Any idea of things I can count as deductions when I sell mary kay out of my home?
149628
Since you are selling Mary Kay you can file as a business owner. You can write off expenses like if you use part of your home to store or place orders in a particular area. You can even write off part of your rent, and utilities. The gas and mileage you drive to pick up the supplies if you are required to pick them up.
553177
Sales taxes are claimed on your Schedule A (If you own your home, or pay Real Estate taxes, this is where sales taxes are deductible, but only for Cars, Boats or home building materials.)  The alternative is keeping ALL your receipts for the year and adding up all your sales tax for the year to put in this area of the form instead of any state income tax paid.
1167263
Here's the catch. When you sell a home, the transaction never goes beyond the county level. The only records the IRS will ever see are those provided by the bank, and what YOU tell them on your tax return. There is no space on the tax return that requires you to document how much PROFIT you made. You can buy a home for $100k, and sell lit 6 months later for $150k, but who's to say you didn't put $45k into repairs and remodeling, costs of selling, etc.? That means that you only have to declare $5k profit, IF you don't put it into another house. Don't volunteer any information, wait until they ask for it. They have to prove that you owe them money, you don't have to prove that you don't.
851696
I know I am not answering your question, but I do not know a place to send you for the information you are looking for.  I am a Landlord of 23 properties in Florida and I can answer specific questions you may have, to a limit.  Insurance you need to have homeowners Insurance and tell your agent that the house will be a rental, that way you are not paying for all items in the house, unless of course you are renting a furnished unit.  I have no special account, all the monies go into my personal account and all repairs come out of my personal account.  You will pay tax on the profit you make, I am not an accountant so I don't know what your tax implications would be, an accountant can answer that for you.  If you have any other questions please feel free to add details post another question or you can email me through Yahoo Answers.  Good Luck KG
158776
i think you will have to file a long form to take the renters deduction. just call h& R block and ask
894094
Debit either the asset account or inventory, depending on what the merchandise is being used for.\n\nCredit cash (or checking) for the amount of the down payment\n\nThe balance should go to Accounts PAYABLE (not receivable) or set up a separate liability account (if it is a credit card or like that).\n\nIf you sold the merchandise it would be an entirely different entry.
1178937
From the book "422 Tax Deduction for Businesses and Self Employed Individuals" http://www.amazon.com/exec/obidos/ASIN/0917510240/powerhomebizguid by Bernard Kamoroff, here are some of the items you can deduct:\n\naccountant fees\naccident insurance\nadvances paid to contractors, vendors\nadvertising and promotional expenses \nalarm systems \nair fare (deductible if certain requirements are met - business expense)\nallowance for bad debts\nanswering service fee\nappraisal fees\nassessments of local governments for repair (not construction) of streets, water lines, etc\nassociation dues, including community service organizations such as Rotary\nATM fees for withdrawing money of the business\nattorneys\naudits \nautomobiles used for business\nawards to employees\n\nThat's just for Letter A. There are a LOT more you can deduct. I suggest you get a copy of this book to help guide you and make sure you are maximizing your tax deductions.
1135699
That depends.  If it was your principal residence, and if you lived in it for 2 out of the last 5 years immediately prior to the sale, then you may exclude up to $250,000 ($500,000 if married filing jointly) in gain from federal taxes.  Excess gains are taxed as capital gains, as is the entire gain if you don't meet the ownership, residency and/or occupancy conditions.\n\nCA law may vary on that.  Consult a tax advisor in CA for full details.
571738
You could still claim deduction under Section 80GG; where you can state that you are residing at a property where you are a tenant and are paying rent to the landlord. This is via a declaration and is submitted at the time of filing your return.This can be done provided you do not own another house/flat in the same city. \nPersonally I do not think the HRA part will be removed. EET regime though is definetly going to come. further queries,e-mail:shashj97@yahoo.co.in
287731
contact the Franchise Tax Board or whatever agency is in charge of collecting taxes in Michigan.  I live in California, and that's what California calls their tax collecting agency.  You may also want to contact the IRS (Feds) to get a Fed tax deduction table.
155562
You can write off medical expenses.\n\nYou can donate stuff to the Goodwill, donate a non-running car, or open a retirement account.\n\nYou need to talk to your tax consultant as you may have deductions that you do not know about.
425838
If you have owned and lived in your home for over 2 years then you may be able to exclude from income all or part of the gain.  \n\nHere is the info you are looking for.  \n\nhttp://www.irs.gov/taxtopics/tc701.html\n\nCan also find more info here:\nhttp://www.irs.gov/pub/irs-pdf/p523.pdf
1018561
Check with the local legal aid agency in your area I know there are limits on things that you have sold or given away for the past 1-3 years... Legal Aid helped my brother in a similar situation .
149764
My understanding is yes.\n\nHowever, you can count a percentage of the floor area or number of rooms that are EXCLUSIVELY used for your business. No exclusive, no deduction.\n\nCheck out with a tax accountant to be entirely sure, but I believe that is the rule.
171267
They are good deductions if your move had anything to do with employment in another state.  Make an accurate list of all your costs related to the move.
53413
depends on what you want to sell...\nIf you want to get into the Mary Kay business go to my website\n\nwww.marykay.com/gracielopez
52635
Only if you have deductible expenses connected with it that get you over the standard deduction so you can itemize, like real estate taxes, mortgage interest, etc.