Check with the I.R.S. and the Small Business Administration for some free advice.
You can deduct business expenses like advertising and travel. Check out Allocation of Income and Expenses, schedule P form 5735 at: http://www.unclefed.com/IRS-Forms/2005/f5735sp.pdf. This is the basic form you are looking for.
You can deduct any equipment that is used exclusively for the business, like a file cabinet, which can be depreciated, usually over seven years, where you recover the expense of the equipment over time. You can also deduct the expenses for your car when used to travel for the business. You must keep a mileage log to qualify. If you use a computer and deduct it then that computer must be devoted entirely to the business, any personal programs on it will cancel this deduction
You can deduct part of your home expenses for the area of the home that you use exclusively for your business, but this is a red flag for the IRS, and can force an audit. If you want this deduction then make sure that part of the house is used only for business. I knew an Amway dealer that had a system of shelves in the garage for storing his stock. That would be a legal deduction, and you will may need some space to store stock and samples.
You will need to use the 1040 tax form and remember to pay the self-employment tax (Check out lines 13, 24, 27,28, 29). You will need to fill out Schedule SE Self-Employment Tax (instructions are found at: http://www.unclefed.com/IRS-Forms/2005/i1040sse.pdf the form itself is found at: http://www.unclefed.com/IRS-Forms/2005/f5735sp.pdf) Use Form 8829 Expenses for Business Use of Your Home.
These forms are pretty daunting so you might want to find Tax Preparation software, make sure it can handle a small business. Or you might want to go to a Tax Perparer like H&R block. I recommend the later because they will know what deductions are legal and accepted by the I.R.S.
Is it okay to sign up to sell Mary Kay through a director that lives 6 hrs away from you?
I agree there are no territories however make sure you trust your director. Also if you can still attend all the meeting locally you can have an adoptive director. You will still have your orignal one but you will have someone to help you locally if need be. Great to see you making that step forward.
does anyone know if mary kay products are really good?
I myself am an Independent Beauty Consultant for Mary Kay and all our products are amazing. Our microdermabrasion is great, it really leaves your skin very soft and is a lot less expensive than going to a dermatologist. We have what is called a miracle set which includes you 3in1 cleanser that gently exfoliates, cleanses, and freshens your skin, the moisturizer, a day solution which includes a 25spf, which is the minimum amount of sun protection your skin needs on a daily basis and a night solution that repairs your skin from all the stuff that happens to it during the day. It also comes with a tube of foundation. The whole thing comes out to $104.00 plus tax. It makes your skin feel really good and combined with some of our acne products would really improve you skin. Our miracle set comes in both dry-normal, and combination-oily for both skin types.
What are effective ways of advertising my Mary Kay business over the Internet?
Your first step should be getting into the Google and Yahoo search engines. This is easy and free. You want people to be able to search "Mary Kay" and "Your Town" and have your website come up. Secondly, I would make weekly posts on Craigslists.com. Doing this is also easy and free it a great way to promote your website and announce Mary Kay makeover parties and whatnot. Lastly, if you sell product from your website, I would suggest using Google AdWords. This places little advertisements about your website directly in front of the demographic you would want to be advertising to. AdWords can really narrow down your target audience for you with this pay-per-click program. But I would only recommend this if you are actually selling product from your website so you have the best chance of seeing a return from your investment. Hope this helps a bit. Good luck with your venture!
Any suggestions as how to start successfully on your Mary Kay business?
I am not a Mary Kay consultant, but I want to comment to you and help you a bit. The number one reason a business fails is under capitalization,,,,If you dont have the money to start this,,,,,dont! Start saving your money! Get a bit saved and then look at the opportunity again. In the mean time,,,Look at what you can do to make some money on the side that does not require a major investment. Is there a service that you can provide? Service business usually have low costs to get started and can make you a nice profit. Good Luck!!!!
What color of Mary Kay Signature Eyesicles do you reccommend for me?
I am a Mary Kay Consultant but I am not in love with Eyesicles. I also have light skin and the Eyesicles do not blend but rather set on your eye lid. I would try the new Mary Kay Eye Color Bundles. Just pick the bundle matching your eye color and your eye color will pop with their colllection of shadows. Check out the address below for more information!
well, i have used it, and i love it! i've done the miscrodermabrasion from mk, and it is great! also the hand buffing kit. i really love the make up, also! the foundation i use from mk is so light on my face, i can hardly tell it's there. i love it!
Great I love it!!! I have fun and make Friends while earning money !
I started My Mary Kay business over two years ago. I was working a full time job with a well know financial institution. I liked my job I was there over 7 years but as you start a family priorities change. Sales was the last thing I thought I would ever consider. When my Mary Kay Consultant mentioned it I said no thanks you. it wasn't until a year later I listened to the facts. When my 15moth old was born I quit my full time job to be home with my children and I have never regretted it!
I work my Mary Kay business part time focusing on my children first.
If I can give you more information answer any other questions feel free to email me.