It’s that time of year again – income tax time. If you still haven’t filed your income tax return with the IRS you still have almost a month.
This is also the time of year when some direct sales consultants from almost every company are scrambling or panicking because they don’t know what to do.
Consultant groups and pages are teeming with threads asking for help with their taxes. Below are some tips to help you survive taking care of filing your income tax as an independent business owner.
Note: I did not think this needed to be said, but based on the hate-mail I’ve received, the typo in the above graphic is intentional. Call it irony, wit, sarcasm, ire, whatever you want; it’s making the point of paying attention to details. I am very well aware one of the words is spelled wrong. But thank you to all those who called me stupid and worse.
TIP #1: Outsource it
Not likely the info you were hoping for, is it? I figure if you already file your own taxes and are familiar with how to handle business filings, you likely would not be reading this article. My advice is that if you don’t know what you’re doing, hire a professional. That’s what I do. Then my time can be better allocated to doing what I do best. Also tax rules change every year so a professional is best to maximize your return and save you oodles of time trying to learn all the changes yourself.
TIP #2: Don’t take advice from your peers
Having survived an IRS audit, it really concerns me when I see independent consultants ask other consultants for tax advice on company forums. Maybe they should ask for legal and medical advice while they’re at it. Just because someone can sell wax, recruit or coach hosts does not make one qualified to give tax advice. [Read more…] about Top 4 Income Tax Tips for Scentsy Consultants