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Taxes



2009 Tax Information and Tax Essentials
now Available

 

As a reminder, 2009 tax information will be postmarked and mailed to you on Feb. 1, 2010.

Independent Beauty Consultants may receive one or both of the following two documents:

  • An Internal Revenue Service (IRS) form 1099-MISC for Independent Beauty Consultants and Independent Sales Directors who receive commissions, prizes or awards in excess of $600 in a calendar year. You also will receive this form if your wholesale purchases total $5,000 or more in a calendar year. If you do not receive form1099-MISC, you are still required to report your Mary Kay business activities to the IRS.

  • An Income Advisory Statement for Independent Beauty Consultants who receive at least $200 in Company prizes or awards during the year. The Income Advisory Statement lists total commissions earned, total prizes and awards and Career Car information (gross lease amount and amount paid by Mary Kay Inc.). You also will receive an Income Advisory Statement if you meet the requirements for a form 1099-MISC.

You should keep detailed records to support this income and expense information. These records may include, but are not limited to, sales tickets, packing slip/invoice included with each wholesale order, monthly commission and bonus statements and business expense receipts. In addition, you should have performed a physical count of the inventory that you had in stock as of Dec. 31, 2009.

 

The Company suggests using an accountant or personal tax adviser who is familiar with federal, state and local laws to advise and assist you in filing your federal and state income tax returns as well as, but not limited to, any gross receipts, excise, business and occupation, sales, use, property or other taxes you may owe.

 

For additional information about taxes click here. Tax Essentials for 2009 is now available as a guide to assist you in the preparation of your federal income tax return as it relates to your Mary Kay business.

 

Beginning Feb. 1, 2010, all Independent Beauty Consultants may also verify their 2009 wholesale purchases, prizes, awards and commissions from the Company through their 2009 Income Advisory Statements.

 

Beginning Feb. 1, 2010 you also may send a personally signed fax request to Consultant Records at (972) 687-1612 or mail a personally signed, written request identifying the specific information needed.

 

Be sure to include your Beauty Consultant number and your current address.

 

Please allow 10 business days from the time it is received to process your request. Requests should be sent t

 

Mary Kay Inc.

Consultant Records

P.O. Box 799045

Dallas, TX 75379-9045.


2009 Business Tracking Tips
2009 Tax Time
2009 Taxes - info by CPA
Itemized form 2009
2008 Inventory template

From the TAXES class:
 
 
from the Business Organization class: