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Self-Employed - Enter Customer Rebates or Refunds
Hi,
Under the self-employed section, it asks for "Customer Rebates or Refunds - If you received any income from customers and gave it back in the form of refunds for returned goods, discounts or rebates, enter the total here."
I often discount my work depending on a client's budget (I compose music for media). So, say my normal rate for a project is $2000 and I discount them 25%. I only ever receive $1500. But, when I create the invoice, I list out my normal rate and then have a line for the discount and then the total for $1500. So I never RECEIVE the money and GIVE IT BACK. Can I still total these discounts for the year to show I "lost" potential income from my normal rate for discounts? Or, is it only if your actually RECEIVE the money and then give it back...
I have not done this in previous years, but I should, if it's possible.