- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
@mgordon - all the money you receive, regardless of its source is reportable income.
The commisisons you receive are reported as taxable income.
The product you receive at a discount is NOT reportable income nor is the discount itself reportable income
Rather, the product you receive that is used in the business is a business expense at the cash price you paid the supplier. The product you receive for personal use is NOT a business expense and can not be reported on your tax return as either an expense or income.
‎August 29, 2023
11:36 AM