It’s Almost Tax Time!

Angela Megasko of www.MarketViewpoint.com discusses why it's important for mystery shoppers to get ready for tax time.March is upon us; can April 15th be far behind? If you haven’t already filed your taxes for 2013, the following may come in handy when preparing for tax time:

  • Most mystery shopping companies will send you a 1099 if you earned more than $600 with them in a tax year; however, all income is taxable, and you may want to discuss this with your accountant.
  • Reimbursed expenses are not taxable, but may have been included in the total earned from some mystery shopping companies. It is your responsibility to keep records of monies earned and monies reimbursed.
  • As an independent contractor, you are running a home-based business. Part of your rent/mortgage, utilities, and other household expenses can be written off. Consult with your tax advisor on how to write off a portion of these bills.
  • Don’t forget mileage; expenses incurred, but not reimbursed; office supplies, computer equipment, and other equipment necessary for you to perform your business.

No one likes tax time, but proper record keeping, done all year long, makes preparing for taxes that much easier. It is part of your responsibility as a small business owner. With the click of a mouse, all of your expenses and reimbursements can be ready for you to bring with you to your tax advisor or accountant.

Hopefully a refund is on its way to you soon!

For more information, go to www.IRS.gov or www.HRBlock.com.

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About Market Viewpoint

Market Viewpoint offers comprehensive mystery shopping services, complete customer service audits, employee and customer surveys, customer focused marketing strategies, and customer service training to help you improve your customer service and outshine your competition.
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One Response to It’s Almost Tax Time!

  1. Pingback: Get Ready for Tax Time 2016 TODAY with This Free Gift! | Market Viewpoint

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