
Views
1K
AnaCash
How Much Did Your Business Tax Prep Cost?
  • gilliandanielle
    • Pampered Chef Finances
Replies
29
Views
2K
mommyhugz1978
inHonor of Tax Day in the Us - Who Actually Pays the Taxes?
  • The_Kitchen_Guy
    • Pampered Chef Finances
Replies
14
Views
2K
genburk
Back
Top