That makes sense. Thanks Diana. Angie Wingerter
________________________________ From: Diana Bonn <[email protected]> To: [email protected] Sent: Thu, September 16, 2010 8:13:21 PM Subject: Re: NailTech:: 1099 deduction form updates No Angie, sales tax is a state issue, we don't have a national sales tax. This for those that pay cash, for example, you bought something for your biz for cash, lets say 600.00 and you can deduct this. But since you paid cash you say hey since I paid cash I'm going to write this off as a business expense, and heck lets just say I spent 1,000 dollars instead since there is no paper trail, no one will know. Gov loses 400.00. Now the guy that you purchases this stuff from, for $600.00 and paid cash to him, says hey, I don't wanna pay taxes, and since I have the cash, and no one will know, I won't report it at all. Gov loses 600.00. Now of course this isn't exactly 400 and 600, because of percentages blah blah, just using it as an example. The whole 1099 thing and the credit/debit card thing is paper proof. and Maggie, you just sooooooooooooooooo make me giggle!!!!!!! diana from indiana At 01:50 PM 9/16/2010, you wrote: > Do you think it is to keep track of what we are buying out of state that we > are >not being charged sales tax on? > > [] > Angie Wingerter > > > > From: "[email protected]" <[email protected]> > To: [email protected] > Sent: Thu, September 16, 2010 11:12:35 AM > Subject: Re: NailTech:: 1099 deduction form updates > > Rhonda, thanks for explaining what I meant, i type faster than I think!!LOLO > > Jess, you say that you don't keep receipts, only bank statements. Now this >would scare me. If the IRS came in and said, let me see your receipt for this >check you wrote to Wal-mart to make sure all your purchases were for nail >supplies. How could you prove that the check listed on your bank statement >was >used 100% for business expenses? > > And the debit/credit issue...well I use both. Rhonda is soooooooo right, if >you get scammed with your debit card, you are OUT of money until it gets >sorted >out. Credit card Scam,it will mess with your balance for a month or so, but >that is it. > > That is why I only use debit card locally, and credit card with computer >purchases, and traveling. I agree, checks are on the way out, coming sooner >or >later, get used to it. But still have a check book that I write my boothrent >and other small purchases. > > diana from indiana > > > ---------------------------------------------------------------- > This message was sent using IMP, the Internet Messaging Program. > > > --You received this message because you are subscribed to the Google Groups >"NailTech" group. > To post to this group, send email to ><mailto:[email protected]>[email protected]. > To unsubscribe from this group, send email to >nailtech+<mailto:[email protected]>[email protected]. > For more options, visit this group at >http://groups.google.com/group/nailtech?hl=en. > > -- > You received this message because you are subscribed to the Google Groups >"NailTech" group. > To post to this group, send email to [email protected]. > To unsubscribe from this group, send email to >[email protected]. > For more options, visit this group at >http://groups.google.com/group/nailtech?hl=en. -- You received this message because you are subscribed to the Google Groups "NailTech" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/nailtech?hl=en. -- You received this message because you are subscribed to the Google Groups "NailTech" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/nailtech?hl=en.
