Embedded Files
Welcome to The Filing Cabinet! Please reach out to your Sponsor or Team Leader if you have Questions.
IMPORTANT: You are considered self employed with UBAM. At the end of the year you will get a 1099 form if you made $600 or more. You are responsible for paying your taxes on your earnings. PaperPie does not take taxes out for you.
IMPORTANT: You are considered self employed with UBAM. At the end of the year you will get a 1099 form if you made $600 or more. You are responsible for paying your taxes on your earnings. PaperPie does not take taxes out for you.
It is strongly recommended that you download a receipt (or take a picture of a physical receipt) and put it into a digital folder and mark your expense tracker *immediately* following spending money on your business.
It is strongly recommended that you download a receipt (or take a picture of a physical receipt) and put it into a digital folder and mark your expense tracker *immediately* following spending money on your business.
Write everything off that you possibly can and keep good records. If you use it for your business, mark it on your tracker as an expense. For example: your kit fee, printer ink, prizes, postage, etc. Any books you buy for yourself count as an expense, because you're using them for product knowledge and advertising. If you drive to the post office to mail something, mark down the miles you traveled. (Same goes for booths you do, etc.)
Write everything off that you possibly can and keep good records. If you use it for your business, mark it on your tracker as an expense. For example: your kit fee, printer ink, prizes, postage, etc. Any books you buy for yourself count as an expense, because you're using them for product knowledge and advertising. If you drive to the post office to mail something, mark down the miles you traveled. (Same goes for booths you do, etc.)
Instructions for Your Expense Tracker:
Instructions for Your Expense Tracker:
Click open the document on the right. Then click "File" -- "Make a Copy" to create your own copy to use. Save it to your Google Drive in a place where you can easily access it regularly.
Rename it: “YOURNAME’s Expense Tracker-YEAR”.
Once it's saved, fill it out to include the cost of your Brand Partner Kit and any other expenses you’ve made so far this year for your business.
Print out all receipts or bank statements for proof of purchases and keep them in a folder labeled, "<YEAR> Tax Receipts" and keep ALL of your receipts inside it.
If a customer uses a 3rd party payment platform such as Venmo or FB Pay to pay you for their order, you need to also note the money coming in and the money going out. Checks and balances. If you had over $600 sent to you by any of these platforms over the year they will send you a 1099 to file with your taxes so you must keep track that you in turn immediately used the money to pay for their order for them.
As soon as you spend a dime, note it in the tracker and save the receipt- EVERY SINGLE TIME. You will regret not keeping up with this so get in the habit now of always immediately taking care of it right after you spend money. Additionally, Home Office does not take taxes out of your income since you are a 1099 self employed Brand Partner. Therefore, you need to save enough to pay your taxes next year. Home Office will send you a 1099 for the amount you made (as long as you made $600+ that year) postmarked by January 31st.
NOTE: The instructions for how to use this document are on the first tab of the spreadsheet. You enter your expenses month by month using the rest of the labeled tabs.
Page updated
Google Sites
Report abuse